C. Bank Drains 2 Bln Yuan in Regular Open Market Ops

The People's Bank of China (PBoC) said it drained 2 bln yuan from the banking system via the sale of one-year bank bills in today's open market operations.

The bank said in a statement published on its website that the yield for the paper was 3.6055 pct, compared with the 3.4554 pct level last week and 3.4447 pct the week before.

The PBoC sold 1 bln yuan in equivalent last Tuesday.

Separately, the central bank said it soaked up 4 bln yuan via 28-day repurchase agreements at 3.05 pct, on top of last week's 4 bln yuan sterilization drive also via this instrument at 3.03 pct.