The best lending rate (LPR) is the basic lending reference rate provided by representative quotation banks to the best quality customers according to our lending rate and open market operating rate (mainly referring to the medium-term loan convenience rate). The National Interbank Funding Center authorized by the People's Bank of China will calculate and publish it. All financial institutions should mainly refer to the loan pricing of LPR. At present, LPR includes 1 tree age and five-year-old tree [1]. LPR is highly market-oriented and can fully reflect the supply and demand of funds in the credit market. Using LPR for loan pricing can promote the marketization of loan interest rate and improve the transmission efficiency from market interest rate to credit interest rate.
1. The People's Bank of China announced the establishment of a centralized quotation release mechanism for LPR from 20 131October 25th. On August 7, 20 19, the People's Bank of China issued the Notice on Reforming and Perfecting the Formation Mechanism of Quotation Interest Rate in the Loan Market, which reformed LPR from six aspects: quotation principle, formation method, term variety, quotation bank, quotation frequency and application requirements. At the same time, the Chinese name of the loan preferential interest rate is changed to the loan market quotation, and the English name LPR remains unchanged.
2.2065438+On August 25th, 2009, the People's Bank of China issued an announcement, requiring that the new commercial personal housing loan interest rate be based on the quoted interest rate of the loan market in the latest month as the pricing benchmark from August 8th, 2009. The value-added amount shall meet the requirements of national and local housing credit policies, reflect the loan risk, and remain unchanged during the contract period.
3.LPR quotation banks should meet the requirements of macro-prudential policy framework, establish internal rate of return curve and internal transfer pricing mechanism, have strong independent pricing ability, and formulate preferential quotation conditions such as management measures for quotation interest rate in bank loan market. Self-discipline mechanism of market interest rate pricing, evaluation of quotation quality, regular adjustment of quotation member banks, operation supervision and management, quotation rate in loan market, and code of conduct for quotation designated banks and issuers.