China c.bank to sell 17 bln yuan of 1-year bills
SHANGHAI, Feb 22 (Reuters) - China's central bank said on Monday that it would auction 17 billion yuan ($2.5 billion) of one-year bills in its regular open market operations on Tuesday, down from 24 billion yuan of such bills sold in the last sale on Feb. 9.
A total of 76 billion yuan in People's Bank of China (PBOC) bills and repos will mature this week but the latest reserve ratio hike, effective on Thursday, is estimated to absorb about 300 billion yuan from the system to result in a net drain for the week.
The PBOC did not conduct open market operations during the Lunar New Year, resulting in a net injection of 75 billion yuan from those bills and repos maturing in that period.
($1 = 6.82 yuan)
SHANGHAI, Feb 22 (Reuters) - China's central bank said on Monday that it would auction 17 billion yuan ($2.5 billion) of one-year bills in its regular open market operations on Tuesday, down from 24 billion yuan of such bills sold in the last sale on Feb. 9.
A total of 76 billion yuan in People's Bank of China (PBOC) bills and repos will mature this week but the latest reserve ratio hike, effective on Thursday, is estimated to absorb about 300 billion yuan from the system to result in a net drain for the week.
The PBOC did not conduct open market operations during the Lunar New Year, resulting in a net injection of 75 billion yuan from those bills and repos maturing in that period.
($1 = 6.82 yuan)