(Bloomberg) -- China's policy makers are taking various steps to protect the financial system and capital markets from the fallout from the coronavirus outbreak.
Here's a list of measures announced by the central bank and finance regulators over the weekend. The nation's stocks, bonds, foreign exchange, futures and interbank markets all resume trading on Monday.
| People's Bank of China |
|---|
- Supply 1.2 trillion yuan ($174 billion) to money markets on Monday, meaning a net 150 billion yuan injection
- Provide banks 300 billion yuan in money for relending
- Use open market operations and other tools to ensure sufficient liquidity, keep money market rates stable
- Temporarily remove the cap on forex debt for some firms
- Be less strict in checking banks' required reserves at the end of January
|
| China Banking and Insurance Regulatory Commission |
|---|
- Lower lending rates and fees for companies and regions most affected by the outbreak
- Suitably extend the grace period for firms that have difficulty meeting the end-2020 deadline to comply with new asset management rules
- Allow some insurers to raise their investment in equities from the current limit of 30% of assets
- Maintain the pace of overall credit expansion and continue to lower borrowing costs across China, especially to manufacturers, and to small and private firms
- Encourage banks not to call in loans to firms affected by the virus, especially smaller ones; consider rolling over loans
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| China Securities Regulatory Commission |
|---|
- Temporarily halt night sessions for futures trading from Feb. 3
- Allow some share pledge contracts to be extended by as much as six months
- Allow listed companies to apply to delay reporting financial results for 2019 and first quarter of 2020
- Streamline corporate bond sales, including by allowing financial institutions to submit materials online
- Raise financing quota for some brokerages and encourage them to boost capital
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To contact Bloomberg News staff for this story: Lucille Liu in Beijing at xliu621@bloomberg.net;Jun Luo in Shanghai at jluo6@bloomberg.net
To contact the editors responsible for this story: Candice Zachariahs at czachariahs2@bloomberg.net, James Mayger
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