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China central bank injects 23 billion USD funds via SLO

Xinhua, January 20, 2016 Adjust font size:

China's central bank on Wednesday injected 150 billion yuan (22.9 billion U.S. dollars) into the money market through short-term liquidity operations (SLO).

The six-day SLO loans will come at 2.25-percent, the People's Bank of China (PBOC) said on its website.

The SLO was launched in 2013, focused on a maturity of less than seven days, allowing the PBOC to manipulate short-term liquidity and prevent sharp fluctuations in the money market.

The central bank made three-day SLOs worth 55 billion yuan on Monday, and announced on Tuesday that it would inject over 600 billion yuan to ease the liquidity squeeze expected before the Spring Festival holiday week, which begins on the Lunar New Year's eve on Feb. 7.

The funds will be injected through tools such as the standing lending facility, medium-term lending facility and pledged supplementary lending. Endi