XN000022-1996-11-25 — Page 15

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Hong Kong Monetary Authority money market operations

Cumulative

Time

change

Smillion

(hours)

($million)

Opening balance in the account

2,369

0930

+528

Closing balance in the account

3,404

1000

+1,128

Change attributable to:

1100

+1,128

Money market activity

+1,125

1200

+1,125

LAF today

-90

1500

+1,125.

1600

+1,125

LAF rate 4.00% bid/6.00% offer TWI 124.4 +0.2* 25.11.96

Hong Kong Monetary Authority

EF bills

EF notes/MTRC notes

Terms

Yield

Term

Issue

Coupon

Price

Yield

1 week

4.97

2 years

2811

5.72

100.16

5.71

1 month

4.93

3 years

3910

6.28

100.79

6.06

3 months

4.91

5 years

5109

7.32

103.33

6.60

6 months

4.98

7 years

7308

7.24

102.49

6.89

12 months

5.23

10 years

1610

7.37

102.40

7.15

5 years

M503

7.35

102.10

6.94

Total turnover of EF bills and notes - $8,401 million

Closed November 25, 1996

End