March 7, 2018 / 2:02 AM / 17 days ago

China central bank rolls over maturing MLFs with rate unchanged

SHANGHAI (Reuters) - China’s central bank lent 105.5 billion yuan ($16.67 billion) to financial institutions on Wednesday via its 1-year medium-term lending facility (MLF), it said in a statement.

FILE PHOTO: A Chinese national flag flutters outside the headquarters of the People's Bank of China, the Chinese central bank, in Beijing, China April 3, 2014. B REUTERS/Petar Kujundzic/File Photo

The new MLF loans effectively rolled over the same amount of a batch of 1-year MLFs expiring on the same day. Another 189.5 billion of the same tenor is due to mature on March 16.

In the same statement, the People’s Bank of China (PBOC) said it skipped reverse repos on Wednesday morning.

On Dec. 14, the PBOC raised interest rates on liquidity tools, including the one-year MLF, to 3.25 percent.

Reporting by Winni Zhou and John Ruwitch; Editing by Eric Meijer

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