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China c.bank injects 47.6 bln yuan via pledged supplementary lending on Wed
May 10, 2017 / 2:04 AM / 6 months ago

China c.bank injects 47.6 bln yuan via pledged supplementary lending on Wed

SHANGHAI, May 10 (Reuters) - China’s central bank said it injected 47.6 billion yuan ($6.89 billion) through the pledged supplementary lending (PSL) facility on Wednesday.

China’s outstanding PSL stood at 2,299.70 billion yuan at the end of April, the People’s Bank of China said at the beginning of this month.

The PSL programme, initiated in 2014, is designed to help the central bank better target medium-term lending rates while boosting liquidity to specific sectors by offering low-cost loans to selected banks. ($1 = 6.9064 Chinese yuan) (Reporting by Winni Zhou and Brenda Goh; Editing by Eric Meijer)

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