XN000022-1996-11-12 — Page 12

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11

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Hong Kong Monetary Authority money market operations

Cumulative

Time

change

Smillion

(hours)

($million)

Opening balance in the account

2,589

0930

+311

Closing balance in the account

2,577

1000

+311

Change attributable to:

1100

+311

Money market activity

+288

1200

+311

LAF today

-300

1500

+311

1600

+288

LAF rate 4.00% bid/6.00% offer TWI 124.2 -0.1* 12.11.96

Hong Kong Monetary Authority

EF bills

EF notes/MTRC notes

Terms

Yield

Term

Issue Coupon Price

Yield

1 week

4.87

2 years

2811

5.72

100.00

5.80

1 month

4.89

3 years

3910

6.28

100.59

6.15

3 months

4.95

5 years

5109

7.32

102.99

6.69

6 months

5.01

7 years

7308 7.24

101.99

6.98

12 months

5.27

10 years 5 years

1610 M503 7.35

7.37

101.60

7.27

101.85

7.00

Total turnover of EF bills and notes - $13,608 Million

Closed November 12, 1996

End