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China lowers reserve ratios for five main banks

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China cuts reserve ratios for five big banks temporarily amid cash squeeze: sources, Government & Economy

China cuts reserve ratios for five big banks temporarily amid cash squeeze: sources, Government & Economy*/

China bank has allowed its five biggest banks to temporarily lower the amount of cash that they must hold as reserves, to ease seasonal liquidity tightness amid huge cash demand heading into the long Lunar New Year holiday, three sources with direct knowledge of the matter said.[SHANGHAI] China bank has allowed its five biggest banks to temporarily lower the amount of cash that they must hold as reserves, to ease seasonal liquidity tightness amid huge cash demand heading into the long Lunar New Year holiday, three sources with direct knowledge of the matter said.The People’s Bank of China (PBOC) has cut the reserve requirement ratio (RRR) for the banks by one per cent age point, taking the ratio down to 16 per cent.
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China lowers reserve ratios for five main banks

China lowers reserve ratios for five main banks*/

In a bid to front growing demand for cash and provide relief to its financial system, China’s central bank has reportedly lowered the amount of money the country’s five biggest lenders must hold as reserves.The People’s Bank of China (PBOC) is understood to have cut the reserve requirement ratio (RRR) by a percentage point to 16%, the first time in almost a year the central bank has taken such a step, surprising economists who had not expected the bank to act until late 2017.The temporary measure comes in response to increasing demand for cash in the lead-up to China’s Lunar New Year holiday, the country’s biggest festival of the year.
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China cuts reserve ratios for big five banks temporarily amid cash crunch: sources

China cuts reserve ratios for big five banks temporarily amid cash crunch: sources*/

A woman walks past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, June 21, 2013.REUTERS/Jason Lee/File PhotoSHANGHAI China has allowed its five biggest banks to temporarily lower the amount of money that they must hold as reserves to relieve pressure in its financial system as demand for cash surges ahead of the Lunar New Year holiday, three sources with direct knowledge of the matter said.The People’s Bank of China (PBOC) has cut the reserve requirement ratio (RRR) for the banks by a full percentage point, taking the ratio down to 16 percent, the sources said.
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