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China Launches New Lending Tool Ahead of Year-End Loan Expiry

The central bank launches open market buyout reverse repurchase operation tool

The central bank has decided to launch the open market buyout reverse repurchase operation tool from now on. The operation target is the primary dealers in the open market business. In principle, the operation will be carried out once a month for a period of no more than one year. Open market buyout reverse repurchase adopts fixed quantity, interest rate bidding, and multiple price bidding. The repurchase targets include Treasury Bond, local government bonds, financial bonds, corporate credit bonds, etc. The results of the operation will be disclosed to the public through the relevant columns of official website of the People's Bank of China.

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The operation target is the primary dealers in the open market business. In principle, the operation will be carried out once a month for a period of no more than one year. Open market buyout reverse repurchase adopts fixed quantity, interest rate bidding, and multiple price bidding. The repurchase targets include Treasury Bond, local government bonds, financial bonds, corporate credit bonds, etc. The results of the operation will be disclosed to the public through the relevant columns of official website of the People's Bank of China."}],"images":[],"coverImages":[],"html":"<html><head></head><body><p>Nice</p></body></html>","htmlText":"<html><head></head><body><p>Nice</p></body></html>","text":"Nice","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/365009448509600","repostId":2478115169,"repostType":2,"repost":{"id":"2478115169","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1032215980","head_image":"https://community-static.tradeup.com/news/4567337cbdf294b657b1fa87c5488b48"},"pubTimestamp":1730077049,"share":"https://www.laohu8.com/m/news/2478115169?lang=&edition=full","pubTime":"2024-10-28 08:57","market":"us","language":"en","title":"China Launches New Lending Tool Ahead of Year-End Loan Expiry","url":"https://stock-news.laohu8.com/highlight/detail?id=2478115169","media":"Reuters","summary":"China central bank activates open market outright reverse repo operations facilityBEIJING, Oct 28  - China's central bank announced on Monday it had activated its open market outright reverse repo operations facility and would use it to trade with primary dealers in open market operations on a monthly basis. The bank took the decision to maintain a \"reasonable abundance of liquidity in the banking system and further enrich the central bank's monetary policy toolbox,\" it said in a statement. The operations will be carried out once a month, with a tenor of less than one year.   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the article added.</p><p></p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSTECH":"恒生科技指数","JD":"京东","00700":"腾讯控股","YINN":"三倍做多富时中国ETF-Direxion","09988":"阿里巴巴-W","YANG":"三倍做空富时中国ETF-Direxion","09618":"京东集团-SW","BABA":"阿里巴巴","HSI":"恒生指数"},"source_url":"https://api.refinitiv.com/data/news/v1/stories/urn:newsml:reuters.com:20241028:nP8N3L609H:1","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2478115169","content_text":"China's central bank launched a new lending tool on Monday to inject more liquidity into the market and support credit flow in the banking system ahead of the expiration of trillions of yuan in loans at the end of the year.The People's Bank of China said in a statement it had activated the open market outright reverse repo operations facility to \"maintain a reasonable abundance of liquidity in the banking system and further enrich the central bank's policy toolbox\".Some 2.9 trillion yuan ($406.58 billion) in medium-term loans are due to mature between now and the end of December, which would make it harder for banks to finance investment and revive flagging growth in the world's second-largest economy.Despite taking effect today, the PBOC did not mention the new tool in Monday's open market operations statement.In a separate statement announcing the new facility, the PBOC said it would use it to trade with primary dealers in OMO on a monthly basis.The announcement said the new tool would have a tenor of less than one year, longer than those for regular reverse repo operations, which typically have tenors of seven, 14 or 28 days, are conducted daily and normally require collateral.The operations would help the central bank raise funds through commercial banks buying securities with the intention of selling those same assets back in the future at a profit.Beijing is counting on massive financial stimulus announced in September to kickstart lending and investment, as a sharp property market downturn and frail consumer confidence weigh on investor confidence.The PBOC, which has steadily reduced interest rates and injected liquidity, is under pressure to do more to ensure the economy grows at the government's target of around 5% this year.State-owned Shanghai Securities News said in an article published shortly after the PBOC notice that the new tool would cover three- and six-month tenors and aid liquidity adjustments over the next year, citing people close to the central bank.\"The central bank's choice to launch this new tool at this time is also expected to be a better hedge against the concentrated expiry of medium-term lending facility before the end of the year,\" the article added.","news_type":1},"isVote":1,"tweetType":1,"viewCount":101,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/365009448509600"}