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People's Bank of China: Reversal repurchase agreements worth USD7.8B
(MENAFN) On Thursday, Nov.16 People's Bank of China used reversal repurchase agreements to infuse about USD7.8 billion further into banking industry.
According to China's central bank, the cost of borrowing for a week- reversal repurchase agreements has been fixed at 2.2 percent.
The banking system declared, the measure intends to maintain the financial scheme's liquidity relatively steady.
A reversal repurchase is a transaction wherein the financial system buys assets of financial institutions via a bids only with intention of offering them to sale later.
According to China's central bank, the cost of borrowing for a week- reversal repurchase agreements has been fixed at 2.2 percent.
The banking system declared, the measure intends to maintain the financial scheme's liquidity relatively steady.
A reversal repurchase is a transaction wherein the financial system buys assets of financial institutions via a bids only with intention of offering them to sale later.
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