China’s PBOC to conduct $84.48-bn outright reverse repo ops today
Pic: Shan_shan / Shutterstock.com
Insights
- The People’s Bank of China has said that it will conduct a 600-billion-yuan (~$84.48 billion) outright reverse repo operation on September 15 to maintain ample liquidity in the domestic banking system.
- The operation will have a tenor of six months (182 days) and will be conducted using a fixed-quantity, interest-rate-bidding and multiple-price-bidding method, the central bank said.
The People’s Bank of China (PBOC) has said that it will conduct a 600-billion-yuan (~$84.48 billion) outright reverse repo operation on September 15 to maintain ample liquidity in the domestic banking system.
The operation will have a tenor of six months (182 days) and will be conducted using a fixed-quantity, interest-rate-bidding and multiple-price-bidding method, according to a statement from the central bank.
The People’s Bank of China has said that it will conduct a 600-billion-yuan (~$84.48 billion) outright reverse repo operation on September 15 to maintain ample liquidity in the domestic banking system.
The operation will have a tenor of six months (182 days) and will be conducted using a fixed-quantity, interest-rate-bidding and multiple-price-bidding method, the central bank said.
Outright reverse repo operations, a tool the central bank introduced in October last year to manage liquidity, are carried out once every month with a tenor of no more than a year.
These operations have enriched the country’s monetary policy toolkit, complementing previous measures such as temporary repos, temporary reverse repos and the buying and selling of treasury bonds, a Chinese news agency reported.
Fibre2Fashion News Desk (DS)
