correct: PBOC Cuts 1-Y TMLF Rates 20 Bps, Net Drain CNY211 Bn

--corrects inject to drain in headline

--updates 7-day repo rate

     BEIJING (MNI) - The People's Bank of China (PBOC) lowered the 1-year

targeted medium-term lending facility (TMLF) rate to 2.95% from 3.15% on Friday

while injecting CNY56.1 billion via a 1-year TMLF, according to a statement on

its website. This was the first cut to the rate since the tool was created in

December 2018.

     - This resulted in a net drain of CNY211.3 billion given the maturity of

CNY267.4 billion one-year TMLF today.

     - The 7-day weighted average interbank repo rate for depository

institutions (DR007) rose to 1.5866% at 12:38 am local time from the close of

1.3869% on Tuesday: Wind Information.

     - The CFETS-NEX money-market sentiment index closed at 32 on Thursday vs 36

on Wednesday. A lower index indicates reduced market expectations for tighter

liquidity.

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

[TOPICS: M$A$$$,M$Q$$$,MGQ$$$,MN$MM$]