People's Bank of China: Reversal repurchase agreements worth USD7.8B
Date
11/18/2021 4:49:54 AM
(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.
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