BEIJING, Nov. 15 (Xinhua) -- China's central bank conducted 981 billion yuan (about 136.27 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.5 percent Friday.

The move aims to offset the impact of factors such as maturing medium-term lending facility (MLF) and tax payment peak, and to keep liquidity in the banking system adequate at a reasonable level, the central bank said.

A batch of 1.45 trillion yuan worth of MLF is expected to mature Friday.

A reverse repo is a process in which the central bank purchases securities from commercial banks through bidding, with an agreement to sell them back in the future. Enditem

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