The central bank conducted a total of 10.01 billion yuan in standing lending facility operations with financial institutions in August.

On September 2, the People's Bank of China released the operating conditions of the standing lending facility and the medium-term lending facility for August 2024. In order to meet the temporary liquidity needs of financial institutions, in August 2024, the People's Bank of China conducted standing lending facility operations for financial institutions totaling 1.001 billion yuan, with an overnight period of 0.01 billion yuan and a 7-day period of 1 billion yuan. The end-of-period balance of the standing lending facility was 0 billion yuan. The standing lending facility interest rate acted as the upper limit of the interest rate corridor, helping to maintain the stable operation of the money market interest rate. The interest rates for the overnight, 7-day, and 1-month standing lending facilities were 2.55%, 2.70%, and 3.05% respectively. In August 2024, in order to maintain the reasonable and sufficient liquidity of the banking system and in conjunction with the liquidity needs of financial institutions, the People's Bank of China conducted medium-term lending facility operations for financial institutions totaling 300 billion yuan with a term of 1 year and an interest rate of 2.30%. The end-of-period balance of the medium-term lending facility was 716.90 billion yuan. This article is excerpted from the People's Bank of China, GMTEight Editor: Chen Wenfang.