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PBOC raised brokerages’ outstanding commercial bill limit to ease liquidity crunch

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Chinese central bank has raised some leading securities brokerages’ upper limit for outstanding commercial bill issuance - a key form of short-term fundraising in the interbank market, the latest move to calm the market and ease funding stress triggered by the regulator's takeover of a regional bank.

Citic Securities said on Friday its upper limit for outstanding commercial bill issues had been raised to 46.9 billion yuan, from a much lower 15.9 billion yuan previously, a statement . . .

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