China and India take divergent paths in liquidity management debate


The People's Bank of China (PBoC) and the Reserve Bank of India (RBI) have recently adopted divergent approaches to manage issues of liquidity in their interbank markets through different treatment of their respective bank funding windows.

The PBoC's standing liquidity facility (SLF) was introduced in January this year to provide liquidity support to financial institutions to supplement its repo operations in the money markets. Banks borrow funds from the central bank under this facility on indi

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