Business
        

Money

Reserve requirements raise becomes effective Thursday

Updated: 2011-02-24 09:27

By Qiang Xiaoji (chinadaily.com.cn)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

Reserve requirements raise becomes effective Thursday

Related readings:
Reserve requirements raise becomes effective Thursday PBOC customizes reserve ratios for 40 local banks
Reserve requirements raise becomes effective Thursday PBOC slaps differentiated reserve ratios on small banks
Reserve requirements raise becomes effective Thursday Reserve requirements raised to tame inflation

The People's Bank of China, China's central bank, announced a raise in the reserve requirement ratio (RRR) by 50 basis points Feb 18. The new standard became effective Thursday, Xinhua reported.

This was the second time that the central bank raised the RRR this year and the eighth time since last year.

After the adjustment, the RRR for large financial institutions will hit a new high of 19.5 percent.

Specials

Kremlin buddies

Dmitry Medvedev and Vladimir Putin inspect Olympic preparations.

Lantern Festival

The Lantern Festival is celebrated across China.

New York Fashion Week

Models line up before a show during New York Fashion Week.

All about the Year of the Rabbit
President Hu visits the US
Ancient life