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China's central bank conducts 150 bln yuan of reverse repos

2022-03-30 13:25

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BEIJING, March 30 (Xinhua) -- China's central bank on Wednesday conducted 150 billion yuan (about 23.6 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system.

The interest rate for the 7-day reverse repos was set at 2.1 percent, according to the People's Bank of China.

The move aims to keep quarter-end liquidity in the banking system stable, the central bank said.

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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