People's Bank of China drained 2 billion yuan (US$326 million) from the money market despite banks' reported call for cash injection on 25 June, suggesting regulators are keen to keep liquidity tight amid growing jitters of China's financial risks. The 2-billion 91-day bills, though tiny by amount, were viewed as the central bank's commitment to squeezing out excessive funding. Shanghai Interbank Offered Rate (SHIBOR) overnight rate rose 78.30 base points to 5.596 percent as of 11:30 am on that day.