40 billion yuan ($5.9 billion) through 91
day bond repurchase agreements from the money markets on Thursday, traders said.
That puts the People's Bank of China (PBOC) on course to drain a net 67 billion yuan from the banking system this week, after draining a net 2 billion yuan last week.
The bank will mop up 86 billion yuan by selling three-year bills at about 10 a.m. (0200 GMT) on Thursday but will halt the sale of three-month bills because of poor demand.
Following is a summary of the volume of the central bank's bill sales and repo operations for the week (billions of yuan):
Newly issued Maturing Net drain
_____________________________________________________________
Bills
Tuesday 33
Thursday 86
Repos
Tuesday 0
Thursday 40
Bills maturing 62
Repos maturing 30
_____________________________________________________________
TOTAL 159 92 67
($1=6.774 Yuan)
(Reporting by Weizhi Qu and Karen Yeung; Writing by Chen Yixin; Editing by Jacqueline Wong)
((yixin.chen@thomsonreuters.com; +86 21 6104 1713; Reuters messaging: yixin.chen.reuters.com@reuters.net)) Keywords: CHINA OPENMARKET/REPO (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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