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China central bank to conduct six billion yuan bill swaps on Tuesday

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China on September 28, 2018 — Reuters/Files
Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China on September 28, 2018 — Reuters/Files

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

The bill swaps, with a 3-month tenor, will total 6 billion yuan ($855.63 million), Reuters reported citing a statement of the bank.

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