【itin home loans in california】China cbank told banks to moderate pace of lending in January - sources
SHANGHAI/BEIJING,itin home loans in california Feb 1 (Reuters) - China's central bank told some commercial banks in January to moderate their pace of lending, four sources with direct knowledge of the matter said on Friday, as it seeks to manage the amount of credit flowing into the economy.
In its guidance, the People's Bank of China (PBOC) also told the lenders that the pace and size of loans granted should not fall below the level from the same period a year earlier.
Loan growth is usually strong in January as Chinese banks tend to front-load loans early in the year to win market share.
At the same time, the PBOC has been offering ample liquidity to the market and has been urging banks for months to keep lending to cash-strapped companies, particularly smaller, private firms.
Analysts say reviving weak credit growth will be key to steadying China's cooling economy, but policymakers are closely watching to ensure loans are used for real business activity, not speculation.
"The (loan) injection was too much, and (we) need to tap on the brakes," said one of the sources close to the central bank.
Excess loan growth is not compatible with effective credit demand in real economy, and excess expansion in granting loans could lead funds to flow into undesirable areas, said a second source.
"(We) got the notice by phone. Credit lending was indeed very strong, given there are certain regulatory requirements," said a third source at a major bank who received PBOC's window guidance.
The PBOC has yet to respond to Reuters query for comments.
A central bank official said earlier this month that China will maintain 'appropriate' growth in total social financing, adding that current liquidity level in China's banking system is reasonably ample.
In December, Chinese banks extended far more new loans than expected, bringing last year's tally to a record $2.4 trillion as Beijing.
However, weaker sales and profits are making some firms reluctant to borrow. OCBC estimates new corporate loans in the fourth quarter were half the levels seen in the first nine months of the year.
(Reporting by Li Zheng in SHANGHAI and Zhang Xiaochong and Ryan Woo in BEIJING, Writing by Winni Zhou; Editing by Kim Coghill)
View comments
(责任编辑:Entertainment)
- Pinduoduo’s AI strawberry competition offers glimpse of “one-click planting”
- A Note On Black Knight, Inc.’s (NYSE:BKI) ROE and Debt To Equity
- Spent Too Much During the Holidays? 5 Steps to Recover
- EXPLAINER-North Korea warns of new path, but options limited
- U.S. Supreme Court justices question human rights claims against Nestle and Cargill
- Sick of Roaming Fees? Now Your Carrier Is Hurting Too
- Paul Weiss, Partner Promotions and the Path to Diversity in Big Law
- Activision Blizzard plans to terminate CFO Neumann
- People in the News—Jan. 2, 2019—Arnold & Porter
- Aligos Therapeutics Appoints Lesley Ann Calhoun as Chief Financial Officer
- Arconic shares jump after report of buyout by Apollo Global
- BRIEF-Zhejiang Jiahua Energy Chemical Says Is Warned By Regulator For Violation Of Information Disclosure
- Morning News Call - U.S., February 1
-
Ramping up COVID-19 testing earlier would have helped the UK, top adviser says
LONDON, May 5 (Reuters) - If the United Kingdom had ramped up testing for COVID-19 earlier, it could ...[详细] -
Ban Hammer Remains: South Korea’s Financial Services Commission Refuses to Lift ICO Ban
The ban on initial coin offerings in South Korea will stay, the country’s financial regulator has sa ...[详细] -
Cathay Pacific mistakenly sells $16,000 flight for $675
A few very lucky people may have snagged the travel-deal of a lifetime this year: Cathay Pacific acc ...[详细] -
BRIEF-Tbea Says Unit Wins Land Auction For 346.4 Million Yuan
Feb 1 (Reuters) - Tbea Co Ltd:* SAYS UNIT WINS LAND AUCTION FOR 346.4 MILLION YUAN ($51.41 million) ...[详细] -
Big cash holdings in Europe signal unease over stock market outlook
By Danilo MasoniMILAN (Reuters) - Stocks may have started the new year on a better footing but equit ...[详细] -
Euro zone factories ended 2018 on a low note - PMI
By Jonathan CableLONDON (Reuters) - Euro zone manufacturing activity barely expanded at the end of 2 ...[详细] -
AmerisourceBergen (ABC) Q1 2019 Earnings Conference Call Transcript
Logo of jester cap with thought bubble with words 'Fool Transcripts' below itImage source: The Motle ...[详细] -
This 1 Trend Proves Americans Are Finally Using Credit Cards the Right Way
The development of this indicator is very, very encouraging.Person holding credit cardImage Credit: ...[详细] -
EPR Properties: 3Q Earnings Snapshot
KANSAS CITY, Mo. (AP) _ EPR Properties (EPR) on Wednesday reported a key measure of profitability in ...[详细] -
Copart (CPRT) Gains From Auction Locations Despite High Costs
On Dec 31, we issued an updated research report onCopart, Inc.CPRT.The Dallas, TX-based provider of ...[详细]
Business owners contend with threat, reality of coronavirus
Best Games of 2018: Cultural Impact and Industry Shakeups
- Guidewire (GWRE) Q3 Earnings & Revenues Top Estimates, Stock Up
- The Oscar for Best Picture Is More Likely to Go to Film You've Actually Seen This Year
- It's Official: Community Court Coming to Fort Lauderdale Next Week
- Geena Davis on gender equality in Hollywood: 'Nothing changed' after Thelma and Louise
- Blockchain Industries Appoints New Board Members
- Google Exec: The Phones We're Making At Motorola Aren't Going To 'Wow' You
- Factbox: One year after MiFID II, European stocks coverage falls