Bank of China Lends Through MLF and PSL
Chinese Central Bank lent 24.63 billion dollars (156 billion yuan) to financial institutions via its MLF (medium-term lending facility). 80.1 billion yuan were injected through PSL (supplementary lending). The rates stayed at 3.30%. This was the first financial move after the Bank reduced the RRR (reserve requirement ratio) at commercial banks in order to repay MLFs last month. People’s Bank of China added the reverse repos have been skipped.