PBOC skips fund drain via 28-day repos

Date 8/23/2011 3:58:01 PM Source: SHMET

SHANGHAI - China's central bank will not drain funds from the money markets through 28-day bond repurchase agreements on Tuesday, Reuters reported. 

A total of 25 billion yuan in central bank bills are due to mature this week. The People's Bank of China (PBOC) conducted a net injection of 38 billion yuan into the banking system last week. The central bank will also mop up 3 billion yuan by selling one-year bills at about 10 am on Tuesday, down from 5 billion yuan of such bills sold last week. 

Report by SHMET