The PBOC has (effectively) drained 1 year funds from the banking system

Author: Eamonn Sheridan | Category: Central Banks

The  People's Bank of China has conducted a 150bn yuan Medium Term Lending Facility (MLF) 

  • injects 150bn yuan
  • rate 2.95%
  • 1 year term 
PBOC says this to cover (ie roll over) maturities:
  • 100bn yuan of MLF matures today
  • 56bn yuan of a targeted MLF matures on April 25
Thus a small net drain. 
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