Jan 10 (Reuters) - The People's Bank of China (PBOC) conducted a net drain

of 220 billion yuan ($35.33 billion) from the banking system this week, the

biggest drain since mid-October.

The PBOC injected a net total of 1.438 trillion yuan in 2012. The central

bank also reduced banks' required reserve ratio (RRR) twice, in February and

again in May, injecting an estimated 800 billion yuan into the banking system.

Since then it has refrained from further cuts to RRR or to interest rates,

instead relying mostly on short-term reverse bond repurchase agreements to

maintain liquidity in the interbank market.

For a table on the PBOC's open market operations in 2012, click:

For information on changes in required reserve ratios, click:

For information on changes in deposit interest rates, click:

For information on changes in loan interest rates, click:

Following is a summary of the PBOC's weekly open market operations this year

(in billions of yuan):

Week Bills Repos Reverse Bills Repos Reverse Net drain

starting matured matured repos issued issued repos (-) or

issued* matured* injection

7-Jan 93 313 -220

31-Dec 90 110 -20

TOTAL -240

* Reverse repos inject funds on issuance and drain funds on maturity.

Note: Reuters calculations of maturing bills and repos count any debt

maturing on the weekend as maturing the following week, as that is when banks

receive the cash.

($1 = 6.2262 Chinese yuan)

(Reporting by Chen Yixin and Pete Sweeney in Shanghai; Editing by Anand Basu)

Keywords: CHINA OPENMARKET/WEEKLY

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