BEIJING, Jan. 15 (Xinhua) -- China's central bank conducted 959.5 billion yuan (about 133.48 billion U.S. dollars) of seven-day reverse repos at an interest rate of 1.5 percent on Wednesday.

The move aims to keep liquidity in the banking system at an adequate level, the central bank said, as the monetary market is bracing for the expiration of medium-term lending facility operations, the tax payment period, and cash disbursement before the Spring Festival.

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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