SHANGHAI :
PBOC Drains USD22.3 Billion From Financial System via OMO
Dou Shicong
DATE:  Oct 16 2020
/ SOURCE:  Yicai
PBOC Drains USD22.3 Billion From Financial System via OMO PBOC Drains USD22.3 Billion From Financial System via OMO

(Yicai Global) Aug. 16 -- The People's Bank of China net withdrew CNY150 billion (USD22.3 billion) from the financial system via an open market operation today.

The central bank conducted a seven-day reverse repo of CNY50 billion with an interest rate of 2.20 percent, against CNY200 billion in previous Medium-term Lending Facilities that matured today.

The PBOC also engaged in a one-year MLF of CNY500 billion and a seven-day reverse repo of CNY50 billion yesterday to cover today's due amount. It has renewed MLFs in larger amounts for straight three months.

Editor: Ben Armour

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Keywords:   PBOC,Central Parity Rate