China cenbank weekly open market operations at a glance; PBOC drains 540 bln yuan YTD

April 19 (Reuters) - The People's Bank of China (PBOC) has drained 540 billion yuan ($80.50
billion) on a net basis from money markets via open market operations (OMOs) so far this year.
China's central bank on Wednesday lent 200 billion yuan to financial institutions via its
one-year medium-term lending facility (MLF), with the interest rate unchanged at 3.30 percent,
it said in a statement.
The PBOC drained 410 billion yuan on a net basis from money markets in 2018, with the
outstanding balance in OMOs at 840 billion yuan, as of end-December.
For a table on the PBOC's open market operations in 2018, click:

For information on changes in required reserve ratios, click:
For information on changes in deposit interest rates, click:
For information on changes in loan interest rates, click:

Following is a summary of the PBOC's weekly open market operations this year (in billions of
Week Bills Repos Reverse repos Bills Repos Reverse repos Net drain
starting matured matured issued* issued issued matured* (-) or
15-Apr 300 0 300
8-Apr 0 0 0
1-Apr 0 0 0
25-Mar 0 -110 -110
18-Mar 110 -20 90
11-Mar 20 0 20
4-Mar 0 -220 -220
25-Feb 220 -60 160
18-Feb 60 0 60
11-Feb 0 -680 -680
4-Feb 0 0 0
28-Jan 180 0 180
21-Jan 0 -770 -770
14-Jan 1270 -110 1160
7-Jan 0 -410 -410
31-Dec 110 -430 -320

TOTAL -540

Following is a summary of the PBOC's outstanding medium-term lending facility (MLF) loans (in
billions of yuan):
Maturing Tenor Volume
May one year 156
June one year 663
July one year 690.5
August one year 532
September one year 441.5
November one year 403.5
December one year 473.5
April one year 200

TOTAL 3560

Following is a summary of the PBOC's targeted medium-term lending facility (TMLF) (in billions
of yuan):

Maturing Tenor Volume
January one year 257.5

TOTAL 257.5

Following is historical data for PBOC's FX sales/purchases since February 2018, based on
Reuters calculations (in billions of yuan):
Month Net change
March -0.46
February -0.33
January -1.21
December -4.04
November -57.13
October -91.58
September -119.4
August -2.4
July 10.82
June 7.61
May 9.14
April 7.42
March 7.84
February 4.05

Source: PBOC

* Reverse repos inject funds on issuance and drain funds on maturity.
Note: Reuters calculations of maturing bills and repos count any debt maturing on the
weekend as maturing the following week, as that is when banks receive the cash.

($1 = 6.7081 Chinese yuan)

(Reporting by the Shanghai Newsroom; Editing by Kim Coghill)

2019-04-19 03:31:12

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