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The benchmark interest rate

The benchmark interest rate is a commonly used reference rate in financial markets. Other interest rates or financial asset prices can be determined based on this benchmark interest rate. The benchmark interest rate is one of the important preconditions for the marketization of interest rates. Under the market-oriented interest rates, the objective of financing needs of investors to measure financing costs, investors' return on investment, and management's macroeconomic requirements objectively requires a generally accepted benchmark Interest rates for reference. Therefore, in a sense, the benchmark interest rate is the core of the interest rate liberalization mechanism.

Among them, the countries with the inter-bank lending rate as the benchmark interest rate are the United Kingdom, the London Libor, the United States, the United States federal benchmark interest rate (FFR), Japan's Tokyo inter-bank lending rate (Tibor), the EU's euro bank interbank offered rate (Euribor), etc .; the countries that take the repo rate as the benchmark interest rates are Germany (1W and 2W repo rates), France (1W repo rates), and Spain (10D repo rates).

In China, the interest rate of deposits and loans stipulated by the People's Bank of China on national specialized banks and other financial institutions is used as the benchmark interest rate. Specifically, the average ordinary person uses the one-year bank deposit interest rate as the market benchmark interest rate, and the bank uses the overnight bond lending rate as the market benchmark rate.

The benchmark interest rate 2017

2017 Central Bank Benchmark interest rate

2017 is the latestBank interest rates, The latest bank deposit and lending rate adjustment list, Bank of Hong Kong was informed that: the People's Bank of China decided that since October 24, 2015, cut the RMB lending institutions and deposit benchmark interest rates of financial institutions to further reduce the cost of corporate finance.

The benchmark one-year lending rates for financial institutions were cut 0.25 percentage points to 4.35%. The benchmark one-year deposit interest rate was cut 0.25% to 1.5%.

The People's Bank of China has decided that since October 24, 2015, the benchmark lending rates for RMB loans and deposits of financial institutions will be lowered to further reduce the social financing costs. Among them, the benchmark one-year lending rate of financial institutions was cut 0.25 percentage points to 4.35%; the one-year benchmark deposit rate of interest was down 0.25 percentage point to 1.5%; other benchmark lending and deposit rates, PBOC lending rates to financial institutions were adjusted accordingly Individual housingProvident Fund loan interest ratesconstant. At the same time, commercial banks and rural cooperative financial institutions will no longer set a floating cap on deposit interest rates, pay close attention to improving the market-based formation and control of interest rates, strengthen the central bank's regulation and supervision over the interest rate system, and improve the efficiency of monetary policy transmission.

Starting from the same date, the deposit reserve ratio of financial institutions should be lowered by 0.5% to keep the liquidity of the banking system reasonably abundant, and to guide the steady and modest growth of money and credit. At the same time, in order to increase the financial support for the "three rural issues" and the positive incentives for small and micro enterprises, an additional reduction of the deposit reserve ratio by 0.5 percentage point will be made for financial institutions that meet the criteria.

Other benchmark loans and deposit benchmark interest rates adjusted accordingly. (This interest rate is the latest bank interest rate in 2017 and the benchmark interest rate of bank deposit loans)

What does the benchmark interest rate mean?

The benchmark interest rate is a commonly used reference rate in financial markets. Other interest rates or financial asset prices can be determined based on this benchmark interest rate. The benchmark interest rate is one of the important preconditions for the marketization of interest rates. Under the market-oriented interest rates, the objective of financing needs of investors to measure financing costs, investors' return on investment, and management's macroeconomic requirements objectively requires a generally accepted benchmark Interest rates for reference. Therefore, in a sense, the benchmark interest rate is the core of the interest rate liberalization mechanism.

The benchmark interest rate adjustment list

Loan benchmark interest rate

The benchmark interest rate for deposits and loans is the loan guidance rate issued by the Central Bank (People's Bank of China) to commercial banks and one of the monetary policies used by the central bank to regulate the operation of the social economy and financial system.

Commercial banks will be based on this benchmark interest rates to develop a combination of deposit rates. Raising the benchmark interest rate means reducing credit, reducing social mobility, raising credit costs and easing the pace of economic growth. vice versa.

Benchmark interest rate for corporate loans

People 's Bank of China benchmark lending rate of corporate loans

Different lending rates are implemented by different banks, usually, bank lending rates are based on the central bank benchmark interest rates have risen, and the magnitude of each bank is different, depending on the circumstances need to borrow based on the query The People's Bank of China shall prevail.

The People's Bank of China has decided that since October 24, 2015, the benchmark lending rates for RMB loans and deposits of financial institutions will be lowered to further reduce the financing costs for enterprises. At present, the benchmark deposit and lending rate implemented by the People's Bank of China is based on the interest rate announced on October 24, 2015: the benchmark one-year lending rate of financial institutions is down 0.25 percentage points to 4.35%; the one-year benchmark deposit interest rate is down 0.25 percentage points to 1.5%.

With the adjustment of the central bank loan interest rates, the lending rates of the major banks also follow changes. As an enterprise, the interest rate of a bank enterprise directly affects the cost of the enterprise. An enterprise loan is a type of loan borrowed from banks or other financial institutions in accordance with the prescribed interest rates and deadlines for the purpose of production and operation.