China's central bank conducts 10 bln yuan of reverse repos
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E-mail Xinhua, October 14, 2021
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BEIJING, Oct. 14 (Xinhua) -- China's central bank Thursday conducted 10 billion yuan (1.55 billion U.S. dollars) of reverse repos to maintain reasonably ample liquidity in the banking system.
The interest rate for the seven-day reverse repos was set at 2.2 percent, according to the People's Bank of China.
With 100 billion yuan of reverse repos maturing on the same day, the move led to a net withdrawal of 90 billion yuan from the market.
A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future. Enditem
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