“The People’s Bank of China announced that it had injected cash into the short-term credit markets. While the PBOC does that regularly—twice a week via its regular, publicly announced open market operations—the cash injection that it announced today was a different kind of mechanism known as a short-term liquidity operation or SLO. It directs the central bank’s money to 12 large Chinese banks seen as crucial to the stability of the system.  That the central bank has been so quick to try to ease stress in short-term markets indicates that policy makers are leery of repeating last-summer’s severe credit crunch.”

http://qz.com/160091/china-puts-out-yet-another-credit-market-fire-with-more-liquidity/

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