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     BEIJING (MNI) - The People's Bank of China injected CNY398 billion in its
one-year Medium-term Lending Facilities (MLF) loans on Monday, with the rate
unchanged at 3.25%, it said on its website.
     This resulted in a net injection of CNY215.5 in MLF loans, as CNY182.5
billion in MLF loans mature on Monday.
     The PBOC said that the operations, including reverse repos, aim to hedge
the impacts of tax payments, reserves payments and maturing reverse repos and
MLF loans, and to keep liquidity condition in banking system reasonable and
stable. 
     The PBOC also said the operations have taken account the impact of the
flexible and orderly use of the contingent reserve arrangement (CRA), which was
announced on Dec. 29 last year, to provide liquidity for national commercial
banks to satisfy surging cash demands around Chinese New Year holiday.
     Another CNY107 billion in MLF loans will mature on Jan. 24. 
--MNI Beijing Bureau; +86 10 85325998; email: he.wei@marketnews.com
--MNI Beijing Bureau; +86 10 8532 5998; email: william.bi@mni-news.com
[TOPICS: M$A$$$,M$Q$$$,MN$MM$,MN$RP$]