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PBOC has met the surging demand for cash......>

CHINA
CHINA: PBOC has met the surging demand for cash before the Chinese New Year this
month by adding about CNY2 trillion via the so-called Contingent Reserve
Allowances (CRA) and another CNY450 billion via the effect of a required reserve
ratio (RRR) cut: PBOC said on its Weibo account Friday.
 - After the holiday, the CRA will gradually expire while withdrawn cash will
flow back, so the liquidity will remain stable: PBOC;
 - NOTE: PBOC said Dec. 29 that national commercial banks with a relatively
large share of cash injections can withdraw up to 2% of their legal deposit
reserves temporarily for up to 30 days to meet their contingent liquidity gap
during the Spring Festival (Chinese New Year). 

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