UPDATE 1-China frees up $56 bln for virus-hit economy by slashing small banks’ reserve requirements
China’s central bank said on
Friday it was cutting the amount of cash that small and
mid-sized banks must hold as reserves, releasing around 400
billion yuan ($56.38 billion) in liquidity to shore up the
economy, which has been badly jolted by the coronavirus crisis.
Friday it was cutting the amount of cash that small and
mid-sized banks must hold as reserves, releasing around 400
billion yuan ($56.38 billion) in liquidity to shore up the
economy, which has been badly jolted by the coronavirus crisis.
Posted by Reuters
