In June 1998, the HK$20 Billion Debt Issuance Programme (DIP) was established to raise funds in the institutional market for general financing requirements. In view of the highly successful performance of the DIP as well as the continuous growth in the HKMC's mortgage portfolio, the size of the programme was doubled to HK$40 billion in January 2003.

The TLC Sub-Programme, an important development under the DIP, was established in May 2003 under which the HKMC issues transferable loan certificates to institutional investors. The TLC Sub-Programme helped the HKMC diversify its funding sources and provided it with funding flexibility.

Major features of the DIP are as follows:

The HKMC will consider applications for Primary Dealers and Selling Group Members for its DIP. Interested banks or financial institutions are welcome to submit their applications to the Treasury Department of the HKMC for consideration.