Some ICBC and BOC branches refuse to lend

Unable to meet loan-to-deposit requirements.

Caixin Online reported that branches of the Industrial and Bank of China Commercial Bank of China and have stopped lending amid China’s lingering liquidity squeeze. ICBC and BOC are part of China’s “Big Four” state-owned banks

Caixin Online is part of Caixin Media Company Ltd, a Beijing-based media group providing financial and business news and information.

ICBC, China’s largest bank, has set a limit on lending. What is unusual, however, is that ". . . headquarters had cut down on the quotas to make room for its own operations," said Caixin.

Bank of China was reportedly having a hard time meeting loan-to-deposit requirements since before the liquidity squeeze and it plans to resume lending on July 15.

The People's Bank of China, the central bank, eased some of the liquidity squeeze pressure by injecting more money into some banks and saying that it would use various tools like short-term liquidity operations to help stabilize rates.

PBOC, however, promised more liquidity but not enough to support equity markets or enough to push rates under 4%.

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