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China c.bank to drain 75 bln yuan via 28-day repo

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China c.bank to drain 75 bln yuan via 28-day repo

2010-04-20 01:36 (UTC)

SHANGHAI, April 20 (Reuters) - China's central bank will drain 75 billion yuan ($10.99 billion) from the money market on Tuesday through 28-day bond repurchase agreements, traders said.

This is in addition to the People's Bank of China's (PBOC) planned drain of 40 billion yuan via the sale of one-year bills later on Tuesday.

A total of 198 billion yuan in PBOC bills and repos will mature this week. Last week, the central bank drained a net 14 billion yuan from the market, the smallest weekly net drain since mid-February.


sure are draining alot...wonder what the out come was?

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