The Bank of Korea(BOK) on Thursday provided over five trillion won to the capital market in its first repurchase agreement or repo operation.

It marks the first supply after the bank vowed to release an "unlimited" amount of liquidity to fight off the effects of the coronavirus pandemic, a move viewed as de facto quantitative easing. 

The yield on the 91-day repurchase agreements was set at zero-point-78 percent, up three basis points from the base rate of zero-point-75 percent. 

The BOK said it purchased the entire amount of over five-point-two trillion won requested by banks and security companies.

The central bank earlier decided to conduct repo operations every week for the next three months to help ease the liquidity crunch caused by the pandemic. A repurchase agreement is a form of short-term borrowing where both parties agree to the sale and future repurchase of assets.