• Published on 15 January 2016
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China’s central bank injects $15 billion into the market

Beijing -- China’s central bank said it injected 100 billion yuan ($15.18 billion) of funds into the market via a medium-term lending facility Friday in a bid to keep ample liquidity in the nation’s banking system.

The People’s Bank of China said it offered the funds to nine financial institutions at an interest rate of 3.25%. The lending will have a six-month maturity and it aims to guide banks to step up lending to the nation’s small businesses and agricultural sector.

The central bank said earlier this month that its medium-term lending facility, or MLF, outstanding totaled 665.8 billion yuan at the end of December.

The MLF is a monetary tool that was adopted by the PBOC in 2014.

Re-disseminated by The Asian Banker