PBOC to drain 20 bln yuan via 14-day repos

SHANGHAI: China's central bank will drain 20 billion yuan ($3.27 billion) from the money markets through 14-day bond repurchase agreements on Tuesday, traders said.

Maturing repos will inject a net 40 billion yuan into the banking system this week. The People's Bank of China (PBOC) neither drained nor injected funds in the banking system last week.