May 2, 2018 / 9:06 AM / 24 days ago

UPDATE 1-China central bank lends 367.50 bln yuan via MLF in April

 (Adds details on lending operations)
    SHANGHAI, May 2 (Reuters) - China's central bank said on
Wednesday that it lent 367.50 bln yuan ($57.79 bln) to financial
institutions via its medium-term lending facility (MLF) in
April.
    Outstanding MLF was reduced to 4.017 trillion yuan at the
end of April compared with 4.917 trillion yuan a month earlier,
the People's Bank of China said in a statement on its website.
    The difference in the outstanding MLFs, with a total value
of 900 billion yuan, came from released liquidity after a
reduction in banks' reserve requirements (RRR). 
    The PBOC said its reduced requirements for bank reserves,
which came into effect on April 25, released a total of almost
1.3 trillion yuan, out of which 900 billion yuan had been used
by the banks to repay their respective outstanding MLF,
according to the statement.
    It added that 156 billion yuan in outstanding MLF loans will
be due this month.
    The PBOC did not inject any fresh funds via the liquidity
tool in April as same amount of MLF loans was expiring,
according to Reuters calculations based on official data.
    The People's Bank of China uses the MLF and the standing
lending facility as tools for managing short- and medium-term
liquidity in the country’s banking system.

 (Reporting by Winni Zhou and John Ruwitch; Editing by Kim
Coghill)
  
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