Exchange Fund Bills Tender Results

In the recent round of tenders held by the Hong Kong Monetary Authority, two series of Exchange Fund Bills (EF Bills) were offered for subscription. The first series, with the issue number Q2416, had a tender date of 16 April 2024 and a maturity date of 17 July 2024. The total amount applied for this series was HK$140,110 million, with an amount allotted of HK$63,188 million. The average yield accepted was 4.28 percent, and the highest yield accepted reached 4.38 percent. The pro rata ratio, indicating the average percentage of allotment in relation to each participant’s tendered amount at the highest yield accepted level, was approximately 83 percent. The second series, with the issue number H2445, also had a tender date of 16 April 2024 and a longer maturity date of 16 October 2024. The amount applied for this series was HK$51,344 million, and the amount allotted was HK$19,000 million. The average yield accepted stood at 4.28 percent, with the highest yield accepted being 4.36 percent. The pro rata ratio for this series was approximately 87 percent. Looking ahead, the Hong Kong Monetary Authority announced the upcoming tenders for the week beginning 22 April 2024. The first tender, scheduled for 23 April 2024, will offer EF Bills with the issue number Q2417, having a maturity date of 24 July 2024 and a tenor of 91 days. The amount on offer for this series is HK$59,076 million. Concurrently, on the same tender date, another series of EF Bills with the issue number H2446 will be offered. This series has a maturity date of 23 October 2024 and a tenor of 182 days, with an amount on offer of HK$12,000 million. Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/04/20240416-3/