FX.co ★ PBoC Pauses 7-Day Repos for 3rd Day, Plans Big Overnight Liquidity

The People’s Bank of China (PBoC) said on Thursday, August 13, that it conducted no seven-day reverse repos for a third consecutive day, citing conditions reported by primary dealers. Separately, the central bank announced it will conduct up to CNY 600 billion in overnight reverse repos per day on August 14 and August 17–19. The PBoC uses these short-term liquidity operations to “fine-tune cash conditions” in the banking system, seeking to balance market demand with stable funding.