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China central bank to inject 35 billion yuan via OMO, resuming 28-day tenor – Traders

SHANGHAI – China’s central bank said it will inject 35 billion yuan ($5.06 billion) through open market operations on Wednesday, traders said.

The People’s Bank of China (PBOC) is injecting 15 billion yuan through seven-day reverse bond repurchase agreements and 20 billion yuan through 28-day reverse repos, according to the traders.

The last time the PBOC injected funds via the 28-day tenor was on Jan. 18.

On a net basis, the central bank will drain 25 billion yuan from the market for the day, as 60 billion yuan worth of reverse repos are set to expire on Wednesday.

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