China cbank says to conduct 5 bln yuan in bill swaps Wednesday

Credit: REUTERS/JASON LEE

China's central bank said on Wednesday it will conduct a central bank bill swap operation to support the issuance and liquidity of perpetual bonds issued by banks to replenish capital.

BEIJING, Sept 11 (Reuters) - China's central bank said on Wednesday it will conduct a central bank bill swap operation to support the issuance and liquidity of perpetual bonds issued by banks to replenish capital.

The bill swaps, with a 3-month tenor, will total 5 billion yuan ($702.97 million), the central bank said in a statement.

($1 = 7.1121 Chinese yuan renminbi)

(Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)

((vincentsy.lee@thomsonreuters.com; +86-10-56692108; follow me on Twitter @Rover829;))

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