November 1, 2018 / 8:17 AM / a year ago

China outstanding medium-term lending facility at 4.93 trln yuan at end-Oct

BEIJING, Nov 1 (Reuters) - China’s outstanding medium-term lending facility (MLF) was 4,931.5 billion yuan ($709.26 billion) at end-October compared with 5,383.00 billion yuan at end-September, the central bank said on Thursday.

Some financial institutions used funds released from a cut in reserve requirement ratios (RRR) to repay 451.5 billion yuan worth of MLF borrowings on Oct. 13, the central bank said in a statement on its website, adding that it didn’t issue any funds via MLF in the month.

The People’s Bank of China uses the MLF and the standing lending facility as tools for managing short- and medium-term liquidity in the country’s banking system. ($1 = 6.9530 Chinese yuan renminbi) (Reporting by Beijing Monitoring Desk; Editing by Kim Coghill)

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