MNI BRIEF: PBOC Unveils CNY1 Trillion Outright Reverse Repo

The People's Bank of China will conduct a CNY1 trillion outright reverse repo operation on Feb 13, according to a statement on its website on Thursday. 

With a term of six months, the operation will use a fixed-quantity, rate-bidding, multiple-price winning method, the statement said. It will be the largest monthly iteration of its six-month outright reverse repo since the Bank started the operation last October. 

The Bank operated a CNY800 billion three-month outright reverse repo early this month, which means it will inject as much as CNY1.8 trillion of liquidity through outright reverse repos in February. (See MNI CHINA MONEY MARKET INDEX: More Liquidity For CNY Holiday)