The central bank raised the level of reserves that banks are required to hold by one half of a percentage point. Chinese major banks will have to set aside 19% of their reserves and small and medium banks will have to keep 15.5% of their deposits as reserves, a record high for the country's deposit-taking institutions, the Chinese government said.
For comparison the reserve requirement in
Brazil is 15%
U.S. is 10%
India is 6%
Canada and Australia are 0% or N/A (As Jesse points out below, it's not REALLY zero. Not Applicable might be a better label.)