TABLE-PBOC weekly open market operations at a glance

Wed Feb 20, 2013 10:22pm EST

Related Topics

Feb 21 (Reuters) - The People's Bank of China (PBOC) conducted a net drain
of 910 billion yuan ($146 billion) from the banking system this week, a record
high weekly net drain, according to Reuters' calculations. 
    The PBOC has drained a net 548 billion yuan from the market so far in 2013. 
  
    It injected a net total of 1.438 trillion yuan in 2012. The central bank
also reduced banks' required reserve ratio (RRR) twice in 2012, injecting an
estimated 800 billion yuan into the banking system.
    Since then, it has refrained from further cuts to RRR or to interest rates,
instead relying mostly on short-term reverse bond repurchase agreements to
maintain liquidity in the interbank market.
    For a table on the PBOC's open market operations in 2012, click:
 
    For information on changes in required reserve ratios, click: 
    For information on changes in deposit interest rates, click: 
    For information on changes in loan interest rates, click: 
    Following is a summary of the PBOC's weekly open market operations this year
(in billions of yuan): 
 Week          Bills    Repos    Reverse   Bills   Repos   Reverse   Net drain
 starting      matured  matured  repos     issued  issued  repos     (-) or
                                 issued*                   matured*  injection
       18-Feb                                          50       860       -910
        4-Feb                         860                       198        662
       28-Jan                         180                       121         59
       21-Jan                         101                       150        -49
       14-Jan                          20                        90        -70
        7-Jan                          93                       313       -220
       31-Dec                          90                       110        -20
                                                                              
 TOTAL                                                                    -548
 * Reverse repos inject funds on issuance and drain funds on maturity.  
    Note: Reuters calculations of maturing bills and repos count any debt
maturing on the weekend as maturing the following week, as that is when banks
receive the cash.
($1 = 6.2376 Chinese yuan)

 (Reporting by Gabriel Wildau; Editing by Michael Urquhart)
FILED UNDER: