HKMA Releases Tentative Schedule for Exchange Fund Bills and Notes for Q4 2024

The
Hong
Kong
Monetary
Authority
(HKMA)
has
announced
a
tentative
issuance
schedule
for
Exchange
Fund
Bills
and
Notes
(EFBNs)
for
the
upcoming
quarter
from
October
to
December
2024.
The
schedule,
released
on
August
15,
2024,
outlines
the
proposed
tender
dates,
issue
sizes,
and
issue
dates
for
individual
issues,
according
to

HKMA.

Quarterly
Issuance
Details

The
quarterly
schedule
is
typically
issued
in
the
second
month
of
each
quarter—February,
May,
August,
and
November—covering
EFBN
tenders
in
the
following
quarter.
This
latest
release
for
Q4
2024
includes
rollover
of
maturing
issues
and
planned
adjustments
to
the
maturity
spectrum
of
the
EFBN
portfolio.

Tentative
Nature
of
the
Schedule

It
is
important
to
note
that
the
tender
dates,
issue
sizes,
and
issue
dates
outlined
in
the
advance
issuance
schedule
are
tentative.
The
HKMA
will
confirm
and
announce
the
details
of
new
issues
of
Exchange
Fund
Bills
at
least
four
business
days
prior
to
their
respective
tender
dates.
For
Exchange
Fund
Notes,
details
will
be
confirmed
and
announced
seven
business
days
before
their
respective
tender
dates.
The
HKMA
reserves
the
right
to
make
adjustments
based
on
prevailing
market
conditions.

Market
Implications

The
issuance
of
EFBNs
plays
a
crucial
role
in
Hong
Kong’s
financial
stability,
providing
a
reliable
tool
for
liquidity
management
and
investment
opportunities.
The
tentative
schedule
allows
market
participants
to
prepare
for
upcoming
tenders,
ensuring
a
smooth
and
efficient
market
operation.

Hong
Kong
Monetary
Authority
15
August
2024

Image
source:
Shutterstock