Exchange Fund Bills Tender Results

HKMA Press Releases

Published March 17th, 2026

Detected March 17th, 2026

Summary

The Hong Kong Monetary Authority (HKMA) announced the results of the Exchange Fund Bills tenders held on March 17, 2026. The notice details the amounts allotted, average and highest accepted yields, and pro rata ratios for two separate bill issuances. It also outlines upcoming tender dates and amounts for the week of March 23, 2026.

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What changed

The Hong Kong Monetary Authority (HKMA) has published the results for the Exchange Fund Bills tenders conducted on March 17, 2026. The results cover two issuances: Issue number Q2611, with HK$63,714 million allotted at an average yield of 1.98%, and Issue number H2640, with HK$14,000 million allotted at an average yield of 2.10%. The document also provides a forward-looking schedule for tenders to be held in the week beginning March 23, 2026, detailing the paper on offer, issue numbers, and amounts on offer for upcoming bill issuances.

This notice serves as an informational update for market participants regarding the HKMA's debt issuance activities. While it does not impose new obligations or require immediate action from regulated entities, it is crucial for financial institutions involved in the debt markets, such as fund managers and investors, to stay informed about yield trends and issuance volumes. Understanding these results can inform investment strategies and liquidity management. The upcoming tender schedule provides advance notice for those wishing to participate in future issuances.

Source document (simplified)

Exchange Fund Bills Tender Results

Press Releases

17 Mar 2026

Exchange Fund Bills Tender Results

| Tender date | : | 17 March 2026 |
| --- | --- | --- |
| Paper on offer | : | EF Bills |
| Issue number | : | Q2611 |
| Issue date | : | 18 March 2026 |
| Maturity date | : | 17 June 2026 |
| Amount applied | : | HK$166,370 MN |
| Amount allotted | : | HK$63,714 MN |
| Average yield accepted | : | 1.98 PCT |
| Highest yield accepted | : | 2.01 PCT |
| Pro rata ratio* | : | About 80 PCT |
| Average tender yield | : | 2.07 PCT |
| **************************** | | |
| Tender date | : | 17 March 2026 |
| Paper on offer | : | EF Bills |
| Issue number | : | H2640 |
| Issue date | : | 18 March 2026 |
| Maturity date | : | 16 September 2026 |
| Amount applied | : | HK$48,350 MN |
| Amount allotted | : | HK$14,000 MN |
| Average yield accepted | : | 2.10 PCT |
| Highest yield accepted | : | 2.13 PCT |
| Pro rata ratio* | : | About 40 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.

Hong Kong Monetary Authority

Tenders to be held in the week beginning – 23 March 2026:

| Tender date | : | 24 March 2026 |
| --- | --- | --- |
| Paper on offer | : | EF Bills |
| Issue number | : | Q2612 |
| Issue date | : | 25 March 2026 |
| Maturity date | : | 24 June 2026 |
| Tenor | : | 91 Days |
| Amount on offer | : | HK$65,442 MN |
| **************************** | | |
| Tender date | : | 24 March 2026 |
| Paper on offer | : | EF Bills |
| Issue number | : | H2641 |
| Issue date | : | 25 March 2026 |
| Maturity date | : | 23 September 2026 |
| Tenor | : | 182 Days |
| Amount on offer | : | HK$15,000 MN |

End/Tuesday, 17 March, 2026

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