(Bloomberg) -- China raised the amount of foreign currencies that lenders must keep as reserves and instructed them to strengthen management of such holdings, according to a notice issued by the central bank.
Banks must keep 5 percent of their foreign-currency deposits as reserves, up from 4 percent, according to a People's Bank of China circular to lenders obtained by Bloomberg News. The increase will take effect May 15, the circular said.
Read more at Bloomberg Currencies News
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment