PBoC to extend lower reserve ratios to promote lending to SMEs: report
2012-11-02 12:23:10
The People's Bank of China aims to boost lending to small businesses by offering lower reserve ratios to financial institutions, reports said citing remarks by PBoC Vice Governor Pan Gongsheng, as appeared in China Securities Journal.
Pan reportedly said that qualified, small and medium-sized financial institutions will have "relatively lower" reserve requirement ratios (RRR). The reserve ratio for small banks is now at 16.5 percent and that for large commercial banks stands at 20 percent after the central bank's 50 basis point-reduction in RRR in May.