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George Liu
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I am the Chief Financial/Economics Columnist of The Daily Political Review, a Monitored Contributor for FOREXPROS, a Seeking Alpha Certified Contributor, as well as a paid blogger for The Motley Fool Blog Network. I also currently serve on the Board of Directors for Ureka Co. Currently, I am... More
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  • Record Injection From The PBOC 0 comments
    Oct 30, 2012 5:32 PM | about stocks: GXC, PEK, DSUM, CYB

    The People's Bank of China opened up 290 billion yuan ($33.16 billion) of seven-day reverse repurchase agreements at 3.35% during its regular open market operation and 105 billion yuan of 28-day reverse repos at 3.60% on Tuesday. This represents the "largest single-day exercise on record" according to the Wall Street Journal.

    The reason for such a significant injection? The PBOC wanted to ease a potential liquidity crunch created by banks and other commercial lenders tightening their lending in order to meet their month-end capital requirements.

    Stocks: GXC, PEK, DSUM, CYB
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