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Just worth reminding you that yesterday we....>

CHINA
CHINA: Just worth reminding you that yesterday we flagged the following story:
"the People's Bank of China may not roll over the CNY267.4 billion Targeted
Lending Facility (TMLF) maturing on Friday, according to a report in the China
Securities Journal. Citing Wen Bin, the Journal reported that the TMLF's aim to
boost lending to small-and-medium enterprises has been covered since the PBOC
trimmed the required the reserved-deposit ratio by 100bp for targeted regional
banks. Moreover, the current Medium-Lending Facility's rate is 20 bps lower than
the current rate of 3.15% for TMLF, sapping the demand of financing institutions
participating in the TMLF program."
- Announcements re: TMLF tend to hit around 02:45 BST, and often (but not
always) come after no news re: PBoC daily OMOs.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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