According to the announcement, since March 1 2020, financial institutions have begun to replace the LPR (loan market quotation rate) of existing loan contracts, which should be completed in principle before August 3 1 2020. Among them, the conversion principle of stock loan LPR substitution is that the borrower can negotiate with the bank to determine the interest rate pricing method based on LPR by adding points, or convert it into a fixed interest rate.
In this regard, a person in charge of a commercial bank said in an interview that since the LPR reform, 90% of the bank's new loans have been priced with reference to LPR, and the time is ripe to promote the stock reform.
Liu Fanggen, general manager of the Assets and Liabilities Department of China Construction Bank, said that in order to promote the smooth conversion of the pricing benchmark of existing loans, CCB will do a good job in formulating the conversion plan, changing the contract terms, reforming the system, answering questions in the announcement and handling public opinions in accordance with the principle of "full consultation, protecting customers' rights and interests and simplicity" and make steady progress according to the timetable required by the announcement. At the same time, customers are also requested to fully understand the significance, conversion principles and their own rights and interests of the conversion of pricing benchmarks, and negotiate with banks in a timely manner to handle matters related to the conversion of existing loan pricing benchmarks according to the announcements of the People's Bank of China and the bank's notice. If in doubt, you can go to the business handling institution or call the national unified customer service telephone of the bank for consultation.
Peng, general manager of asset and liability management department of China Merchants Bank, said that China Merchants Bank will speed up all the work. According to the requirements of the People's Bank of China, we will further refine and clarify the implementation plan of China Merchants Bank, speed up the contract revision, evaluate the systematic impact of the batch switching of stock loan pricing benchmarks, formulate the transformation plan as soon as possible and step up implementation. According to the characteristics of different customers and channels, arrange in advance to ensure that interest rate adjustment information is conveyed to every customer in a timely, accurate and comprehensive manner.
Peng said that from March 1 day, China Merchants Bank will officially start the conversion of stock loan pricing benchmark as required, actively and steadily, reasonably and orderly, step by step, and do a good job in customer communication and explanation. At the same time, accelerate the market-oriented pricing method adapted to LPR, build a comprehensive loan pricing mechanism adapted to LPR reform, improve the ability to deal with interest rate risks, and flexibly use active management measures inside and outside the balance sheet to hedge interest rate risks on the premise of effectively balancing risks and benefits. Accelerate the adjustment of customer structure and optimize asset allocation portfolio management, and enhance their own competitive strength and ability to serve the real economy.
The person in charge of the Asset and Liability Management Department of Minsheng Bank said that next, Minsheng Bank will work out a work plan as soon as possible in strict accordance with the announcement requirements of the People's Bank of China, including system support and personnel training. , steadily and orderly promote the share conversion work, negotiate with customers to determine the specific terms of the share conversion according to the principle of marketization, and change the original contract terms in a simple and easy way as far as possible under the premise of consensus between the two parties, fully protect the rights and interests of financial consumers, and effectively promote the reduction of corporate financing costs.