China's reserve ratios for cooperative banks to go down
China’s central bank said the requirement for reserve ratio of 16.5 percent for more than 20 rural cooperative banks will expire this month, and it will revert back to 16 percent.
This was announced by the the Hangzhou branch of the People’s Bank of China today.
The central bank imposed an extra 50 basis points of reserve ratio requirement on those cooperatives on Nov. 25, 2010, for a year, it said.
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