China central bank boosts disclosure of short-term liquidity management operations
A Chinese clerk counts RMB (renminbi) at a bank in Huaibei, east Chinas Anhui province, 6 November 2013. Chinas central bank began publishing data on a recently-launched liquidity management tool on Wednesday (5 November 2013), in a step towards improving transparency following a cash squeeze in June that rattled global markets and sparked criticism of the bank for poor communication with the market. The Peoples bank of China (PBOC) said loans outstanding under its Short-term Lending Facility (SLF) dropped to 386 billion yuan ($63.3 billion) at end-September, from 410 billion yuan a month earlier. The PBOC launched the SLF in January, enabling commercial banks to borrow from the central bank for one to three months. The mechanism adds a new tool for authorities to manage short-term liquidity, beyond the use of bond repurchase agreements and central bank bills sol
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