The SLO was launched in 2013, focused on a maturity of less than seven days, allowing the PBOC to manipulate short-term liquidity and prevent sharp fluctuations in the money market.
The central bank made three-day SLOs worth 55 billion yuan on Monday, and announced on Tuesday that it would inject over 600 billion yuan to ease the liquidity squeeze expected before the Spring Festival holiday week, which begins on the Lunar New Year`s eve on Feb. 7.
The funds will be injected through tools such as the standing lending facility, medium-term lending facility and pledged supplementary lending.
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