BEIJING (Xinhua): China's central bank cut the interest rate of targeted medium-term lending facility (TMLF) to 2.95 per cent on Friday (April 24), 20 basis points lower than the previous TMLF.
The People's Bank of China renewed 267.4 billion yuan in TMLF operations that came due Friday to maintain liquidity, with the new operation of 56.1 billion yuan.
Large commercial banks, joint-stock banks and major city commercial banks that lend heavily to the real economy and meet macro prudent requirements can apply for the TMLF.
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