To facilitate the smooth operation of the rtgs , they will be offered intra - day repo facilities and access to the discount window in the same way as their licensed bank counterparts 为确保即时支付结算系统运作畅顺，有限制牌照银行与持牌银行一样，可透过与金管局进行即日回购协议，取得流动资金，以及使用贴现窗服务。
This would ensure that government bonds would enjoy the same favourable pricing for exchange fund paper , which is currently almost the same , for up to ten - year maturity , as corresponding us treasury paper 这项安排可让银行利用政府债券作为获取贴现窗服务的抵押品，从而确保政府债券与外汇基金票据及债券一样能以有利条件定价。
These proposals provided an elaboration on the general strategy discussed by the sub - committee at its meeting in july . the proposals included a term repo facility to licensed banks and an enlarged discount window 这些建议详尽阐释委员会在7月份会议中讨论的整体策略，其中包括为持牌银行而设的定期回购交易以及扩大贴现窗操作的安排。
The discount rates applicable to different levels of holdings of exchange fund paper at the discount window are in turn determined by transparent formulae relating them to the base rate 银行透过贴现窗借款时，须按照贴现的外汇基金票据或债券占其所持总额的百分比而支付的不同贴现率，这贴现率是以基本利率为基础，而其计算方式亦具高透明度。
This was replaced in september 1998 by the discount window arrangement under which banks have unrestricted access to day - end liquidity through repurchase agreements using exchange fund bills and notes as collateral 一九九八年九月，该机制由贴现窗取代，银行从此可不受限制通过以外汇基金票据及债券作为抵押品的回购协议，获取日终流动资金。
The base rate is the interest rate that we charge licensed banks when they come to the discount window operated by us , with exchange fund paper , at the end of the day when they find themselves short of liquidity 日终结算时，有需要的银行可凭外汇基金票据及债券作为抵押，向贴现窗借取流动资金以作周转。换言之，基本利率才是名符其实的本港利率指标。
The sixth technical measure spells out , for the purpose of accessing the discount window , a schedule of discount rates applicable for different percentage thresholds of holdings of exchange fund paper by licensed banks , as follows 第六项技术性措施，是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：
