China c.bank 3-month bill yield flat at auction

SHANGHAI, Nov 5 - China's central bank auctioned 66 billion yuan of three-month bills in its regular open market operations on Thursday at a yield of 1.3280 percent, traders said, in line with market expectations.

The three-month bill yield was at 1.3280 percent for an 11th auction in a row.

The People's Bank of China is also draining 80 billion yuan via 91-day bond repurchase agreements on Thursday, traders said. On Tuesday, it mopped up 22 billion yuan via a sale of one-year bills, and another 40 billion yuan via 28-day repos.

Since a total of 85 billion yuan in central bank bills and repos will mature this week, the central bank is set to conduct a net drain of 123 billion yuan from the market this week after draining a net 133 billion yuan last week and 160 billion yuan the week before last. (Reporting by Zhong Hua and Karen Yeung; Editing by Jacqueline Wong)