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China's central bank to provide short-term cash to some banks: sources
[SHANGHAI] China's central bank has issued short-term funds to some local banks to ease liquidity strains and has also renewed some banks' medium-term lending facilities that have expired, two sources with direct knowledge of the operations said on Wednesday.
Sources said the cash was disbursed via short-term liquidity operations, or SLOs, which are usually transacted behind closed doors with individual banks that are short on funds.
The People's Bank of China was not immediately available for comment.