PBOC Steps In To Maintain Mainland Banking Liquidity
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2021-12-21 HKT 11:28
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The People's Bank of China (PBOC) on Tuesday conducted a total of 20 billion yuan (about US$3.1 billion) of reverse repurchase agreements, or repos, to maintain liquidity in the mainland's banking system, according to the Xinhua News Agency.
The PBOC said the amount included 10 billion yuan of seven-day reverse repos at an interest rate of 2.2 percent, and the same amount of 14-day reverse repos at an interest rate of 2.35 percent.
A reverse repurchase agreement is a process in which a central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.
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