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China reforms bank deposit rate system to unleash liquidity for small businesses

Summary:
[unable to retrieve full-text content]China’s central bank on Monday reformed the way banks calculate deposit rates, setting new ceilings that will lower lenders’ funding costs to help provide ample liquidity for small businesses.The move will allow banks to set the upper limit on deposit rates by adding basis points to the benchmark rate set by the People’s Bank of China (PBOC), rather than multiplying the benchmark rate, the PBOC‘s Self-Disciplinary Mechanism for the Pricing of Market-Oriented Interest Rates said.The reform will…

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[unable to retrieve full-text content]
China’s central bank on Monday reformed the way banks calculate deposit rates, setting new ceilings that will lower lenders’ funding costs to help provide ample liquidity for small businesses.The move will allow banks to set the upper limit on deposit rates by adding basis points to the benchmark rate set by the People’s Bank of China (PBOC), rather than multiplying the benchmark rate, the PBOC‘s Self-Disciplinary Mechanism for the Pricing of Market-Oriented Interest Rates said.The reform will…

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