Bloomberg News

PBOC Says Higher Reserve Ratios for Some Cooperatives to Expire

November 23, 2011

Nov. 23 (Bloomberg) -- China’s central bank said the requirement for reserve ratio of 16.5 percent for more than 20 rural cooperative banks will expire this month, and it will revert back to 16 percent, according to an e-mailed statement released by the Hangzhou branch of the People’s Bank of China today.

The central bank imposed an extra 50 basis points of reserve ratio requirement on those cooperatives on Nov. 25, 2010, for a year, it said.

To contact the editor responsible for this story: Stephanie Wong at swong139@bloomberg.net


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