MNI: PBOC Net Drains CNY500.2 Bln via OMO Wednesday

MNI (BEIJING) - The People's Bank of China (PBOC) conducted CNY28.6 billion via 7-day reverse repos, with the rate unchanged at 1.40%. The operation led to a net drain of CNY500.2 billion after offsetting maturities of CNY528.8 billion today, according to Wind Information.

• The seven-day weighted average interbank repo rate for depository institutions (DR007) rose to 1.4423% at 09:34 am local time from the close of 1.4326% on Tuesday.
• The CFETS-NEX money-market sentiment index, measuring interbank money-market liquidity, closed at 47 on Tuesday, the same as the close on Monday. A higher reading points to tighter liquidity condition, with 50 representing an equilibrium.