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The PBOC said in a statement that, starting Tuesday, 18 qualified commercial banks, including State-owned banks, city and rural commercial banks and foreign banks, will report their lending reference rate every month. Analysts expect the first loan prime rate will be much lower than the current 4.35 percent one-year benchmark lending rate, which has been unchanged since August 2015.

The New York Times on Monday quoted unnamed government officials as saying also expected to leave the Homeland Security department soon are L. Francis Cissna, the head of US Citizenship and Immigration Services, and John Mitnik, the agency's general counsel.

The Ministry of Housing and Urban-Rural Development has launched nationwide safety checks on construction projects and public facilities in urban areas in the wake of two accidents within a week.

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The MoU will enable China Development Bank, one of the country's largest financial institutions, to make available up to 10 billion yuan (.6 billion) in aggregate in the next five years to Standard Chartered.

The National Association of Financial Market Institutional Investors, an organization that helps the interbank bond market to regulate itself, said in a note earlier this month that there were no new defaults among non-financial enterprises in June, indicating that credit risk of debt financing instruments is "generally under control".

The NDRRMC said the affected population of 158,509 families or 728,003 persons are from 585 villages in the National Capital Region (NCR), and several provinces in the Philippine main Luzon Island, including Ilocos region, Pampanga, Bataan, Cordillera Administrative Region (CAR), Pangasinan, and some provinces in the central Philippines.

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The National Meteorological Centre issued a yellow alert－the third-highest level of China's four-tier color-coded weather warning system－on Sunday, predicting strong winds and rainstorms in Fujian, Guangdong, Zhejiang, Jiangxi and Hunan provinces as well as the Guangxi Zhuang autonomous region. It predicted as much as 60 millimeters of rain an hour in some places.

The National Meteorological Center said it expected 5 to 12 centimeters of snow in parts of Anhui, Jiangsu, Henan, Hubei, Shaanxi and Zhejiang provinces. Blizzards are expected to drop new snow of up to 20 centimeters in some areas, it said.

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The PBOC also decided to cut the interest rate of re-lending designated for agricultural entities and SMEs by 0.25 percentage point, down to 2.5 percent.

The New Zealand-based multinational dairy cooperative Fonterra Co-operative Group Ltd. [Photo/fonterra.com]