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People's Bank of China Loan Prime Rate

People's Bank of China Loan Prime Rate

Actual: 3.85%
Forecast: 3.85%
Previous: 3.85%
Importance:
Release Date: Sep 21, 2020
Currency: CNY
Country: China
Source Of Report: The People Banks of China

The People’s Bank of China announced that beginning August 20, 2019, the loan prime rate (LPR) will be calculated under a new formation mechanism. Based on the citations made by quoting banks--by adding a few basis points to the interest rate of open market operations (mainly referring to the rate of the medium-term lending facility, or MLF)--the LPR is now calculated by the National Interbank Funding Center (NIFC), serving as the pricing reference for bank lending. Currently, the LPR consists of rates with two maturities, i.e. one year and over five years. At present, the LPR quoting facilities are comprised of 18 banks. The quoting banks will submit their quotes before 9:00 a.m. on the 20th day of every month (postponed in case of holidays), with 0.05 percentage points as the step length, to the NIFC.

Release Date Actual Forecast Previous
Oct 20, 2020 3.85%
Sep 21, 2020 3.85% 3.85% 3.85%
Aug 20, 2020 3.85% 3.85%
Jul 20, 2020 3.85% 3.85% 3.85%
Jun 22, 2020 3.85% 3.85%
May 20, 2020 3.85% 3.85%

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