PBoC ramps up liquidity support for commercial banks

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The People Bank of China injected 500 billion yuan ($72 billion) to the financial system through its medium-term lending facility (MLF) on June 6, offsetting 463 billion yuan of maturing MLF loans.

The action comes after the central bank took over Baoshang Bank, a medium-sized lender that was close to collapse.

In a statement on its website, the PBoC said the interest rate on the one-year MLF loans would remain the same at 3.3%. The injection of liquidity is the second largest of its kind on

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