PBOC: RMB Loan Balance Hits 283.44 Trillion Yuan at End-Q3 2026, Up 4.8%

The headline is the growth rate rather than the stock: 4.8% year-on-year loan expansion is a broad credit signal that sits behind every domestic liquidity story, including how much capital stays available for risk assets versus bank-intermediated lending. The first-three-quarters increase of 11.52 trillion yuan shows credit is still being extended, but the aggregate figure says nothing about where it is going. The open question is whether the pace of loan growth continues at this level into year-end, and how that trajectory shapes the broader liquidity backdrop that crypto and RWA markets read as a proxy for risk appetite.