App

China cuts interest rates on standing lending facility
Updated: August 15, 2023 19:18 Xinhua

BEIJING, Aug. 15 -- China's central bank lowered the interest rates on its standing lending facility (SLF) on Tuesday.

The overnight rate was cut by 10 basis points to 2.65 percent. The seven-day and one-month rates were each lowered by 10 basis points to 2.8 percent and 3.15 percent, respectively, according to the People's Bank of China.

The SLF, introduced by the central bank early in 2013, serves as a channel to meet the liquidity needs of financial institutions. These institutions can take out SLF loans from the central bank, using qualified bonds and other credit assets as collateral.

Copyright© www.gov.cn | About us | Contact us

Website Identification Code bm01000001 Registration Number: 05070218

All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to www.gov.cn.

Without written authorization from www.gov.cn, such content shall not be republished or used in any form.

Mobile

Desktop

Copyright© www.gov.cn | Contact us

Website Identification Code bm01000001

Registration Number: 05070218