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MNI: PBOC Net Drains CNY296 Billion via OMOs Friday

MNI (Singapore)
MNI (Beijing)
Policy NewsAPACChinaPolicy StoryStoryRegion
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The People's Bank of China (PBOC) conducted CNY23 billion via 7-day reverse repos with the rates unchanged at 2.00% on Friday. The operation has led to a net drain of CNY296 billion after offsetting the maturity of CNY319 billion reverse repos 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 1.9857% at 9:23 am local time from the close of 1.9107% on Thursday.
  • The CFETS-NEX money-market sentiment index closed at 45 on Thursday, compared with the close of 42 on Wednesday.
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The People's Bank of China (PBOC) conducted CNY23 billion via 7-day reverse repos with the rates unchanged at 2.00% on Friday. The operation has led to a net drain of CNY296 billion after offsetting the maturity of CNY319 billion reverse repos 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 1.9857% at 9:23 am local time from the close of 1.9107% on Thursday.
  • The CFETS-NEX money-market sentiment index closed at 45 on Thursday, compared with the close of 42 on Wednesday.