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China's Christmas Present To The World: Beijing Eases Again, Sets Non-Bank Deposit Reserve To Zero
Thursday, December 25, 2014 15:25
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China’s Central Bank to Relax Calculation of Banks’ Loan-to-Deposit Ratio
In another Christmas surprise, China once again decided to adjust the cost of money, only this time instead of hiking, it eased, and in an effort to shore up the world's second-largest economy, China Business News reported that the PBOC will waive reserve requirements for non-bank deposits.
As the WSJ adds, at a meeting with big financial institutions on Wednesday, the People's Bank of China told participants that they will soon be able to add deposits from nonbank financial institutions to their calculations of their loan-to-deposit ratios, according to the executives.
The move would add considerably to the banks' deposits and allow them to lend more …. http://www.zerohedge.com
Source: http://luismmx.blogspot.com/2014/12/chinas-christmas-present-to-world.html
