China’s central bank rolls over $15.46b maturing mid-term loans: report

Fund injection is meant to keep banking system liquidity reasonably ample, PBOC said.

Fund injection is meant to keep banking system liquidity reasonably ample, PBOC said.

The People’s Bank of China (PBOC) has partially rolled over maturing medium-term loans on 15 July, the same day when a cut in bank’s reserve requirements takes effect, reports Reuters.

In an online statement, PBOC said that it is keeping the interest rate on $15.46b (CNY100b) worth of one-year medium-term lending facility (MLF) loans to some financial institutions steady at 2.95%.

The central bank said the fund injection was meant to "keep banking system liquidity reasonably ample" as many institutions still had mid- to long-term cash demand amid the tax payment season.

The fresh fund injection did not cover all the expiring MLF loans with a value of about $61.8b (CNY400b) that are due on the same day.

Read more from Reuters

(CNY1 = US$0.15)

Photo courtesy of Eric Prouzet

China medium-term lending facility loans

China medium-term loans

People's Bank of China

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