China: Central Bank Strengthen Interbank System’s Financial Liquidity · Global Voices

It granted it 10 billion yuan (EUR 1.28 billion) financial liquidity to the banking system through a reverse deposit procedure at an interest rate of 1.8% and a period of seven days. This move by the central bank aims to maintain the financial liquidity of the interbank market, as the People’s Bank of China reported in its communication. The reverse repos process allows China’s central bank to purchase securities from commercial banks through auction, with the agreement of their resale in the future.