China central bank says will offer targeted liquidity support to small and mid-sized banks

June 9, 2019

BEIJING (Reuters) – China’s central bank said on Sunday that it will use various policy tools to keep liquidity in the market reasonably ample, and provide targeted liquidity support to small and mid-sized banks.

The People’s Bank of China (PBOC) made the above comments in a meeting chaired by the state council’s Financial Stability and Development Committee.

Participating banks including state-owned big banks and joint-stock lenders said in the meeting that volatility in the interbank market had eased.

Chinese markets were rattled late last month after the government took over troubled regional lender Baoshang Bank.

(Reporting by Stella Qiu, Muyu Xu and Tony Munroe; Editing by Kim Coghill)

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