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China central bank drains 29 bln yuan via paper sale
Wednesday, January 23, 2008
BEIJING (XFN-ASIA) - The People's Bank of China (PBoC) said it drained 9 bln yuan from the banking system via the sale of three-year bank bills in open market operations today.
The bank said in a statement on its website that the yield on the paper stood at 4.56 pct, unchanged from last week.
A further 20 bln yuan worth of three-month central bank bills yielded 3.4071 pct, also unchanged from last week.
The bank also drained 22 bln yuan out of the banking system via seven-day repos and 12 bln via 28-day repos.
The central bank carries out regular open-market operations on Tuesdays and Thursdays.
(1 usd = 7.3 yuan)
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