Financial Services

China injects 257.5 bln yuan via lending facility

SHANGHAI, Jan 23 (Reuters) – China’s central bank said on Wednesday it has injected 257.5 billion yuan ($37.83 billion) to some commercial banks via targeted medium-term lending facility (TMLF) for the first time to spur lending to small and private firms.

The People’s Bank of China (PBOC) said the one-year interest rate on the TMLF was 3.15 percent, 15 basis points lower than the rate on it medium-term lending facility loans.

The TMLF will mature in one year but the banks will be allowed to roll it over for two more years, the central bank said in a statement on its website. ($1 = 6.8072 Chinese yuan) (Reporting by Winni Zhou and John Ruwitch Editing by Shri Navaratnam)


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