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China's Central Bank Conducts 10 Bln Yuan Of Reverse Repos
June 22nd, 2021 | 13:19 PM | 1024 views
BEIJING
China's central bank Tuesday conducted 10 billion yuan (about 1.55 billion U.S. dollars) of reverse repos to maintain reasonably ample liquidity in the banking system.
The interest rate for the seven-day reverse repos was set at 2.2 percent, according to a statement on the website of the People's Bank of China.
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.
Source:
courtesy of XINHUA NEWS AGENCY
by XINHUA NEWS AGENCY
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