PBOC discusses new bank reserve requirements

cctv.com 03-10-2004 14:31

The People's Bank of China is discussing the possibility of launching new reserve requirements for China's commercial banks in a bid to restrain excessive lending amid worries of an over-heating economy. The outstanding value of loans to Chinese financial institutions stood at over 2 trillion US dollars at the end of last year. That's 360 billion US dollars more than in 2002. China raised the reserve requirement for banks and other deposit-taking institutions by 1 to 7 percent in 2002, resulting in a freeze on some 18 billion dollars of reserves.

Editor:Zhang  Source:CCTV.com