Markets

PBOC to drain 97bn yuan via 28-day repos

Published May 13, 2014 Updated May 13, 2014 04:35am

1 min

By Shoaib Ur Rehman

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SHANGHAI: China's central bank will drain 97 billion yuan ($15.6 billion)from the money markets through 28-day forward bond repurchase agreements on Tuesday, traders said.

Maturing bills and repos will inject a net 228 billion yuan into the banking system this week.

The People's Bank of China (PBOC) conducted a net drain of 60 billion yuan from the banking system last week.

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