China withdraws 61,725 ​​million euros from the financial system in one week


Several 100 yuan banknotes in Beijing, China. EFE / WU HONG / Archive
(WU HONG /)

Beijing, Jul 3 (EFE) .- The People’s Bank of China (BPC, central) this week withdrew a total of 490,000 million yuan (69,438 million dollars, 61,725 ​​million euros) from the financial system, the news portal reported today. Yicai economic.
The institution has been letting funds injected into the banking system expire through reverse repurchase agreements (“repos”) since Monday without carrying out any operation to replace the funds that were leaving it.
The last of these maturities, today’s, is estimated at 110,000 million yuan (15,571 million dollars, 13,857 million euros).
“Currently, total liquidity in the banking system is at relatively high levels, and can absorb the effect of the maturity of the central bank’s ‘repos’, as well as the issuance of government bonds and other factors,” the website explains. PCB.
Repos, one of the main liquidity injection tools for the Chinese central bank, is an instrument by which securities conditional on an agreement are sold to buy back at a later date.