SHANGHAI (Reuters) - China’s central bank rolled over maturing medium-term facility (MLF) loans on Tuesday, two banking sources said.
Interest rates on the MLF loans were unchanged at 2.95 percent for six-month loans and 3.1 percent for one-year loans, the sources said.
The amount of maturing MLF loans on Tuesday is 194 billion yuan ($28.11 billion), according to Reuters calculations based on the data from the central bank.
The MLF is a supplementary policy tool that the People’s Bank of China uses to manage liquidity conditions and medium-term interest rates in the banking system and money markets.
Reporting by Shanghai Newsroom; Editing by Sherry Jacob-Phillips