Off the wire
• Gunmen kill political worker in Indian-controlled Kashmir  • Beijing issues air pollution alert  • Indonesia steps up preparation for Asian Games  • Roundup: Myanmar's new investment law encourages export-oriented businesses  • 1st LD Writethru: Bob Dylan wins 2016 Nobel Prize in Literature  • China pledges closer cooperation with Philippines ahead of Duterte's visit  • Premier Li reiterates efforts to boost innovation, entrepreneurship  • Nigerian vice-president to receive freed Chibok girls: spokesman  • Urgent: Thai King Bhumibol Adulyadej passes away at 88  • Japan's Fujifilm to invest in China Resources Pharmaceutical Group  
You are here: 　 Home

China central bank pumps more money into financial market

Xinhua, October 13, 2016 Adjust font size:

The central bank said Thursday that it had pumped 301 billion yuan (about 44.7 billion U.S. dollars) into the financial system in open market operations via medium-term lending facility (MLF).

The MLF tool was first introduced in 2014 to help commercial and policy banks maintain liquidity by allowing them to borrow from the central bank by using securities as collateral.

The fresh funds were injected into 18 financial institutions, according to the People's Bank of China.

Interest rates for MLF loans were unchanged at 2.85 percent for the 217-billion-yuan six-month loans, and 3 percent for the 84-billion-yuan one-year loans.

At a press conference Monday, deputy governor of the People's Bank of China Fan Yifei said the central bank will maintain a prudent monetary policy with timely fine-tuning to create a favorable environment for debt reduction. Endi