PBC Decides to Cut Reserve Requirement
Ratio and Benchmark Deposit and Lending Rates
The PBC has decided to cut the RMB reserve requirement ratio for
depository financial institutions by 0.5 percentage points as of October 15, 2008. It has also decided to cut the one-year RMB benchmark deposit and
lending rates both by 0.27 percentage points as of October 9, 2008. Benchmark deposit and lending rates for other maturities are to be
adjusted accordingly.
|
Adjustment of
RMB Benchmark Deposit and
Lending Rates
Unit: %
|
|
Item
|
Rate(before adjustment)
|
Rate(after adjustment)
|
Adjustment
|
|
1.Household and corporate deposits
|
|
|
|
|
1.1 Demand deposits
|
0.72
|
0.72
|
0.00
|
|
1.2 Time
deposits of lump-sum deposit and withdrawal
|
|
|
|
|
3-month
|
3.33
|
3.15
|
-0.18
|
|
6-month
|
3.78
|
3.51
|
-0.27
|
|
1-year
|
4.14
|
3.87
|
-0.27
|
|
2- year
|
4.68
|
4.41
|
-0.27
|
|
3-year
|
5.40
|
5.13
|
-0.27
|
|
5- year
|
5.85
|
5.58
|
-0.27
|
|
2.Loans
|
|
|
|
|
6-month
|
6.21
|
6.12
|
-0.09
|
|
1-year
|
7.20
|
6.93
|
-0.27
|
|
1 to 3-year
|
7.29
|
7.02
|
-0.27
|
|
3 to 5-year
|
7.56
|
7.29
|
-0.27
|
|
Over 5-year
|
7.74
|
7.47
|
-0.27
|
|
3. Individual housing provident fund loans
|
|
|
|
|
Below 5-year
(inclusive)
|
4.59
|
4.32
|
-0.27
|
|
Above 5-year
|
5.13
|
4.86
|
-0.27
|
