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PBOC Injects Funds
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CHINA’S central bank yesterday injected funds into the banking system via open market operations to ease a liquidity strain.
The People’s Bank of China conducted 100 billion yuan (US$15.9 billion) of seven-day reverse repos, 30 billion yuan of 28-day reverse repos and 20 billion yuan of 63-day reverse repos, pumping a total of 150 billion yuan into the market.
A reverse repo is a process by which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.
The PBOC said the move aims to offset factors such as the lenders’ payment of required reserves.
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