Beijing: China’s central bank on Monday conducted a 900-billion-yuan (about 125.14 billion U.S. dollars) medium-term lending facility (MLF) operation to maintain reasonable and ample liquidity in the banking system.
According to Lao News Agency, the MLF operation has a one-year maturity with an interest rate of 2 percent, unchanged from the rate of the previous operation conducted last month. The initiative is part of China’s ongoing efforts to ensure stability and support economic growth by providing sufficient funds to the banking sector.
After this operation, the outstanding balance of the MLF stood at 6.239 trillion yuan. This measure is aimed at bolstering the banking system’s capacity to support lending and financial activities within the country.