“The People’s Bank of China added 50 billion yuan ($8.2 billion) to the financial system today after a cash squeeze drove money-market rates to record highs. The sum was supplied to a single lender through ‘targeted liquidity operations’ and more banks were in talks to obtain financing. A PBOC press official said he was unaware of the matter. Bank of China Ltd. announced on its microblog that it made all payments on time today and has never had a capital default. A spokesman for Industrial & Commercial Bank of China Ltd. declined to comment on whether the lender received any financing from the central bank.”
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