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MNI: PBOC Net Drains CNY239 Billion via OMOs Wednesday

MNI (Singapore)
MNI (Beijing)

The People's Bank of China (PBOC) conducted CNY203 billion via 7-day reverse repos and CNY499 billion via 1-year Medium-term Lending Facility on Wednesday, with the rates unchanged at 2.00% and 2.75% respectively. The operation has led to a net drain of CNY239 billion after offsetting the maturity of CNY641 billion reverse repos and CNY300 MLF today, according to Wind Information.

  • The operation aims to keep banking system liquidity reasonable and ample, the PBOC said on its website.
  • The 7-day weighted average interbank repo rate for depository institutions (DR007) rose to 1.9642% at 9:30 am local time from the close of 1.9637% on Tuesday.
  • The CFETS-NEX money-market sentiment index closed at 44 on Tuesday, compared with the close of 45 on Monday.
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