China's central bank conducts 10 bln yuan of reverse repos

2021-06-22 05:01:00 GMT2021-06-22 13:01:00(Beijing Time) 

BEIJING, June 22 (Xinhua) -- China's central bank Tuesday conducted 10 billion yuan (about 1.55 billion U.S. dollars) 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. Enditem