BIS paper finds tightening bias in reserve requirements

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A Bank for International Settlements paper published on Tuesday finds the People’s Bank of China’s (PBoC) preference towards using reserve requirements as a policy instrument places an undue burden on bank customers and small to medium-sized enterprises (SMEs). 

Guonan Ma, Yan Xiandong and Liu Xi, the paper’s authors, examine the evolving role of reserve requirements as a policy tool in China. The authors say that since 2007, the PBoC has relied more on reserve requirements as a tool to withdraw

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