PBOC cut key macro prudential parameter to curb foreign borrowing amid yuan's sharp strengthening

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Chinese regulators cut a key macro prudential parameter on Friday, a move that many believe is aimed at reducing banks' cross-border financing and slowing foreign capital inflows amid sharp strengthening of the Chinese yuan.

China will cut its macro prudential parameter for financial institutions' cross border financing to 1 from the previous 1.25, according to a statement released by the People's Bank of China and the State Administration of Foreign Exchanges (SAFE).

"The adjustment is aimed at improving macro prudential management of the total cross-sector financing, guiding financial institutions to adjust . . .

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