Exchange Fund Bills Tender Results

HKMA Press Releases

Published March 24th, 2026

Detected March 24th, 2026

Summary

The Hong Kong Monetary Authority (HKMA) announced the tender results for Exchange Fund Bills on March 24, 2026. The results detail the amounts allotted, average yields accepted, and tender yields for two separate bill issuances maturing in June and September 2026. The notice also outlines upcoming tenders scheduled for March 31, 2026.

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What changed

The Hong Kong Monetary Authority (HKMA) has published the results of its Exchange Fund Bills tender held on March 24, 2026. This notice details the successful allotments for two series of bills, including their respective issue dates, maturity dates, amounts applied for and allotted, and accepted yields. Specifically, HK$65,442 million was allotted for bills maturing on June 24, 2026, with an average accepted yield of 1.88%, and HK$15,000 million for bills maturing on September 23, 2026, with an average accepted yield of 2.10%.

This announcement serves as a factual report of past tender results and provides forward guidance on upcoming tenders scheduled for March 31, 2026. While this notice does not impose new obligations or require immediate action from regulated entities, it is crucial for financial institutions and investors involved in the Hong Kong debt market to monitor these results and upcoming tender schedules to inform their investment and liquidity management strategies. The information provided is essential for understanding prevailing market yields and the HKMA's debt issuance activities.

Source document (simplified)

Exchange Fund Bills Tender Results

Press Releases

24 Mar 2026

Exchange Fund Bills Tender Results

| Tender date | : | 24 March 2026 |
| --- | --- | --- |
| Paper on offer | : | EF Bills |
| Issue number | : | Q2612 |
| Issue date | : | 25 March 2026 |
| Maturity date | : | 24 June 2026 |
| Amount applied | : | HK$182,140 MN |
| Amount allotted | : | HK$65,442 MN |
| Average yield accepted | : | 1.88 PCT |
| Highest yield accepted | : | 1.91 PCT |
| Pro rata ratio* | : | About 98 PCT |
| Average tender yield | : | 1.99 PCT |
| **************************** | | |
| Tender date | : | 24 March 2026 |
| Paper on offer | : | EF Bills |
| Issue number | : | H2641 |
| Issue date | : | 25 March 2026 |
| Maturity date | : | 23 September 2026 |
| Amount applied | : | HK$52,460 MN |
| Amount allotted | : | HK$15,000 MN |
| Average yield accepted | : | 2.10 PCT |
| Highest yield accepted | : | 2.13 PCT |
| Pro rata ratio* | : | About 73 PCT |
| Average tender yield | : | 2.21 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 on 31 March 2026:

| Tender date | : | 31 March 2026 |
| --- | --- | --- |
| Paper on offer | : | EF Bills |
| Issue number | : | Q2613 |
| Issue date | : | 1 April 2026 |
| Maturity date | : | 2 July 2026 |
| Tenor | : | 92 Days |
| Amount on offer | : | HK$69,491 MN |
| **************************** | | |
| Tender date | : | 31 March 2026 |
| Paper on offer | : | EF Bills |
| Issue number | : | H2642 |
| Issue date | : | 1 April 2026 |
| Maturity date | : | 30 September 2026 |
| Tenor | : | 182 Days |
| Amount on offer | : | HK$20,000 MN |

End/Tuesday, 24 March, 2026

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