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China's central bank tightens liquidity
By Zhang Fengming |
January 12, 2010, Tuesday
|
Online Edition
Online Edition
CHINA asked banks to freeze more money from lending for the first time in more than a year as the central bank quickens tightening.
The reserve ratio - the amount of money a bank must put at the central bank from lending - will increase 0.5 percentage points on yuan deposits starting January 18, the People's Bank of China said on its Website this evening.
The increase is the first such move since December 2008.
Big banks will meet 16 percent requirement while small banks are required to put aside 14 percent of their capital. Rural banks and rural cooperatives are exempted from the requirement ratio rise to support the development of the rural areas, the central bank said.
The reserve ratio - the amount of money a bank must put at the central bank from lending - will increase 0.5 percentage points on yuan deposits starting January 18, the People's Bank of China said on its Website this evening.
The increase is the first such move since December 2008.
Big banks will meet 16 percent requirement while small banks are required to put aside 14 percent of their capital. Rural banks and rural cooperatives are exempted from the requirement ratio rise to support the development of the rural areas, the central bank said.
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