China's central bank conducts 300b yuan of reverse repos
Xinhua |
Updated: 2022-02-25 13:05
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BEIJING -- China's central bank Friday conducted 300 billion yuan ($47.36 billion) of reverse repos to maintain liquidity in the banking system.
The interest rate for the 7-day reverse repos was set at 2.1 percent, according to the People's Bank of China.
The move aims to keep month-end liquidity in the banking system stable, the central bank said.
A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future.
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