CRI听力:PBOC to Adjust Bank Deposits Calculation
The People's Bank of China, the country's central bank, may again be adjusting the rules for calculating bank deposits to increase funds available for lending at commercial banks.
Sources say that starting from next year, some interbank deposits, including savings for securities and transaction settlement and savings held by banks for non-deposit-taking financial institutions, will be calculated as regular bank deposits.
Two photos of a document claimed to have been released by the People's Bank of China were posted on Sina Finance website.
The unverified photo reads "The above-mentioned deposits will be calculated under the scope of handing in required reserves, but the reserve requirement ratio will temporarily be fixed at zero".
At present, large commercial banks in China are required to put aside 20 percent of the total deposits they receive as reserve.
For more on the central bank's move to adjust bank deposits calculations, we are now joined live by Mike Bastin, Director of The China Business Centre based in London.
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