China cuts reserve ratio for large banks another 150 bps China's central bank, the People's Bank of China (PBOC), has lowered its reserve requirement for all large financial institutions by another 150 basis points to 11.00 percent, its second cut this year following a 50-point cut in January. All rights reserved. China will implement both broad and targeted cuts in the reserve requirement ratio (RRR) for banks "in a timely manner," China's cabinet said in a … The People's Bank of China (PBOC) announced RRR cuts by 0.5 to 1 percentage points for qualified banks. Under current rules, financial institutions must set aside 20 percent of the previous month's yuan forwards settlement amount as foreign exchange risk reserves. The data is reported by reported by The People's Bank of China. If, for example, the level of reserves is RMB1trn and the reserve requirement ratio 20%, the maximum amount of deposits in the banking system is capped at RMB5trn. In addition, financial institutions' excess reserve requirement ratio with the central bank would be reduced to 0.35 percent from 0.72 percent, effective April 7th. Unlimited access tailored to your data needs, Instant access to full history data in excel. The move is seen reducing banks’ annual funding costs by CNY 15 billion. Services) (RMB bn), GDP: SI: Industry: Manufacturing (RMB bn), GDP: TI: Wholesale and Retail Trade (RMB bn), GIO: Raw Chemical Materials and Products (RMB mn), GIO: Smelting & Pressing of Ferrous Metals (RMB mn), GIO: Electric Machinery and Equipment (RMB mn), GIO: Electronic and Telecom Equipment (RMB mn), Production of Primary Energy: Coal (Ton mn), Production of Primary Energy (SCE Ton mn), CN: Crude Oil: Supply: Trade Balance: Import (Ton mn), CN: Crude Oil: Supply: Trade Balance: Export (Ton mn), CN: Natural Gas: Supply: Trade Balance: Import (Cub m mn), CN: Natural Gas: Supply: Trade Balance: Export (Cub m mn), Production of Primary Energy: Electricity (kWh bn), CN: Steel: Production: Steel Product (SP) (Ton th), CN: Gold: Gross Industrial Output (RMB mn), Nominal Residential Property Price Index (2010=100), Nominal Residential Property Price Index Growth (%), Real Residential Property Price Index (2010=100), Real Residential Property Price Index Growth (%), CN: Commodity Bldg Selling Price: YTD Average (RMB/sq m), CN: Commodity Bldg Selling Price: YTD Average: Residential (RMB/sq m), Property Price: Commercial Building (RMB/sq m), Property Price: Office Building (RMB/sq m), CN: Building Sold: ytd: Residential (RMB mn), CN: Floor Space Completed: ytd: CB: Residential (sq m th), CN: Floor Space Completed: ytd: Commodity Bldg (CB) (sq m th), CN: Floor Space Sold: ytd: Residential (sq m th), CN: Floor Space Started: ytd: Commodity Bldg (CB) (sq m th), CN: Floor Space under Construction: ytd: Commodity Bldg (CB) (sq m th), Consolidated Fiscal Balance: % of GDP (%), Forecast: Government Expenditure (RMB bn), Motor Vehicle Sales: Commercial Cars (Unit), Motor Vehicle Sales: Passenger Cars (Unit), Consumer Confidence: Net Balance (% Point), Retail Sales of Consumer Goods: YoY: Above Designated Size Enterprise (%), Retail Sales of Consumer Goods: YoY: ytd: Above Designated Size Enterprise (%), Commodity Retail: ytd: Automobile (RMB mn), Household Survey (HS): Rural: No of Household (Unit), HS: Rural: No of Person Per Household (Person), Household Survey (HS): Urban: No of Household (Unit), Expenditure per Capita: ytd: 36 City Avg (RMB), Average Income per Capita: ytd: Urban Household: Average (RMB), Domestic Trade Value: Wholesale Enterprises: Wholesale (RMB bn), CPI: Food and Non Alcoholic Beverage Change (%), Forecast: Consumer Price Index Growth (%), CPI: Core (excl. China’s central bank said on Monday it will cut the reserve requirement ratios (RRRs) for small and medium-sized banks effective