Central Bank Drains 36 Bln yuan in Open Market Operations - ResearchInChina

Date:2007-07-27liaoyan  Text Size:

The People's Bank of China said it drained 36 bln yuan from the banking system via the sale of three-year bonds and three-month bank bills in today's open market operations.

In a statement published on its website, the bank said that the yield for the 1 bln yuan worth of three-year central bank bonds sold was 3.72 pct, up from 3.62 pct last week.

Some 35 bln yuan worth of three-month central bank bills were auctioned off at 2.7868 pct, compared with 2.7461 pct last Thursday.

The central bank usually issues one-year bills on Tuesdays and three-year and three-month paper on Thursdays.

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