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How does the central bank absorb deposits from other deposit companies?
Creditor's rights to other deposit-taking companies (including commercial banks, policy banks, credit cooperatives and other financial institutions that can absorb deposits). The main channels for the central bank to put money into this subject include reverse repurchase, refinancing, rediscount, medium-term lending facilities and supplementary mortgage loans. Before 20 14, the project scale was relatively stable, accounting for only about 4% of the total assets of the central bank. After 20 14, as the growth of foreign exchange holdings slowed down, the central bank strengthened its ability to provide the base currency on its own initiative, and successively introduced a variety of monetary policy tools to cooperate with it. After the "8 1 1 exchange rate reform" in 20 15, the central bank's OMO operations became more frequent. In addition, various innovative monetary policy tools such as MLF, TMLF and PSL were newly established, and the central bank's claims against other deposit companies increased significantly. As of May 2022, the balance sheet of the central bank's "creditor's rights to other deposit companies" reached 12 trillion yuan, accounting for about 3 1% of the total assets.