China's central bank gives 250b yuan in loans to banks

China's central bank said on Friday it had extended 250 billion yuan of loans to 11 financial insitutions after previous such loans made under a medium-term lending facility expired. 

PHOTO: REUTERS

JUL 3, 20156:15 PM

[BEIJING] China's central bank said on Friday it had extended 250 billion yuan of loans to 11 financial insitutions after previous such loans made under a medium-term lending facility expired.

The new loans, with a maturity of six months and at an interest rate of 3.35 per cent, will ensure adequate liquidity in the banking system and help boost support for key sectors of the economy, the central bank said.

A total 384.5 billion yuan of such loans to 14 financial institutions matured on Friday and 11 of them requested an extension, the central bank said, without giving further details.

REUTERS