December 24, 2019 / 1:24 AM / a month ago

China central bank to conduct 6 billion yuan bill swaps on Tuesday

FILE PHOTO: Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee

BEIJING (Reuters) - China’s central bank will conduct a bill swap operation to support the issuance and liquidity of perpetual bonds issued by banks to replenish capital, it said on Tuesday.

The bill swaps, with a 3-month tenor, will total 6 billion yuan ($855.63 million), the central bank said in a statement.

Reporting by Lusha Zhang, Colin Qian and Ryan Woo; Editing by Muralikumar Anantharaman

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