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Market Update: BPoC Injects CNY 120 Billion into Market
The People’s Bank of China injected a total CNY 120 billion of reverse repos to maintain liquidity in the banking system on September 23rd, 2021. The injection comes at a time when China’s second largest private property developer Evergrande faced a Thursday deadline to pay interest on one of its dollar bonds. The amount included CNY 60 billion of seven-day reverse repos at an interest rate of 2.2 percent, and CNY 60 billion of 14-day reverse repos at an interest rate of 2.35 percent. source: People’s Bank of China [/s2If]
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