China c.bank to drain 80 bln yuan via repos

SHANGHAI, Nov 5 - China's central bank will drain 80 billion yuan from the money market on Thursday through 91-day bond repurchase agreements, traders said.

This is in addition to the central bank's planned drain of 66 billion yuan via the sale of three-month bills later on Thursday.

On Tuesday, the People's Bank of China drained 22 billion yuan via a sale of one-year bills, and mopped up another 40 billion yuan through 28-day bond repurchase agreements.

Since a total of 85 billion yuan in central bank bills and repos will mature this week, the central bank appears set to conduct a net drain of 123 billion yuan from the market for the week after draining a net 133 billion yuan last week and 160 billion yuan the week before that.