from May 15, in a targeted policy … The move will release 550 billion yuan (about US$78.57 billion) of long-term funds, the People's Bank of China said. China Cuts Reserve Requirement Ratio China’s central bank cut the amount of cash the nation’s lenders must lock away as reserves, stepping up efforts to cushion an economic slowdown amid plunging stock prices and a weakening currency. PBC latest reserve requirement ratio (RRR) changes: Change date Reserve requirement ratio Extra cash for financial system December 2008: 21.0%: December 2011: 20.5%: 350 billion yuan ($55 billion) May 2012: China Cuts Reserve Requirement Ratio China’s central bank cut the amount of cash the nation’s lenders must lock away as reserves, stepping up efforts to cushion an economic slowdown amid plunging stock prices and a weakening currency. The first cut of 50 bps will be effective as of April 15, and second cut of another 50 bps will be effective as of May 15. Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices. The data is reported by reported by The People's Bank of China. It was the second cut this year, allowing the release of CNY 550 billion, or USD 79 billion, in liquidity to support the economy hurt by the Covid-19 pandemic. The Trading Economics Application Programming Interface (API) provides direct access to our data. A Chinese clerk counts renminbi yuan banknotes in Nantong, East China's Jiangsu province. Yawen Chen, Kevin Yao 5 Min Read BEIJING (Reuters) - China will implement both broad and targeted cuts in the reserve requirement ratio (RRR) for banks “in a … The People's Bank of China (PBOC) said on its website it will cut banks' reserve requirement ratio (RRR) by 50 basis points, effective Jan. 6. Food & Energy) (Prev Year=100), CPI: Food, Tobacco & Liquor: Food: Dried & Fresh Melon & Fruit: Fresh Fruit (Prev Year=100), CPI: Healthcare & Medical Service (HM) (Prev Year=100), CPI: Education Culture & Entertainment (ECE) (Prev Year=100), Retail Price Index: Urban (Prev Year=100), Exports: Medicinal and Pharmaceutical Product (USD th), Imports: Medicinal and Pharmaceutical Product (USD th), CN: Exports: fob: Emerging and Developing Economies: Emerging and Developing Asi... 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(USD mn), Outward Investment: Wholesale and Retail Trade (USD mn), Outward Investment: Financial Intermediation (USD mn), Outward Investment: Leasing and Commercial Service (USD mn), Industrial Enterprise: No of Loss Making Enterprise (Unit), No of Business Entity: New Registration: ytd: Company (Unit mn), QFII: No of Institution: accumulated (Unit), QFII: Approved Investment Fund: accumulated (USD mn), Foreign Exchange Reserves: Months of Import (NA), Debt Service Ratio: Private Non-Financial Sector (%), Credit to Private Non-Financial Sector (USD bn), Monetary Authority: Asset: Total (RMB bn), Nominal Lending Rate: Within 1 Year (Including 1 Year) (% pa), CN: Nominal Lending Rate: Individual Housing Provident Fund Loan: 5 Year or Less (% pa), CN: Nominal Lending Rate: Individual Housing Provident Fund Loan: Over 5 Year (% pa), CN: Effective Exchange Rate Index: BIS: Real (2010=100), CN: Treasury Bond Yield: Interbank: Spot Yield: 1 year (% pa), Natural Gas Production: OPEC: Marketed 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Operation: Central Treasury Cash Management, Saving Deposit: Demand: Prefecture Level City, Saving Deposit: Demand: Prefecture Level Region, Saving Deposit: Time: Prefecture Level City, Saving Deposit: Time: Prefecture Level Region, Shanghai Pudong Development Bank (SPDB): Loan and Deposit, Shanghai Pudong Development Bank (SPDB): Loan and Deposit: in Foreign Currency, Source and Use of Credit Fund: Financial Institution: Annual (Old Classification). 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