The Bank of Korea to Conduct 3rd RP Purchase on 14th... Injecting 3.17 Trillion Won into Market
[Asia Economy Reporter Eunbyeol Kim] The Bank of Korea injected 3.17 trillion won into the market through the third repurchase agreement (RP) purchase on the 14th.
The Bank of Korea announced that 3.17 trillion won was bid and fully allotted in the 91-day RP purchase conducted that day. The Bank of Korea is purchasing government bonds and other securities with the condition of reselling them after a certain period to provide unlimited liquidity to banks, securities firms, and others.
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Due to the financial market fluctuations caused by the novel coronavirus infection (COVID-19), the Bank of Korea has conducted RP purchases three times targeting financial institutions so far. A total of 11.88 trillion won has been supplied, including 5.25 trillion won in the first round and 3.46 trillion won in the second round.
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