PBoC said it will give an additional one-percentage-point reserve ratio requirement cut to banks for agricultural services
People's Bank of China (PBoC) on Sunday announced that it would cut the level of funds that commercial banks must hold in reserve by one percentage point.
In a statement on its website, PBoC said it will give an additional one-percentage-point reserve ratio requirement (RRR) cut to banks for agricultural services and a further two-percentage-point cut to the Agricultural Development Bank of China.
It will also give a 0.5 percent cut to certain banks that give agricultural or small-business loans.
The cuts will "further enhance the ability of financial institutions to support restructuring," the PBoC said.
In a statement on its website, PBoC said it will give an additional one-percentage-point reserve ratio requirement (RRR) cut to banks for agricultural services and a further two-percentage-point cut to the Agricultural Development Bank of China.
It will also give a 0.5 percent cut to certain banks that give agricultural or small-business loans.
The cuts will "further enhance the ability of financial institutions to support restructuring," the PBoC said.
No comments:
Post a Comment