PBOC to sell 99 bln yuan 1-yr bills, most in a yr
SHANGHAI, March 28 (Reuters) - China's central bank said on Monday that it would auction 99 billion yuan ($15.1 billion) of one-year bills on Tuesday, the biggest sale of that tenor and up from 50 billion yuan of such bills sold last week.
A total of 131 billion yuan in central bank bills are due to mature this week, although no repos are due. The People's Bank of China (PBOC) conducted a net drain of 103 billion yuan from the banking system last week.
Following is a summary of the volume of the PBOC's bill sales and repo operations so far this week (billions of yuan):
Newly issued Maturing
Bills maturing 131
Repos maturing 0
TOTAL n/a 131
TBA: to be announced ($1=6.56 Yuan)
(Reported by Yixin Chen and Jacqueline Wong)
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