PBOC Launches 100 Billion Yuan in Medium-term Lending Facilities in May

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The People’s Bank of China (PBOC) announced on 1 June that it provided 100 billion yuan in medium-term lending facilities (MLF) to Chinese financial institutions in the month of May, in order to “keep liquidity rationally ample in the banking system, and with reference to the liquidity needs of financial institutions.”

The one-year rate was 2.95%, while the MLF balance as of the end of May was 4.09 trillion yuan.

In the final week of May PBOC also made a net injection of 370 billion yuan via reverse repo operations across three consecutive days from 26 to 27 May.

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