PBOC Adds to Bank Funds Amid Worst Cash Crunch Since June
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China added funds to selected banks today after the benchmark money-market rate jumped the most since a record cash crunch in June.
The People’s Bank of China conducted short-term liquidity operations recently and will continue to supply funds to qualified financial institutions in this way based on the situation, it said on its microblog. The announcement did not give details of the size or pricing of the cash injections. The monetary authority injected 200 billion yuan ($32.9 billion), online financial news provider Netease reported, citing an unidentified person.