Exchange Fund Bills Tender Results
Summary
The Hong Kong Monetary Authority published Exchange Fund Bills tender results for three issues (Q2614, H2643, Y2688). Total applications amounted to HK$211.891 billion with HK$93.44 billion allotted. Average yields accepted ranged from 1.99% to 2.23% across maturities from July 2026 to April 2027. The HKMA also announced upcoming tenders for the week beginning 13 April 2026.
What changed
The HKMA released the results of Exchange Fund Bills tenders conducted on 2 April 2026. Three EF Bill issues were offered: Q2614 (HK$70.44B allotted, 1.99% avg yield, matures July 2026), H2643 (HK$19B allotted, 2.14% avg yield, matures October 2026), and Y2688 (HK$4B allotted, 2.23% avg yield, matures April 2027). Total applications across all issues reached HK$211.89 billion.
This is a routine monetary operation announcement with no new regulatory requirements or compliance obligations. Financial institutions participating in HKMA tenders should note the announced schedule for upcoming tenders on 14 April 2026 (issues Q2615 and H2644). No action is required from compliance officers regarding this informational release.
Source document (simplified)
Exchange Fund Bills Tender Results
Press Releases
02 Apr 2026
Exchange Fund Bills Tender Results
| Tender date | : | 2 April 2026 |
| --- | --- | --- |
| Paper on offer | : | EF Bills |
| Issue number | : | Q2614 |
| Issue date | : | 8 April 2026 |
| Maturity date | : | 8 July 2026 |
| Amount applied | : | HK$152,271 MN |
| Amount allotted | : | HK$70,440 MN |
| Average yield accepted | : | 1.99 PCT |
| Highest yield accepted | : | 2.06 PCT |
| Pro rata ratio* | : | About 83 PCT |
| Average tender yield | : | 2.18 PCT |
| **************************** | | |
| Tender date | : | 2 April 2026 |
| Paper on offer | : | EF Bills |
| Issue number | : | H2643 |
| Issue date | : | 8 April 2026 |
| Maturity date | : | 7 October 2026 |
| Amount applied | : | HK$45,850 MN |
| Amount allotted | : | HK$19,000 MN |
| Average yield accepted | : | 2.14 PCT |
| Highest yield accepted | : | 2.24 PCT |
| Pro rata ratio* | : | About 5 PCT |
| Average tender yield | : | 2.30 PCT |
| **************************** | | |
| Tender date | : | 2 April 2026 |
| Paper on offer | : | EF Bills |
| Issue number | : | Y2688 |
| Issue date | : | 8 April 2026 |
| Maturity date | : | 7 April 2027 |
| Amount applied | : | HK$13,770 MN |
| Amount allotted | : | HK$4,000 MN |
| Average yield accepted | : | 2.23 PCT |
| Highest yield accepted | : | 2.29 PCT |
| Pro rata ratio* | : | About 76 PCT |
| Average tender yield | : | 2.48 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.
Hong Kong Monetary Authority
Tenders to be held in the week beginning – 13 April 2026:
| Tender date | : | 14 April 2026 |
| --- | --- | --- |
| Paper on offer | : | EF Bills |
| Issue number | : | Q2615 |
| Issue date | : | 15 April 2026 |
| Maturity date | : | 15 July 2026 |
| Tenor | : | 91 Days |
| Amount on offer | : | HK$69,637 MN |
| **************************** | | |
| Tender date | : | 14 April 2026 |
| Paper on offer | : | EF Bills |
| Issue number | : | H2644 |
| Issue date | : | 15 April 2026 |
| Maturity date | : | 14 October 2026 |
| Tenor | : | 182 Days |
| Amount on offer | : | HK$19,000 MN |
End/Thursday, 2 April, 2026
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