降低中国人民银行对金融机构的准备金存款利率、再贷款利率(具体水平见附表3)，再贴现利率保持不变。

Lowering the deposit interest rates and re-lending rates (see Table 3) of People's Bank of China to the reserves of the financial institutions, while the current rediscount rates remain unchanged.

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所谓再存款是指以低的贷款利率将钱贷出，然后存入较高存款利率的账户从而获得利息差。

Re-depositing is the practice of obtaining loans at extremely low interest rates and depositing them in the issuing bank to earn a profit in higher-yielding bank accounts.

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冲击可能很小，但是前提是美联储可以在今后几年内维持较低的短期利率，或者借款者在利率调整到来之前能做再贷款。

The impact may be muted, but only if the Fed can keep short-term rates very low for the next couple of years—or if the borrowers can refinance as the reset approaches.

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