China's central bank conducts 10b yuan of reverse repos
Xinhua |
Updated: 2021-06-03 13:57
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BEIJING - China's central bank Thursday conducted 10 billion yuan ($1.57 billion) 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.
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