The People’s Bank of China (central bank) injected money into the money market last May to meet the demand for liquidity from financial institutions.

The bank said it injected a total of 125 billion yuan (about $17.61 billion) into the market last month through a medium-term lending facility to maintain liquidity in the banking system at a reasonably sufficient level.

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The money must be repaid within one year at an interest rate of 2.75%.

By the end of May, the total outstanding loans of the Multilateral Fund exceeded 5.15 trillion yuan.

The MLF was introduced in 2014 to help commercial and political banks maintain liquidity by allowing them to borrow from the central bank using securities as collateral.

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