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MNI: PBOC Net Drains CNY35 Bln Via OMOs Tuesday

MNI (Singapore)
MNI (Beijing)

The People's Bank of China (PBOC) conducted CNY2 billion via 7-day reverse repos on Tuesday, with the rates unchanged at 2.00%. The operation has led to a net drain of CNY35 billion after offsetting the maturity of CNY37 billion reverse repo 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 1.9339% at 09:22 am local time from the close of 1.7950% on Monday.
  • The CFETS-NEX money-market sentiment index closed at 44 on Monday, same as the close on Friday.

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