May 30, 2013 / 6:33 AM / 4 years ago

PBOC weekly open market operations at a glance

May 30 (Reuters) - The People's Bank of China (PBOC) drained 17 billion yuan
($2.77 billion) from the banking system on a net basis this week. 
    The PBOC has drained a net 478 billion yuan from the market so far in 2013.
    It injected a net 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 bond repurchase agreements, reverse bond
repurchase agreements and three-month bills to control 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: 
    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 injection
                             issued*                    matured*  
   27-May       30                         22       25                      -17
   20-May      120       38                16       14                      128
   13-May               101                44       92                      -35
    6-May      110       76                10       92                       84
   29-Apr                30                         30                        0
   22-Apr       90       62                         28                      124
   15-Apr                87                        101                      -14
    8-Apr                                                                   -17
    1-Apr                                                                   -25
   25-Mar                                                                   -57
   18-Mar                                                                   -47
   11-Mar                                                                   -44
    4-Mar                                            5                       -5
   25-Feb                                            5                       -5
   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                                                                  -478
                                                                  
                                                                               
* 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 = 6.1267 Chinese yuan)

 (Reporting by Shanghai Newsroom; Editing by Prateek Chatterjee)

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