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China’s Central Bank Said to Roll Over Lending Facility

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The People’s Bank of China rolled over at least a portion of a three-month lending facility from September that was set to expire, a government official familiar with the matter said yesterday.

The earlier facility, reported Sept. 17 and later confirmed by the central bank, was for 500 billion yuan ($81 billion) over three months with an interest rate of 3.5 percent. The official, who couldn’t specify the terms of the rollover, asked not to be identified because the details haven’t been made public.