emirates7 - The People's Bank of China on Tuesday announced that it will carry out a 500-billion-yuan (about US$72.89 billion) outright reverse repo operation on Wednesday to maintain ample liquidity in the banking system, Xinhua News Agency reported.

The operation will be carried out with a fixed quantity through interest-rate bidding, with winning bids determined at multiple price levels and featuring a maturity period of six months.

As 600 billion yuan of six-month outright reverse repos are due to mature in April, this means Wednesday's outright reverse repo operation represents a reduced rollover.

Outright reverse repo operations, a tool the central bank introduced in October 2024 to manage liquidity in the national banking system, are carried out once each month with a tenor of no more than one year.