XN000022-1997-01-02 — Page 5

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Hong Kong Monetary Authority interbank liquidity

AGGREGATE

BALANCE OF SETTLEMENT

TIME

ACCOUNTS

OPENING AGGREGATE BALANCE CLOSING AGGREGATE BALANCE CHANGE ATTRIBUTABLE TO :

474 MN

0930 HR

11,009 MN

450 MN

1000 HR

18,430 MN

1100 HR

21,563 MN

MONEY MARKET ACTIVITY

- 6 MN

1200 HR

25,893 MN

LAF REVERSAL

+8,037 MN

1500 HR

27,074 MN

LAF TODAY

- 8,055 MN

1600 HR

35,733 MN

LAF RATE 4.00% BID/6.00% OFFER TWI 125.2 -0.1* 2.1.97

Hong Kong Monetary Authority

EF Bills

EF Notes/MTRC Notes

Terms

Yield

Terms

Issue

Coupon Price

Yield

1 week

4.34

2 years

2811

5.72

100.23

5.66

1 month

4.34

3 years

3910

6.28

100.59

6.13

3 months

4.48

5 years

5112

6.57

99.41

6.82

6 months

4.69

7 years

7311

6.80

98.80

7.14

12 months

5.05

10 years

5 years

1610 7.37

M503

7.35

100.64

7,41

101.55

7.07

TOTAL TURNOVER OF EF BILLS AND NOTES - $14,645 MN

CLOSED JANUARY 2, 1997

End