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Gold/Mining/Energy : Gold Price Monitor

GDXJ 94.04

+0.6%

Nov 21 4:00 PM EST

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To: Abner Hosmer who wrote (8117)	3/7/1998 3:14:00 AM
From: Abner Hosmer	Read Replies (1) of 116764

China to cut reserve ratio considerably - c.banker biz.yahoo.com >>BEIJING, March 7 (Reuters) - China will lower its bank reserve requirement ratio by a ''fairly considerable margin,'' central bank governor Dai Xianglong said on Saturday... Dai said by lowering the reserve ratio, commercial banks could purchase special bonds, repay loans to the central bank and increase their own lending, which would help promote economic growth. Banks are required to place 13 percent of their total deposits with the central bank as reserves. Another five to seven percent are held as provisional funds. The China Business Times newspaper said on Friday China was likely to reduce the combined ratio of 18 to 20 percent to below 13 percent. China's planned special bond issue was designed to recapitalise state banks and pave the way for a long-delayed cut in the reserve ratio, according to official media and analysts.<< China special bonds to mature in 30 years biz.yahoo.com BEIJING, March 7 (Reuters) - China's planned special bond issue to recapitalise state banks will mature in 30 years, central bank governor Dai Xianglong said on Saturday.<<

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