Group 1 - The People's Bank of China (PBOC) announced a 500 billion yuan Medium-term Lending Facility (MLF) operation to maintain ample liquidity in the banking system, marking the third consecutive month of increased MLF issuance [1][2] - In May, the PBOC's net MLF injection reached 375 billion yuan, following the maturity of 125 billion yuan in MLF, indicating a proactive approach to liquidity management [1][2] - The recent monetary policy measures, including MLF and reserve requirement ratio (RRR) cuts, aim to support the real economy and enhance credit availability for businesses and households [2][3] Group 2 - The MLF's role has shifted towards a clearer focus on providing one-year liquidity, as its interest rate attribute has gradually diminished [3] - The PBOC's liquidity toolkit has become more diversified, with various instruments available for different timeframes, enhancing the efficiency and precision of liquidity management [3] - Continuous large-scale liquidity operations by the PBOC are designed to optimize the maturity structure of market liquidity, thereby better supporting financial institutions in serving the real economy [3]
中期借贷便利延续加量续作 为实体经济提供有力支持
Jin Rong Shi Bao·2025-05-23 01:42