PBOC to raise reserve ratios for some banks
Move will apply to lenders who do not meet criteria; this may contain credit growth after January's jump in advances
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Beijing
CHINA'S central bank said some banks will be forced to lock away more reserves, a move that may contain credit growth after advances by smaller lenders jumped in January.
Some banks no longer meet criteria for preferential reserve requirement ratios and will have those levels increased, the People's Bank of China (PBOC) said on Friday in a statement. Prior to the announcement, Bloomberg News reported that some lenders will face a higher ratio as officials seek to limit the risks associated with last month's jump in credit. The PBOC said its action wasn't driven by the speed of lending.
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