Exchange Fund Bills Tender Results

HKMA Press Releases

Published March 31st, 2026

Detected April 1st, 2026

Summary

The HKMA announced results of two Exchange Fund Bills tenders conducted on 31 March 2026. Issue Q2613 attracted HK$133.6B in applications with HK$69.5B allotted at average yield of 1.90%. Issue H2642 attracted HK$55.5B in applications with HK$20B allotted at average yield of 2.11%. This is routine market data publication with no regulatory implications.

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What changed

The HKMA published tender results for two Exchange Fund Bills issues: Q2613 (HK$69.5B allotted, maturing July 2026) and H2642 (HK$20B allotted, maturing September 2026). Average yields accepted were 1.90% and 2.11% respectively, with pro rata ratios of approximately 90% and 37%.\n\nThis is a routine market operations announcement containing no new regulatory requirements, guidance, or policy changes. No action is required from regulated entities. The document serves informational purposes for market participants tracking Exchange Fund yield curves and tender participation rates.

Source document (simplified)

Exchange Fund Bills Tender Results

Press Releases

31 Mar 2026

Exchange Fund Bills Tender Results

| Tender date | : | 31 March 2026 |
| --- | --- | --- |
| Paper on offer | : | EF Bills |
| Issue number | : | Q2613 |
| Issue date | : | 1 April 2026 |
| Maturity date | : | 2 July 2026 |
| Amount applied | : | HK$133,626 MN |
| Amount allotted | : | HK$69,491 MN |
| Average yield accepted | : | 1.90 PCT |
| Highest yield accepted | : | 1.95 PCT |
| Pro rata ratio* | : | About 90 PCT |
| Average tender yield | : | 1.99 PCT |
| **************************** | | |
| Tender date | : | 31 March 2026 |
| Paper on offer | : | EF Bills |
| Issue number | : | H2642 |
| Issue date | : | 1 April 2026 |
| Maturity date | : | 30 September 2026 |
| Amount applied | : | HK$55,450 MN |
| Amount allotted | : | HK$20,000 MN |
| Average yield accepted | : | 2.11 PCT |
| Highest yield accepted | : | 2.14 PCT |
| Pro rata ratio* | : | About 37 PCT |
| Average tender yield | : | 2.20 PCT |
*“Pro rata ratio” refers to the average percentage of allotment with respect to each tender participant’s tendered amount at the “highest yield accepted” level.