Reuters with the news 11 Sept

  • China's central bank says changes to FX forwards reserves rule made in consideration with current market conditions

Eamonn had the orginal reports/rumour here earlier

Reserve requirements had been 20% and these moves are designed to increase liquidity

  • rules requiring foreign banks to put aside reserves for offshore yuan depos in China have also been lifted, effective last Friday (9 Sept)

Reuters citing "sources with direct knowledge of the matter" but confirmed now by the PBOC in an emailed statement from the PBOC.

Normal RRR in China is 17% for large banks and 15.5% for small banks

The Chinese authorities imposed the rules on financial institutions in Jan 2016 to stem speculation against the yuan and help manage money flowing out of China.

PBOC lifts reserve restrictions to boost liquidity