The People's Bank of China said that, effective immediately, it has moved the operating window for temporary overnight repo and reverse repo open market operations to 15:00 to 15:30 on working days, reset the rates to 25 basis points below and above the seven-day reverse repo rate, and clarified that it will launch the relevant operation when the overnight money market rate DR001 remains below or above the corresponding tool rate, taking primary dealers' demand into account.
Central Bank of the Republic of China2026-06-17
People's Bank of China adjusts temporary overnight open market operation hours and rates and clarifies DR001 trigger
The People's Bank of China has, with immediate effect, changed the operating window for temporary overnight repo and reverse repo operations to 15:00 to 15:30 on working days and set the rates at 25 basis points below and above the seven-day reverse repo rate. It also clarified that persistent moves in DR001 below or above the relevant tool rate may trigger the corresponding operation based on primary dealers' demand.