* March new loans 1.37 trln yuan, vs f'cast 1.05 trln yuan
* March M2 money supply +13.4 pct y/y, vs f'cast +13.5 pct
* March total social financing 2.34 trln yuan, vs 780.2 bln yuan in Feb
BEIJING, April 15 (Reuters) - Chinese banks made 1.37 trillion yuan ($211.23 billion) in new local-currency loans in March, beating analyst expectations, as the central bank seeks to keep policy accommodative to underpin the slowing economy.
The People's Bank of China (PBOC) has been trying to channel more credit into the real economy while refraining from excessive policy loosening, which could put pressure on the yuan and fan asset bubbles.
Economists polled by Reuters had expected new loans to rise to 1.05 trillion yuan in March, up from February's 726.6 billion yuan but off a record of 2.51 trillion yuan extended in January.
The central bank said the broad M2 money supply measure (M2) grew 13.4 percent in March from a year earlier, missing forecasts of 13.5 percent but quickening from February's 13.3 percent.
Total social financing, another important indicator of China's credit expansion, rose to 2.34 trillion yuan ($360.78 billion) in March from 780.2 billion yuan in February.
The PBOC is aiming for annual M2 growth of around 13 percent this year and growth in total social financing of around 13 percent.
Outstanding yuan loans grew 14.7 percent by month-end on an annual basis, versus expectations of 14.5 percent.
Chinese banks' outstanding foreign-currency deposits rose to $666.0 billion at the end of March from $655.2 billion at the end of February, central bank data showed.
The central bank has cut interest rates six times since November 2014, and reduced bank reserve ratio requirements (RRR) - the proportion of deposits that banks must park at the central bank as reserves - several times.
Analysts expect the PBOC to loosen policy further to help achieve the government's economic growth target of 6.5 percent to 7 percent this year.
The government looks to be relying more on increased fiscal spending and tax cuts this year to support growth and cushion the pain from structural reforms.
The economy grew 6.9 percent in 2015, its weakest pace in a quarter of a century, and some market watchers believe real growth levels may already be much weaker. In the first quarter of 2016, the economy grew 6.7 percent year-on-year - the slowest pace since the global financial crisis.
($1 = 6.4859 Chinese yuan renminbi) (Reporting by Kevin Yao and Nathaniel Taplin; Editing by Sam Holmes & Shri Navaratnam)