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China raises bank reserve ratio to rein in credit
By Zhang Fengming |
January 14, 2011, Friday
|
Online Edition
Online Edition
CHINA today asked banks to put aside more money from lending, the first such order this year after sixth same measures to curb liquidity in 2010.
The reserve requirement ratio on banks will rise by 0.5 percentage points from January 20, the People's Bank of China said on its website.
Banks will face a record high of 19 percent requirement.
The new order is estimated to siphon US$50 billion out from the market.
The reserve requirement ratio on banks will rise by 0.5 percentage points from January 20, the People's Bank of China said on its website.
Banks will face a record high of 19 percent requirement.
The new order is estimated to siphon US$50 billion out from the market.
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