The People's Bank of China announced that, in order to maintain ample liquidity in the banking system, on October 15, 2026, it will conduct RMB 700 billion of outright reverse repurchase operations through a fixed-quantity, interest rate bidding process with multiple price levels. The term is 6 months (182 days), and the maturity date is April 15, 2027 (postponed if it falls on a holiday).