BEIJING, Sept. 17 (Xinhua) -- China's central bank Friday conducted a total of 100 billion yuan (about 15.5 billion U.S. dollars) of reverse repos to maintain liquidity in the banking system.
The amount included 50 billion yuan of seven-day reverse repos at an interest rate of 2.2 percent, and 50 billion yuan of 14-day reverse repos at an interest rate of 2.35 percent, according to the People's Bank of China.
With 10 billion yuan of reverse repos maturing on the same day, the move resulted in a net liquidity injection of 90 billion yuan into the market.
A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future. Enditem