China cenbank drains 1.25 trln yuan YTD in open market operations

Nov 9 (Reuters) - The People's Bank of China (PBOC) has drained 1.25 trillion yuan ($180.33
billion) on a net basis from money markets via open market operations so far this year.
The PBOC drained 65 billion yuan on a net basis from money markets in 2017, with the
outstanding balance in its open market operations at 1.25 trillion yuan, as of end-December.
For a table on the PBOC's open market operations in 2017, 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:

Following is a summary of the PBOC's weekly open market operations this year (in billions of
yuan):
Week Bills Repos Reverse repos Bills Repos Reverse Net drain (-)
starting matured matured issued* issued issued repos or injection
matured*
5-Nov 0 0 0
29-Oct 0 -490 -490
22-Oct 490 -30 460
15-Oct 30 0 30
8-Oct 0 -160 -160
1-Oct 0 0 0
24-Sep 60 -290 -230
17-Sep 330 -270 60
10-Sep 330 0 330
3-Sep 0 0 0
27-Aug 0 -170 -170
20-Aug 170 -130 40
13-Aug 130 0 130
6-Aug 0 0 0
30-Jul 0 -210 -210
23-Jul 0 -370 -370
16-Jul 580 -40 540
9-Jul 30 -120 -90
2-Jul 10 -510 -500
25-Jun 300 -670 -370
18-Jun 370 -230 140
11-Jun 480 -240 240
4-Jun 200 -500 -300
28-May 780 -370 410
21-May 290 -320 -30
14-May 490 -80 410
7-May 130 -270 -140
30-Apr 270 -380 -110
23-Apr 250 -520 -270
16-Apr 490 -20 470
9-Apr 10 -110 -100
2-Apr 10 -20 -10
26-Mar 0 -160 -160
19-Mar 60 -380 -320
12-Mar 240 0 240
5-Mar 0 -240 -240
26-Feb 390 -270 120
19-Feb 580 0 580
12-Feb 0 0 0
5-Feb 0 -220 -220
29-Jan 0 -760 -760
22-Jan 500 -820 -320
15-Jan 1060 -470 590
8-Jan 450 -410 40
1-Jan 0 -510 -510


TOTAL -1250

Following is a summary of the PBOC's outstanding medium-term lending facility (MLF) loans (in
billions of yuan):
Maturing Tenor Volume
date
2018
December one year 473.5

2019
January one year 390
February one year 383.5
March one year 431.5
April one year 366.5
May one year 156
June one year 663
July one year 690.5
August one year 532
September one year 441.5
November one year 403.5

TOTAL 4931.5

Following is historical data for PBOC's FX sales/purchases since August 2017, based on Reuters
calculations (in billions of yuan):
Month Net change
2018
September -119.4
August -2.4
July 10.82
June 7.61
May 9.14
April 7.42
March 7.84
February 4.05
January 4.48
2017
December -36.32
November 2.37
October 2.1
September 0.85
August -0.82
Source: PBOC

* 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 = 6.9318 Chinese yuan)

(Reporting by the Shanghai Newsroom, Editing by Sherry Jacob-Phillips)


2018-11-09 03:30:19

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