China grants some banks higher quota for FX loans – sources | Reuters

Chinese regulators granted some banks a higher quota for foreign currency-denominated loans that they lend to domestic clients, three sources with direct knowledge of the matter told Reuters.

China’s central bank has raised some commercial banks’ cross-border financial leverage ratio to 2 from 0.8, according to a document seen by Reuters provided by sources.

In the same document, it also said the central bank has granted the qualified commercial banks an initial financing quota of 10 billion yuan ($1.57 billion).

($1 = 6.3768 Chinese yuan) Reporting by Cheng Leng, Winni Zhou and Tony Munroe; editing by John Stonestreet

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