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China’s central bank injects $44 billion into financial system

by ChemOrbis Editorial Team -
  • 14/04/2016 (15:09)
China’s central bank, the People’s Bank of China, injected CNY285.5 billion ($44 billion) worth of funds into the financial system on Wednesday, April 13 by means of its medium-term lending facility (MLF) tool, which allows banks to use securities as collateral to borrow from the central bank, according to media reports.

Aiming to maintain liquidity in the market, CNY127 billion ($19.5 billion) of the loans were made for 3 months and CNY158.5 billion ($24.5 billion) were made for 6 months, at interest rates of 2.75% and 2.85%, respectively.
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