Source: CCTV.com

02-14-2008 11:20

China's central bank says it will auction up to 90 billion yuan of three-year bills in its regular open market operations on Thursday, sharply up from 23 billion yuan in the last sale two weeks ago.

China's central bank says it will auction up to 90 billion  yuan of three-year bills in its regular open market operations  on Thursday.

The central bank also says it will on Thursday auction to 30 billion yuan of three-month bills and 75 billion yuan of one-year bills. It is estimated that the auction this time is equal to raise 0.5 percentage point of banks' saving reserve ratio. The market was closed for Lunar New Year holidays from February 6th through 12th.

Since a total of 34 billion yuan in central bank bills and repos will mature this week, the central bank is set to conduct a net drain from the market this week. The bank may also drain funds through repos on Thursday.

Editor:Xiong Qu