China c.bank to auction 80 bln yuan of 3-mth deposits on May 19

BEIJING, May 16 (Reuters) - China's central bank said on Tuesday it would auction 80 billion yuan ($11.61 billion) of three-month deposits to commercial banks on May 19.

The central bank operates the sale on behalf of China's finance ministry, which runs a cash management programme. Banks will bid for the right to take the deposits. ($1 = 6.8895 Chinese yuan) (Reporting by Beijing Monitoring Desk; Editing by Sunil Nair)