PBoC launches special lending facility for share buybacks
Governor says central bank might also make further cuts to reserve requirement ratio
China’s central bank today (October 18) launched a special lending facility for banks to facilitate share buybacks.
In a statement, the People’s Bank of China (PBoC) said the facility, which it had announced in September, would provide 21 commercial banks with 300 billion yuan ($42.1 billion) of cheap loans to fund the repurchase of stocks by listed companies or by major shareholders therein.
The PBoC also provided updated details on its swap facility aimed at encouraging stock purchases by
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