On the morning of August 6, the Supreme People's Court held a press conference and released the "Supreme People's Court's Opinion on TrialPrivate lendingProvisions on Certain Issues Concerning the Application of Law in Cases ". The Provisions were approved by the 1655th meeting of the Supreme People's Court Judgment Committee on June 23, 2015; the Provisions will go into effect on September 1, 2015.
The Rules state that the cap on the rate of private lending must be governed. The control of private lending rates should take into account the convenience of the government and regulatory agencies of the financial regulatory agencies as well as the real needs of both lenders and lenders as market players. China's formal financial marketsLending rates, Is in a period of change. It has gone through the process of changing the loan interest rate from the national unity to the floating interest rate based on the upper and lower limits of the national benchmark interest rate, and then lifting the floating ceiling of lending rates in 2004 and abolishing the floating lower limit in 2013. In China's judicial practice, the central bank announced the benchmark interest rate of loans as a referendum in the "bank lending rate." With the advancing marketization of interest rate in our country, it is imperative to reform judicial policies that use four times the benchmark lending rate as the ceiling for interest rate protection. How to adjust the ceiling of private lending rates, which model to adopt and how to determine the ceiling of fixed interest rates? The questions in this series of trials require urgent answer.
"Provisions" on private lending interest rates and interest mainly include:
1. The borrower and the borrower have not agreed on the interest, or the loan agreement between the natural persons is unclear on the interest, and the lender has no right to claim the borrower to pay the interest in the period;
2. Borrowers agreed interest rates did not exceedAnnual interest rate24%. The lender has the right to request the borrower to pay interest at the agreed interest rate. However, if the interest rate agreed upon by the borrower and the lender exceeds 36% of the annual interest rate, the interest exceeding 36% of the annual interest rate should be invalidated and the borrower has the right to request a loan The person has paid back the interest that has been paid in excess of 36% of the annual interest rate;
3. Where interest is deducted in advance from the principal, the people's court shall determine the principal amount in the amount actually lent;
4. Unless otherwise agreed by the borrower and borrower, the borrower may repay the loan in advance and calculate the interest according to the actual loan period. In addition, this part also provides for overdue interest rates, voluntary interest payments and compound interest.