accountThe People's Bank of China (PBOC) announced a 50 basis point cut in the required reserve ratios (RRR) for deposit taking financial institutions, effective 18 May 2012. The new required reserve ratios will average 20.00% for large banks, and 18.00% for small banks. The move is expected to add as much as 400 billion yuan of liquidity to the financial system. The move marks a continued shift in...
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