Chinese Central Bank Launches 400 Billion Yuan in Medium-term Lending Facilities

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The People’s Bank of China (PBOC) launched 400 billion yuan (approx. USD$57.09) in medium-term lending facilities (MLF) on 15 July, with a term of one year and a rate of 2.95%.

The rate for the latest MLF operation was the same as recent operations, and is a rollover of two batches of maturing MLF’s from earlier this month as well as a targeted MLF (TMLF) scheduled to mature later in July, said PBOC in an official statement.

The two MLF batches that expired in July are worth 400 billion yuan, while the TMLF can roll over with a total term of three years.

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