(Yicai Global) Sept. 25 -- China's central bank, the People's Bank of China (PBOC), withdrew CNY80 billion (USD12.1 billion) from the financial system via open market operations today.
PBOC conducted 14-day reverse repos of CNY160 billion and 28-day reverse repos of CNY40 billion, offset by CNY280 billion of previous reverse repos maturing today.
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 operations.
The overnight Shanghai Interbank Offered Rate (SHIBOR) increased 0.20 basis points to 2.7580 percent. The one-week term rate rose 4.07 basis points to 2.8987 percent. The SHIBOR for 3-month loans dropped 0.33 basis points to 4.3578 percent.