Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
An important disclaimer is at the bottom of this article.
Source: People's Republic of China – State Council News
BEIJING, Oct. 15 (Xinhua) — The People's Bank of China (PBOC, the central bank) on Tuesday announced it will conduct a 600 billion yuan (about 84.48 billion U.S. dollars) direct reverse repo operation on Oct. 15 to maintain sufficient liquidity in the country's banking system.
The transaction will be carried out over a period of 6 months or 182 days based on a fixed volume method, interest rate tender, and multiple pricing, the bank said in a statement.
Direct reverse repo operations are a tool introduced by the National Bank of the Republic of Kazakhstan to manage liquidity in the country's banking system. They are conducted once a month for a period of no more than one year.
These operations enriched the state's monetary policy toolkit, complementing previous measures, including temporary repos, temporary reverse repos, and the purchase and sale of government bonds. -0-
Please note: This information is raw content obtained directly from the source. It represents an accurate account of the source's assertions and does not necessarily reflect the position of MIL-OSI or its clients.