Briefly

Central bank bills swap conducted

The People's Bank of China conducted a central bank bills swap operation on Tuesday to improve the liquidity of perpetual bonds. The three-month CBS, valued at 5 billion yuan ($704.57 million), is open to primary dealers for bidding at a fixed rate of 0.1 percent, the central bank said in a statement. A CBS allows dealers to swap the perpetual bonds they hold for central bank bills. Perpetual bonds are fixed-income securities with no maturity date and are not redeemable but pay a steady stream of interest in perpetuity.

PBOC adds liquidity via reverse repos

China's central bank conducted 383 billion yuan ($53.97 billion) of seven-day reverse repos at an interest rate of 1.8 percent on Tuesday. It also conducted 85 billion yuan of 14-day reverse repos at an interest rate of 1.95 percent. The move aims to keep liquidity reasonable and ample at the end of the year, the People's Bank of China said in a statement.

Xinhua - China Daily