Announcement on Open Market Business No.3 [2024]

(Open Market Operations Office, July 8, 2024)

To primary dealers of open market operations,

In order to keep the liquidity adequate at a reasonable level in the banking system, and enhance the precision and efficiency of open market operations, the People’s Bank of China will conduct temporary repo operations or temporary reverse repo operations as appropriate between 16:00 to 16:20 on working days, effective from today, with an overnight maturity. The temporary overnight repo and reverse repo operations shall be conducted through quantity bidding, with the interest rates fixed at the 7-day reverse repo rate minus 20 bps and plus 50 bps, respectively. If the operation is carried out on that day, an Announcement on Open Market Operations will be issued upon the completion of the operation.

The notice is hereby released.