The meaning of deposit benchmark interest rate:

The benchmark deposit interest rate is the guiding deposit interest rate of commercial banks published by the People's Bank of China. The benchmark interest rate must be determined by the relationship between market supply and demand, which not only reflects the actual market supply and demand situation, but also reflects the market's expectation for the future.

In China, the benchmark interest rate is the deposit and loan interest rate stipulated by the People's Bank of China for national specialized banks and other financial institutions. Specifically, the common people regard the one-year fixed deposit interest rate of the bank as the market benchmark interest rate index, and the bank regards the overnight lending rate as the market benchmark interest rate.

What is the benchmark interest rate for deposits?

The People's Bank of China decided to lower the benchmark interest rates of RMB loans and deposits of financial institutions from 20 15124/0 to further reduce the financing costs of enterprises.

Among them, the benchmark interest rate for one-year loans of financial institutions was lowered by 0.25 percentage points to 4.35%; The benchmark interest rate for one-year deposits was lowered by 0.25 percentage point to 1.5%. The People's Bank of China decided to lower the benchmark interest rates of RMB loans and deposits of financial institutions from 20 15124, to further reduce the social financing costs. Among them, the benchmark interest rate for one-year loans of financial institutions was lowered by 0.25 percentage points to 4.35%; The benchmark interest rate for one-year deposits was lowered by 0.25 percentage point to1.5%; The benchmark interest rates of other loans and deposits and the lending rates of the People's Bank of China to financial institutions are adjusted accordingly; The interest rate of individual housing provident fund loans remains unchanged. At the same time, commercial banks and rural cooperative financial institutions are no longer allowed to set a floating ceiling on deposit interest rates, improve the formation and regulation mechanism of interest rate marketization, strengthen the regulation and supervision of the interest rate system by the central bank, and improve the transmission efficiency of monetary policy.

Starting from that day, the RMB deposit reserve ratio of financial institutions will be lowered by 0.5 percentage point, so as to keep liquidity in the banking system reasonably abundant and guide the steady and moderate growth of money and credit. At the same time, in order to increase the positive incentives for financial support for "agriculture, rural areas and farmers" and small and micro enterprises, the deposit reserve ratio will be reduced by 0.5 percentage points for eligible financial institutions.

20 18 latest benchmark interest rate for bank deposits and loans.

Basic characteristics of benchmark interest rate for deposits and loans;

1, marketization

On June 7th, the People's Bank of China decided to lower the benchmark interest rate of RMB deposits and loans of financial institutions from June 8th, 20 12. The benchmark interest rate for one-year deposits of financial institutions was lowered by 0.25 percentage points, and the benchmark interest rate for one-year loans was lowered by 0.25 percentage points.

From the same day, the central bank adjusted the upper limit of the floating range of deposit interest rates of financial institutions to 1. 1 times of the benchmark interest rate; Adjust the lower limit of the dynamic range of the loan interest rate of financial institutions to 0.8 times of the benchmark interest rate.

2. Foundation

The benchmark interest rate plays a fundamental role in the interest rate system and the price system of financial products, and has a strong correlation with the interest rates of other financial markets or the prices of financial assets.

3. Transferability

The market signal reflected by the benchmark interest rate, or the regulatory signal sent by the central bank through the benchmark interest rate, can be effectively transmitted to other financial markets and financial product prices.

In western countries, the benchmark interest rate is traditionally the rediscount interest rate of the central bank, but not necessarily. The benchmark interest rate in Britain is the London Interbank Offered Rate. The famous benchmark interest rates are London Interbank Offered Rate (LIBOR) and the US federal benchmark interest rate.

Benchmark deposit and loan interest rate

In 2020, the state stipulated that the benchmark interest rate of ordinary commercial loans should be 4.35% within one year (including one year), 4.75% from one year to five years (including five years) and 4.9% for more than five years.

The loan interest rate refers to the ratio of interest amount to principal amount during the loan period. China's interest rate is managed by the People's Bank of China, and the determined interest rate is implemented after being approved by the State Council.

The loan interest rate directly determines the profit distribution ratio between the borrowing enterprise and the bank, thus affecting the economic interests of both borrowers and lenders. The loan interest rate varies with the types and duration of loans, and it is also related to the scarcity of borrowed funds.

The loan interest rate is the main basis for prudent parties to calculate the loan interest in the loan contract, and the loan interest rate suggestion clause is the main clause in the loan contract. The interest rate of loan contracts with banks and other financial institutions as lenders can only be determined through consultation within the upper and lower interest rate limits stipulated by the People's Bank of China.

What does the benchmark loan interest rate mean?

The benchmark interest rate is a universal reference interest rate in the financial market, and other interest rate levels or financial asset prices can be determined according to this benchmark interest rate level. Under the condition of interest rate marketization, financiers measure financing costs and investors calculate investment returns. The macro-control of management objectively needs a recognized benchmark interest rate level as a reference.

Among them, the countries that take the interbank offered rate as the benchmark interest rate include London Interbank Offered Rate, American Federal Benchmark Rate, Tokyo Interbank Offered Rate and Euro Interbank Offered Rate. The countries with the repo rate as the benchmark interest rate are Germany (1W and 2W repo rates), France (1W repo rate) and Spain (10D repo rate).

Extended data

The benchmark interest rate must have the following basic characteristics:

(1) marketization. Obviously, the benchmark interest rate must be determined by the relationship between market supply and demand, which not only reflects the actual market supply and demand, but also reflects the market's expectations for the future.

(2) foundation. The benchmark interest rate plays a fundamental role in the interest rate system and the price system of financial products, and has a strong correlation with the interest rates of other financial markets or the prices of financial assets.

(3) transitivity. The market signal reflected by the benchmark interest rate, or the regulatory signal sent by the central bank through the benchmark interest rate, can be effectively transmitted to other financial markets and financial product prices.