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China: Central bank consumes liquidity from marketplace
(MENAFN) China's central bank on Monday, January 4, carried out 20 billion yuan (about USD3.06 billion) of reverse repos to keep steady liquidity in the banking system.
The interest rate for the seven-day reverse repos was set at 2.2 percent, according to a report on the website of the People's Bank of China.
Meanwhile, 160 billion yuan of reverse repos matured on the same day, resulting in a net liquidity removal of 140 billion yuan from the marketplace.
A reverse repo is a procedure in which the central bank buys securities from commercial banks through bidding, with an accord to sell them back in the future.
The interest rate for the seven-day reverse repos was set at 2.2 percent, according to a report on the website of the People's Bank of China.
Meanwhile, 160 billion yuan of reverse repos matured on the same day, resulting in a net liquidity removal of 140 billion yuan from the marketplace.
A reverse repo is a procedure in which the central bank buys securities from commercial banks through bidding, with an accord to sell them back in the future.
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