June 8, 2020 / 2:11 AM / a month ago

China c.bank to conduct MLF around June 15 as 500 bln yuan of such loans expire

SHANGHAI, June 8 (Reuters) - China’s central bank said it would conduct medium-term lending facility (MLF) operations around June 15, as a batch of 500 billion yuan ($70.55 billion) worth of such loans expired on Monday.

The People’s Bank of China (PBOC) said in an online statement that it would conduct a one-off MLF operation this month, while the volume would be dependent on market demand.

Another batch of MLF loans with a value of 240 billion yuan is due to expire on June 19.

In the same statement, the PBOC said it had injected 120 billion yuan into the banking system on Monday through seven-day reverse repurchase agreements, while keeping the interest rate unchanged at 2.20%.

The reverse repo injection was meant to keep the banking system liquidity “reasonably ample”, it added.

$1 = 7.0871 Chinese yuan Reporting by Winni Zhou and Andrew Galbraith; Editing by Jacqueline Wong

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