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Full story in Chinese: ,abercrombie
The People's Bank of China issued one-year bills with a higher yield on July 28,polo ralph lauren, clearly to dilute excess liquidity by locking up funds in the market.
The central bank drains money from the system via its regular operations on Tuesdays, when it issues repos, and Thursdays,abercrombie, while it issues bills.
The PBOC became more provocative at mid-year in reducing liquidity from the market,moncler, which included the resumption of one-year bills,ralph lauren, said a mercantile bank official who declined to be identified. But demand for capital increased at approximately the same period, as initial public offerings resumed,coach handbags, so the central bank might not need to conduct further great open-market operations.
The People's Bank of China resumed one-year bill issues on July 10,coach outlet, later more than six months,doudoune moncler, and it sold 50 billion yuan of one-year bills at a yield of 1.5022 percent. Yields have since risen steadily.
1 yuan = 14 US cents
The central bank suspended issues of six-month, one-year and three-year bills at the end of final annual in a push to increase bank lending. Bank loaning grew by 7.4 trillion yuan in the 1st half.
Also on July 28,moncler, the PBOC drained 50 billion yuan via 28-day repurchase concerts,ralph lauren pas cher, with the yield rising to 1.12 percent from 1.09 percent a week earlier.
By staff correspondent Zhang Man
(Caijing.com.cn) China's chief bank drained 15 billion yuan from the mall through one auction of one-year bills on July 28, with the yield rising 5.17 basis points from the previous auction to 1.6984 percentage.
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