The People's Bank of China (PBoC) would conduct a CNY 1.1 trillion (USD 154.8 billion) outright reverse repo operation on Thursday, October 9, aiming to maintain ample liquidity in the national banking system. The operation employed a fixed-quantity, interest-rate bidding, and multiple-price-level bidding method. The transaction carried a term of three months (91 days). With CNY 300 billion in three-month outright reverse repos maturing this month, the operation resulted in a net increase of CNY 300 billion in outstanding three-month reverse repos for October. Outright reverse repo operations - introduced by the central bank in October 2024 as a liquidity management tool - are conducted monthly and carry a tenor of no more than one year.