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People's Bank of China conducts 500B yuan reverse repurchase
The People's Bank of China (the Central Bank) announced that it will conduct a direct reverse repurchase operation worth 500 billion yuan (approximately $73.6 billion) on Wednesday to maintain ample liquidity in the banking system. The operation will be executed at a fixed amount through interest rate auctions over a three-month period, with winning bids determined at multiple price levels. This operation serves as a renewal of a previous maturity of 300 billion yuan in August and is part of the liquidity management tools introduced by the central bank in October 2024. These tools aim to strengthen China's monetary policy instruments alongside temporary reverse repos and the buying and selling of Treasury bonds.
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