IDCBY - China's central bank rolls over some loans to banks as reserve requirements cut

The People's Bank of China partly rolled over maturing medium-term loans on Thursday, as a reduction in the banks' reserve requirements take effect, Reuters reports, citing a PGOC statement.The central bank is keeping the interest rate on 100B yuan ($15.46B) of one-year medium-term lending facility loans to some financial institutions unchanged at 2.95% from previous operations.The new flow of cash didn't cover all of the expiring MLF loans, which total 400B yuan due on the same day.The injection is intended to "keep banking system liquidity reasonably ample", the PBOC said.Chinese banks with U.S. ADSs include  Industrial & Commercial Bank of China (IDCBY), China Construction Bank (CICHY), and Agricultural Bank of China (ACGBY).Previously (July 9), China's central bank reduces banks' reserve requirements to bolster lending

For further details see:

China's central bank rolls over some loans to banks as reserve requirements cut