China to ex­tend in­crease in re­serve ra­tio for some banks

The Pak Banker - - Company& -

BEI­JING: China's cen­tral bank ex­tended a tem­po­rary 50 ba­sis point in­crease in the re­serve re­quire­ment for some of the nation's len­ders by three months, said two peo­ple briefed on the mat­ter.

The in­crease, im­ple­mented in Oc­to­ber for two months un­til De­cem­ber, is now set to ex­pire in March, said the peo­ple, who asked not to be iden­ti­fied as they weren't au­tho­rized to speak on the mat­ter.

China raised the re­quire­ment in Oc­to­ber for In­dus­trial & Com­mer­cial Bank of China Ltd., China Con­struc­tion Bank Corp., Bank of China Ltd., Agri­cul­tural Bank of China Ltd., China Mer­chants Bank Co. and China Min­sheng Bank­ing Corp., three peo­ple with knowl­edge of the mat­ter said at the time. -PB News

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