SteelOrbis Shanghai
On June 7, the People's Bank of China announced an increase of one percentage point in the RMB deposit reserve ratio of financial institutions for the purpose of strengthening liquidity management in China's banking system.
The full percentage point increase, which will raise the deposit reserve ratio to 17.5 percent, will be implemented in two steps, going up by half a percentage point on June 15 and by another half on June 25. Financial institutions in areas devastated by the May 12 earthquake will be temporarily exempted from the reserve ratio increase