BEIJING, Nov 14 (Reuters) - China’s central bank said on Tuesday it would auction 120 billion yuan ($18.08 billion) of three-month deposits to commercial banks on Nov. 17.
The maturity date of the deposits is Feb. 23.
The central bank’s stated auction amount differs from the finance ministry‘s, which said on Monday the central bank will auction 80 billion yuan of three-month deposits to commercial banks on Nov. 17.
The finance ministry has yet to respond to a fax from Reuters seeking clarification.
The central bank operates the sale on behalf of China’s finance ministry, which runs a cash management programme. Banks will bid for the right to take the deposits.
$1 = 6.6388 Chinese yuan Reporting by Beijing Monitoring Desk; Editing by Sam Holmes