Business & Finance
PBoC to drain 22bn yuan via 28-day repos
SHANGHAI : China 's central bank will drain 22 billion yuan ($3.4 billion) from the money markets through 28-day bond r
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A total of 132 billion yuan in central bank bills and repos are due to mature this week. The People's Bank of China (PBOC) conducted a net injection of 120 billion yuan into the banking system last week.
The People's Bank of China (PBOC) will also mop up 2 billion yuan by selling one-year bills at about 10 a.m. (0200 GMT) on Tuesday.
Copyright Reuters, 2011