March 26, 2020 / 1:04 AM / 2 months ago

Bank of Korea to hold 'unlimited' repo operations for 3 mths

SEOUL, March 26 (Reuters) - South Korea’s central bank on Thursday said it will temporarily offer an unlimited amount of money for three months through repo operations to funnel cash to money markets hammered by the coronavirus pandemic

Repo auctions will be held every week, where a wider range of financial institutions will be able to borrow funds at the repo rate of no higher than 0.85%, the BOK said in a statement.

The BOK also said it will accept a wider range of collateral including notes issued by state-run companies. (Reporting by Cynthia Kim Editing by Shri Navaratnam)

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