PBOC to inject 800 billion yuan via 1-year MLF operation on September 24
The People's Bank of China (PBOC) announced on September 23 that it will conduct an 800 billion yuan Medium-term Lending Facility (MLF) operation on September 24, 2026, with a one-year term. The operation aims to maintain ample liquidity in the banking system using a fixed-quantity, interest rate bidding, and multiple-price auction method. One source notes that 600 billion yuan in MLF loans mature this month, resulting in a net injection of 200 billion yuan.
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China's central bank to inject 800 billion yuan via MLF, adding 200 billion net liquidity
The People's Bank of China (PBOC) announced on September 23 that it will conduct an 800 billion yuan Medium-term Lending Facility (MLF) operation on September 24, 2026, with a one-year term, using a fixed quantity, interest rate bidding, and multiple-price auction method. With 600 billion yuan in MLF maturing in September, this represents a net injection of 200 billion yuan, reversing the previous month's net reduction of 100 billion yuan. Combined with equal rollover of two-term buy-reverse repos, the PBOC's medium-term liquidity operations will see a net injection of 200 billion yuan for the third consecutive month, 100 billion yuan more than last month. Wang Qing, chief macro analyst at东方金诚 (Golden Credit Rating), attributed the move to two factors: first, rising government bond issuance requires central bank support for smooth debt sales, reflecting monetary-fiscal policy coordination; second, short-term money market rates (DR001) are already near the policy rate, and the MLF injection helps maintain ample liquidity and stabilize expectations. Wang added that further policy easing, including potential reserve requirement ratio (RRR) cuts, is possible, with MLF and buy-reverse repo operations likely to continue expanding to support government bond issuance and bank credit expansion.
Read sourceChina's Central Bank Announces Overnight Reverse Repo and MLF Operations for Holiday Period
On September 23, the People's Bank of China (PBOC) announced two upcoming liquidity operations. From September 28 to October 8, it will conduct overnight reverse repo operations with a fixed interest rate and quantity bidding, with a daily cap of 1 trillion yuan, up from the previous 600 billion yuan cap. This is designed to manage short-term liquidity needs during the National Day holiday period. Ming Ming, chief economist at CITIC Securities, noted this marks a shift from the traditional 14-day reverse repo to overnight repos for holiday coverage, enabling more refined liquidity management and reducing the impact of maturing long-term repos. Separately, the PBOC announced it will conduct an 800 billion yuan 1-year Medium-term Lending Facility (MLF) operation on September 24 via fixed quantity, interest rate bidding, and multiple-price auction. This will result in a net 200 billion yuan oversubscription after the 600 billion yuan MLF maturing on September 28. Analysts from Dongfang Jincheng and others attribute the oversubscription to the need to support pro-growth policies, including accelerated government bond issuance and the deployment of 800 billion yuan in new policy financial instruments.
Read sourceChina's Central Bank to Conduct 800 Billion Yuan MLF Operation on September 24
On September 23, the People's Bank of China (PBOC) announced that it will conduct an 800 billion yuan Medium-term Lending Facility (MLF) operation on September 24, 2026, to maintain ample liquidity in the banking system. The operation will be conducted using a fixed quantity, interest rate bidding, and multiple-price winning method, with a one-year term. This announcement, reported by National Business Daily, signals the central bank's ongoing efforts to manage liquidity and support the financial system. The operation is a standard monetary policy tool used by the PBOC to inject medium-term funds into the banking sector, influencing lending rates and economic activity.
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China's Central Bank to Inject 800 Billion Yuan via 1-Year MLF Operation on Sept 24, 2026
The People's Bank of China (PBOC) announced that on September 24, 2026, it will conduct an 800 billion yuan Medium-term Lending Facility (MLF) operation with a one-year term. The operation will use a fixed quantity, interest rate bidding, and multiple-price award method. The stated purpose is to maintain ample liquidity in the banking system. This announcement, published by tradealpha, outlines a specific future monetary policy action by China's central bank to manage liquidity.
Read sourceChina's Central Bank to Conduct 800 Billion Yuan MLF Operation on September 24
On September 23, the People's Bank of China (PBOC) announced that it will conduct an 800 billion yuan Medium-term Lending Facility (MLF) operation on September 24, 2026. The operation aims to maintain ample liquidity in the banking system. It will be conducted using a fixed-quantity, interest-rate bidding, and multiple-price award method, with a one-year term. This announcement provides forward guidance on the central bank's liquidity management operations.
Read sourceChina's central bank to conduct 800 billion yuan MLF operation on September 24
The People's Bank of China (PBOC) announced on September 24 that it will conduct an 800 billion yuan (approximately $110 billion) medium-term lending facility (MLF) operation with a one-year maturity. This operation comes as 600 billion yuan in MLF loans are set to mature this month, resulting in a net injection of 200 billion yuan into the banking system. The move is part of the PBOC's routine liquidity management to support the economy and maintain stable funding conditions for financial institutions. The operation aims to provide long-term funding to commercial banks, encouraging lending to businesses and supporting economic growth amid ongoing challenges in the property sector and broader economic slowdown. The announcement was reported by Reuters via tradealpha, a financial news aggregator.
Read sourceChina's Central Bank to Conduct 800 Billion Yuan MLF Operation on September 24
The People's Bank of China (PBOC) announced on September 24 that it will conduct an 800 billion yuan Medium-term Lending Facility (MLF) operation with a one-year term. The operation will use a fixed-quantity, interest-rate bidding, and multiple-price award method. This is a routine monetary policy tool used by the central bank to manage liquidity in the banking system and influence medium-term interest rates. The announcement was reported by CLS, a Chinese financial news service.
China's Central Bank to Inject 800 Billion Yuan via 1-Year MLF on Sept 24, 2026
The People's Bank of China (PBOC) announced that on September 24, 2026, it will conduct an 800 billion yuan Medium-term Lending Facility (MLF) operation with a one-year term. The operation aims to maintain ample liquidity in the banking system. The PBOC will use a fixed-quantity, interest rate bidding, and multiple-price award method for this operation. This move is part of the central bank's routine monetary policy tools to manage liquidity and support economic stability.
China's Central Bank to Conduct 800 Billion Yuan MLF Operation on September 24
The People's Bank of China (PBOC) announced on September 23 that it will conduct an 800 billion yuan Medium-term Lending Facility (MLF) operation on September 24, 2026. The operation aims to maintain ample liquidity in the banking system. It will be conducted using a fixed quantity, interest rate bidding, and multiple-price winning method, with a one-year term. This announcement was reported by stockstar_securities_news, citing a PBOC statement.
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