XN000022-1997-01-06 — Page 11

Tender amount

Other details

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10 -

: Each tender must be for an amount of HK$50,000 or

integral multiples thereof. Members of the public who wish to tender for the Notes may approach Market Makers or Recognised Dealers on the published list.

: Please see Information Memorandum published or approach Market Makers or Recognised Dealers.

Hong Kong Monetary Authority interbank liquidity

AGGREGATE

BALANCE OF

SETTLEMENT

TIME

ACCOUNTS

OPENING AGGREGATE BALANCE CLOSING AGGREGATE BALANCE

856 MN

0930 HR

16,058 MN

677 MN

1000 HR

19,123 MN

CHANGE ATTRIBUTABLE TO :

1100 HR

23,274 MN

MONEY MARKET ACTIVITY

- 12 MN

1200 HR

30,901 MN

LAF REVERSAL

+7,400 MN

1500 HR

35,727 MN

LAF TODAY

- 7,567 MN

1600 HR

38,379 MN

LAF RATE 4.00% BID/6.00% OFFER TWI 125.6 *+0.1* 6.1.97

Hong Kong Monetary Authority

EF Bills

EF Notes/MTRC Notes

Terms

Yield

Terms

Issue

Coupon

Price

Yield

1 week

4.36

2 years

2811

5.72

100.22

5.67

1 month

4.40

3 years

3910

6.28

100.59

6.13

3 months

4.50

5 years

5112

6.57

99.38

6.83

6 months

4.70

7 years

7311

6.80

98.79

7.15

12 months

5.09

10 years

1610 7.37

100.53

7.42

5 years

M503

7.35

101.45

7.10

TOTAL TURNOVER OF EF BILLS AND NOTES - $11,154 MN

CLOSED JANUARY 6, 1997

End