June 20, 2013 / 2:27 AM / 4 years ago

PBOC weekly open market operations at a glance

SHANGHAI, June 20 (Reuters) - The People's Bank of China (PBOC) conducted a
net injection of 28 billion yuan ($4.57 billion) into the banking system this
week, according to Reuters' calculations. 
    The PBOC has drained a net 198 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 bond repurchase agreements and three-month
bills to maintain liquidity.
    
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: 
    
 Week      Bills    Repos    Reverse  Bills   Repos   Reverse   Net drain (-)
 starting  matured  matured  repos    issued  issued  repos     or injection
                             issued*                  matured*  
   17-Jun       18       14                4                                 28
   10-Jun                92                                                  92
    3-Jun      110       92               18      24                        160
   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                                                                  -198
    
* 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 = 6.1269 Chinese yuan)

 (Reporting by Gabriel Wildau and SHANGHAI NEWSROOM; Editing by Kim Coghill)

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