PBOC does 90 bln yuan reverse repos, drains 16 bln for week

China’s central bank will inject 90 billion yuan (HK$110 billion) into money markets through reverse bond repurchase agreements on Saturday, traders said, meaning it will drain a net 16 billion yuan from the market this week.

The People’s Bank of China (PBOC) will make the injection of 90 billion yuan through five-day reverse repos.

The central bank delayed its operations from the customary Tuesday and Thursday slots due to a national holiday to mark the new calendar year in the first week of January.

via Business feed http://www.scmp.com/business/article/1120454/pboc-does-90-bln-yuan-reverse-repos-drains-16-bln-week