(Yicai Global) Sept. 26 -- China's central bank, the People's Bank of China (PBOC), withdrew CNY 80 billion (USD12.09 billion) from the financial system via open market operations today.
PBOC conducted 14-day reverse repos of CNY40 billion and 28-day reverse repos of CNY10 billion, offset by CNY130 billion of previous reverse repos maturing today. This is the second day in a row that PBOC withdraws supply liquidity from the market.
The 14-day reverse repo bid rate was 2.60 percent and the 28-day rate was 2.75 percent, all unchanged from the last open market operation.
The overnight Shanghai Interbank Offered Rate (SHIBOR) rose 7.90 basis points to 2.8370 percent. The one-week term rate increased 3.04 basis points to 2.9291 percent. The SHIBOR for 3-month loans fell 0.20 basis points to 4.3558 percent.