Silver Bonds 2024 guarantee an interest rate of 4%, with subscription closing at 2 pm on the 14th. This batch of Silver Bonds has a maturity period of 3 years, with a maximum issuance amount of up to 55 billion HK dollars. The Hong Kong government will announce the results on the 21st of this month. Several banks have indicated that the response to the subscription of Silver Bonds 2024 has been enthusiastic, with the leading banks reporting a decrease in the overall subscription amount compared to the previous batch of Silver Bonds. A spokesperson for HSBC (00005) stated that the number of subscribers and the amount subscribed through the bank have slightly decreased compared to last year, but the average subscription amount per customer has slightly increased. Among HSBC customers who subscribed to the Silver Bonds, over one-fifth were first-time participants, and 41% of HSBC customers who invested in Silver Bonds last year increased their investment this year. This reflects the continued attraction of the new batch of Silver Bonds offering a guaranteed annual interest rate of 4% to elderly customers. More than half of the applications were made through digital channels, reaching a record high. BOC Hong Kong (02388): It is expected that each person can receive more than 20 lots of Silver Bonds Leung Mei Yee, Assistant General Manager of BOC Hong Kong's Personal Banking Products, stated that the amount of subscriptions for Silver Bonds by BOC Hong Kong has reached a new high, with a higher proportion of online channel subscribers compared to previous years, with the number of customers subscribing through mobile banking increasing by over 20%. This year, the average subscription per customer for BOC Hong Kong's Silver Bonds is about 22 lots, higher than the average of about 20 lots last year, and it is expected that each person will receive more than 20 lots. As the Silver Bonds can lock in a guaranteed 4% return for the next three years, it is believed that customers will hold onto the Silver Bonds for long-term interest income. Standard Chartered: Average purchase of 24 lots of Silver Bonds, up from last year A spokesperson for Standard Chartered stated that the response from customers to the subscription of the new batch of Silver Bonds meets expectations, with a similar amount of subscriptions compared to last year. Customers on average subscribed to 24 lots, an increase from last year, with many customers submitting applications through digital channels. BEA: Total subscription amount records double-digit growth The Bank of East Asia (00023) stated that the response from customers to this year's subscription to the Silver Bonds has been enthusiastic, with an increase in total number of subscribers compared to last year, and the total subscription amount and average subscription amount recording double-digit growth. CMBC (Asia): Average purchase of 28 lots of Silver Bonds, up from last year CMBC (Asia) stated that the subscription response for the Silver Bonds was good, with an average subscription amount of about HKD 280,000, a slight increase compared to the previous year, and overall subscription conditions meeting expectations. From October 23, 2024 to October 31, 2024, subscribing through the branch and opening a 3-month HKD fixed deposit amounting to HKD 100,000 to HKD 1 million with the refunded Silver Bonds or new funds, can enjoy an additional annual interest rate of 0.1%. CMB International: Average purchase of 26 lots of Silver Bonds CMB International stated that the average subscription amount per customer was HKD 260,000, and there were also multiple large subscriptions of HKD 1 million. Compared to the previous batch of Silver Bonds, the total subscription amount increased by over 15%; while the number of subscribers and average subscription amount both recorded growth. CMB Wing Lung: Average purchase of 25 lots of Silver Bonds CMB Wing Lung Bank pointed out that the average subscription amount and total subscription amount for the new batch of retail Silver Bonds were similar to last year, with the average subscription amount per customer during the subscription period being HKD 250,000, and also receiving several large subscriptions of HKD 1 million. The percentage of customers subscribing through electronic channels (mobile banking/online banking services) exceeded 70%. SBG: Silver Bonds continue to attract conservative customers, overall subscription is expected to be enthusiastic this year A spokesperson for Shanghai Commercial Bank stated that the subscription response to this year's Silver Bonds has been positive, with the total number of subscribers and subscription amount being similar to last year; as customers have a good understanding of the allocation mechanism for Silver Bonds, the average subscription amount this year is also similar to last year at around HKD 200,000. The spokesperson mentioned that the guaranteed interest rate for the Silver Bonds this time is 4%, and with the market already expecting interest rates to peak, there is a chance for it to fall in the future, making it relatively attractive for conservative customers; it is expected that the overall subscription situation will remain enthusiastic this year. Bright Smart (01428): Average subscription of 20 to 25 lots of Silver Bonds Raymond Yip, CEO of Bright Smart Securities, stated that despite the Hang Seng Index showing a rapid increase starting from the end of September, with a surge of over 5000 points in less than half a month, it did not deter the intention of the public to subscribe to Silver Bonds. He mentioned that the number of subscribers and the subscription amount at the company were similar to last year, with a total subscription amount of nearly 6.2 billion HKD; however, the general trend of customer subscriptions was more aggressive than before, with an average subscription of 20 to 25 lots, and over 10 customers subscribing to the maximum of 100 lots. Yip pointed out that most participating customers are transferring their time deposits from banks to subscribe to Silver Bonds, as they understand that interest rates for bank deposits have significantly decreased after the US rate cut, with large time deposits only yielding 3.5%; if rate cuts continue in the future, deposit interest rates will continue to fall, while on the flip side, Silver Bonds will continue to guarantee a 4% return.