The People's Bank of China announced that effective 24th February 2012, it will lower the reserve requirement ratio by 50 basis point to 20.5 percent for large commercial banks, underling its efforts to ease short-term credit crunch. The cut is the second time in three months. The move releases an estimated 400 billion yuan in capital into the market.
The bank in December 2011 cut the reserve requirement ratio by 50 basis points for the first time since December 2008.
by RTT Staff Writer
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