China central bank's Standing-Lending Facility position at zero by end-March
BEIJING, May 5 (Xinhua) – The People's Bank of China (PBOC), or the central bank, said on Monday that the outstanding amount of its Standing-Lending Facility (SLF), a liquidity management tool that China rolled out at the beginning of 2013, was reduced to zero at the end of the first quarter.
According to a statement posted on PBOC's website, the position for SLF reached 290 billion yuan at the end of January and fell to 70 billion yuan at the end of February.
The PBOC said in another statement that it offered short-term liquidity to commercial banks via SLF before Chinese Lunar New Year holiday in February to maintain appropriate liquidity, and then withdrew the funds all offered via SLF during Chinese Lunar New Year holiday due to cash inflows to banks and changes in foreign exchange flows.
The quarterly size of SLF totaled 340 billion yuan, according to PBOC. (Edited by Ding Lei, email@example.com)