Refinements of the US Dollar Liquidity Facility Annex B: Summary of Terms

Annex B US Dollar Liquidity Facility Summary of Terms Important notice: This Summary should be read in conjunction with Circular dated 22 May 2024 and subsequent relevant announcements. Total amount US$10 billion Tenor 7 days1 Target participants Licensed Banks in Hong Kong2 Transaction type Repurchase transactions Method Competitive tenders (one valid bid by each participant) Tender hours 09:00 to 12:00 noon Hong Kong Time (both times inclusive) Submission SWIFT MT599 Tender amount Minimum US$100 million, in integral multiples of USD$100 million Interest rate Not lower than the prevailing pricing rate of the seven-day term of the Federal Reserve’s FIMA Repo Facility, rounded to 2 decimal places3 Allotment Based on competitiveness (i.e. in descending order from the highest to the lowest accepted interest rate), subject to limits to be imposed on HKMA’s sole and absolute discretion to facilitate wide distribution of allotment among participants Collateral Exchange Fund Bills and Notes Haircut Exchange Fund Bills: minimum 2.5% Exchange Fund Notes: minimum 5% plus 1% per year of remaining maturity Settlement Date Same day as Tender Date (T+0) Collateral submission By 18:00 Hong Kong Time on Settlement Date USD payment Within business hours US Eastern Standard Time on Settlement Date Interest payable Referenced to tendered interest rate based on actual/360 convention USD Repayment Principal plus Interest by 10:00 US Eastern Standard Time on Repayment Date Collateral return By 17:00 Hong Kong Time on business day immediately following Repayment Date Penalty HKMA has sole and absolute discretion to impose penalty on failed transfer of collateral or failed repayment Enquires General issues: +852 2878 8104 / USDfacility@hkma.iclnet.hk Settlement issues: +852 2878 8237 or 2878 1778 / settlementsection@hkma.gov.hk Tender submission issues: +852 2878 8146 to 8149 / cmu@hkma.gov.hk

1 May vary due to intervening general holidays in Hong Kong or the US. 2 Must have entered into Master Sale and Repurchase Agreement for Provision of Liquidity Assistance with HKMA. 3 https://www.hkma.gov.hk/eng/key-functions/money/liquidity-facility-framework/us-dollar-liquidity-facility/summary-of-terms/