SHANGHAI, Feb 9 (Reuters) - New local-currency loans extended by Chinese banks may fall below 1 trillion yuan ($146 billion) in February partly because of fewer working days due to the Chinese Lunar New Year holidays, the official Shanghai Securities News said on Tuesday.
The newspaper said Chinese banks were estimated to have extended more than 1.3 trillion yuan of new yuan loans in January. Previous local media reports put figures for January new loans between 1.1 trillion yuan and 1.6 trillion yuan.
'February's new loans will surely be less than those in January, and could probably fall below 1 trillion yuan,' the newspaper said.
'However, expectations of gradual monetary policy tightening this year will push banks to continue rushing into lending as early as possible in the year.'
China launched a campaign to clamp down on excessive liquidity in January after banks unexpectedly lent more than 1 trillion yuan in the first two weeks in the month.
Among a slew of steps, the People's Bank of China raised the ratios of reserves banks must keep with it, and the China Banking Regulatory Commission ordered banks to check whether their loans had been illegally channelled into the stock or property markets.
Regulators have become more lenient in the clampdown since the start of February, partly because increased fund demand ahead of the week-long Lunar New Year holidays next week -- traditionally a period of heavy spending by Chinese.
($1=6.83 yuan)
(Reporting by Lu Jianxin and Melanie Lee; Editing by Ken Wills)
((jianxin.lu@thomsonreuters.com; +86 21 6104 1792; Reuters Messaging: jianxin.lu.reuters.com@reuters.net)) Keywords: CHINA LOANS
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