IN BRIEF (Page 6)
China Daily | Updated: 2016-02-20 08:15
PBOC to cancel preferential RRR
China's central bank said on Friday that it will abolish preferential reserve requirement ratios for some banks after they failed to meet official requirements. The People's Bank of China found some lenders had failed to meet the RRR standards attached to such cuts. The standards were related to the support for the farm sector. The latest changes to the RRR will take effect on Thursday.
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