The People’s Bank of China will offer short-term liquidity to small and medium financial institutions in 10 branches starting Monday, pbc.gov.cn reported Monday. City commercial banks, rural banks, rural cooperative banks and credit cooperatives will benefit from the trial scheme. The duration of the liquidity support is up to 14 days. Banks are required to present treasury bills, central bank bills and investment grade corporate bonds as collateral, the report said. The 10 PBoC branches in the scheme are in Beijing, Jiangsu, Shandong, Guangdong, Hebei, Shanxi, Zhejiang, Jilin, Henan and Shenzhen.
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