- CNTV English - CCTV News

Homepage > News > Biz >

PBOC to expand reserve requirement base

08-29-2011 13:57 BJT

The People's Bank of China (PBOC), China's central bank, has issued a notice announcing plans to include margin deposit in the reserve requirement. The margin deposit includes acceptances, letters of credit and letters of guarantee, reported Monday.

The new policy will freeze about 900 billion yuan ($133.83 billion) bank capital. The effect is equivalent to raising the reserve requirement ratio (RRR) by three times, the report said.

The current reserve requirement ratio (RRR) for major banks is 21.5 percent. For small and medium-sized banks, it is 19.5 percent.

Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications and Postal Savings Bank of China will begin to pay the first margin deposit for the reserve requirement on Sept 5. The other banks will begin to pay from Sept 15.

The central bank has yet to confirm the exact details of the margin deposit.

Editor:Yang Jie |Source: China Daily

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program