外汇票据

外汇基金票据计划1993年扩展至外汇基金债券。

Exchange fund bills programme expanded to exchange fund notes in1993 .

外汇基金票据及债券的市值。

Market value of Exchange Fund Bills and Notes .

外汇基金票据和债券达1019亿元。

Of this , Exchange Fund Bills and Notes amounted to $ 101.9 billion .

年内，外汇基金票据及债券的平均每日成交量为161亿元。

The daily turnover of Exchange Fund paper during 1999 averaged $ 16.1 billion .

银行可利用外汇基金票据债券作为即日回购协议的抵押品，以获取免息即日流动资金。

Banks can obtain interest-free intraday liquidity through intraday repo using exchange fund bills notes .

推出首批外汇基金票据。

Exchange fund bills are launched .

外汇基金票据认可交易商

Recognized dealer of Exchange Fund bills

这是指由支付外汇基金票据及债券的利息而引致总结馀增加的数额。

This refers to the increase in the Aggregate Balance due to interest payments on Exchange Fund paper .

金融管理局一直均有运用利率掉期合约，以对冲因外汇基金票据及债券而产生的定息负债。

The monetary authority has been using interest rate swaps to hedge the fixed rate liabilities arising from exchange fund paper .

一九九八年九月至一九九九年三月期间，金管局并无发行新的外汇基金票据及债券。

There was no new issue of Exchange Fund Bills and Notes for the period from September 1998 to March 1999 .

此举可促进市场多方面使用外汇基金票据及债券，提高定息债券市场的流动性，以及有助减低系统风险。

This promotes market-wide use of the Exchange Fund paper , increases the liquidity of fixed-income market and helps reduce systemic risk .

金管局在二零零零年推出的多项措施，增加了外汇基金票据及债券市场的透明度和流动性。

The various measures implemented by the HKMA in 2000 have contributed to greater transparency and liquidity in the Exchange Fund paper market .

为增加外汇基金票据及债券在第二市场的流动性，金管局已制定有效的市场庄家制。

To enhance secondary market liquidity , the HKMA has put in place an effective market-making system for Exchange Fund Bills and Notes .

政府债务挤出私人投资：国际证据外汇基金票据和债券达1019亿元。

The International Evidence for Government Bonds to Spill Over Private Investments Of this , Exchange Fund Bills and Notes amounted to $ 101.9 billion .

至于已发行的外汇基金票据及债券，由于已有外汇储备支持，因此均会在到期日续期。

Existing issues of Exchange Fund paper , which are already backed by foreign reserves , will be rolled over as and when they mature .

港元资产减少，主要是因为获认购但未交收的外汇基金票据及债券减少。

The decrease in Hong Kong dollar assets was due mainly to a decrease in exchange fund bills and notes issued but not yet settled .

一九九零年推出的外汇基金票据及债券计划，是香港债务市场发展的重要里程碑。

The launch of the Exchange Fund Bills and Notes Programme in 1990 marked an important milestone in the development of the Hong Kong debt market .

月份内，由于港元利率轻微上升，外汇基金票据和债券市值下跌。

During the month of january , the market value of Exchange Fund paper registered a decline reflecting the slight firming of Hong Kong dollar interest rates .

谘询委员会同意，外汇基金票据和债券的未偿还总额可随著外汇基金票据和债券的利息数额而增加。

The EFAC agreed that the outstanding size of the exchange fund paper should be allowed to rise in line with interest payments on exchange fund paper .

例如在收紧银行同业流动资金及港元利率面对上升压力的情况下，增发外汇基金票据及债券可能会吸引资金继续流入。

By tightening interbank liquidity and putting upward pressure on Hong Kong dollar interest rates , the issue of Exchange Fund paper could lead to further inflows of funds .

换言之，市场庄家若持有外汇基金票据及债券短仓，可用这些指定债务工具长仓来补仓，反之亦然。

In other words , a short position of a market maker in Exchange Fund paper can be covered by a long position in SIs , or vice versa .

只要来自支持组合内美元资产的利息收入超过外汇基金票据和债券的利息支出，支持比率便会逐步上升。

To the extent that interest income arising from the US assets in the Backing Portfolio exceeded interest payments on exchange fund paper , the backing ratio would rise over time .

这种方法完全符合货币发行局的原则，原因是外汇基金票据和债券的利息支出已由货币基础的美元资产所得利息收入提供支持。

This procedure is consistent with the currency board discipline , since interest payments on Exchange Fund paper are backed by interest income on the US dollar assets backing the monetary base .

《孙子兵法·九变》与《管子·九变》比较一九九八年九月至一九九九年三月期间，金管局并无发行新的外汇基金票据及债券。

Comparison of Variation in Tactics in Military Science of Sun Tzu and Kuan Tzu There was no new issue of Exchange Fund Bills and Notes for the period from September 1998 to March 1999 .

至于28日期外汇基金票据，由于需求减少，年内已把发行量由20亿元进一步调低至15亿元。

As for the tap issues of 28-day Exchange Fund Bills , the size of each issue was further reduced from $ 2 billion to $ 1.5 billion during the year , owing to reduced demand .

由于经济衰退、外围环境欠佳，年内非外汇基金票据及债券的发债活动减少。银行在贴现窗借款，须按基本利率为不超过所持外汇基金票据及债券总数一半的借款支付利息；

Issuance activities of non-Exchange Fund paper slowed down in the year amid economic downturn and a poor external environment . Banks are charged the Base Rate with respect to the first 50 per cent of their holding of Exchange Fund Bills and Notes .

只会在有资金流入的情况下，金管局才会发行新的外汇基金债券票据。

New exchange fund paper to be issued only when there is an inflow of funds .

此举是确保银行利用外汇基金债券票据作为抵押品，经贴现窗进行的回购协议不会违反货币发行局制度的严格原则。

This is to ensure that the repo of Exchange Fund paper through the discount window does not involve any departure from the discipline of the currency board system .

按照持牌银行使用贴现窗涉及的外汇基金债券票据数量占其所持该等债券票据总额的百分比，制定适用的贴现率。

Introducing a schedule of discount rates applicable for different percentage thresholds of holdings of Exchange Fund paper by the licensed banks for the purpose of accessing the discount window .

外汇占款是央行票据的格兰杰原因，这表明了央行票据发行的用意，这也与中央银行的目标相符。

Position for Forex Purchase is the Granger causes of central bank bills , which indicates that the original intention of central bank bills .