The central bank decided to cut the reserve requirement ratio for financial institutions on September 16, 2019
發(fā)布時(shí)間:[2019-9-7 11:7:42] 瀏覽量:2422次
In order to support the real economic development and reduce the actual cost of social financing, the People's Bank of China decided to completely reduce the deposit reserve ratio of financial institutions by 0.5 percentage points(excluding financial companies, financial leasing companies and auto financing companies) on September 16, 2019.
In addition to this, in order to promote greater support for micro-enterprises and private enterprises, an additional 1 percentage point reduction in the reserve ratio of urban commercial banks operating only in provincial administrative areas will be implemented on October 15 and November 15. Two times, 0.5 percentage points each time.
The People's Bank of China will continue to implement a prudent monetary policy, refrain from flooding and irrigation, pay attention to targeted regulation, take into account domestic and foreign balance, step up countercyclical adjustment, maintain reasonable and abundant liquidity, and maintain the growth rate of the broad currency M2 and social financing and the nominal GDP. We will create a suitable monetary and financial environment for high-quality development and supply-side structural reforms. (concluded)
Relevant person in charge of the People's Bank of China said: Reduction of the right to support the real economic development
1, the reduction in the number of funds released?
A: The long-term funds for the reduction and release are about 900 billion yuan, including about 800 billion yuan for the overall reduction and 100 billion yuan for the targeted reduction and release. Financial companies, financial leasing companies and auto financing companies have a statutory reserve ratio of 6 %, which is the lowest among financial institutions and is already at a low level. Therefore, this overall reduction does not include these three types of financial institutions.
2) Does the reduction mean a change in the direction of prudent monetary policy?
A: The reduction will be a hedge against the mid-September tax period. The total liquidity of the banking system will remain basically stable, and the targeted reduction will be implemented twice, which will also facilitate the steady and orderly release of funds. Therefore, this fall is not flooding, and the direction of prudent monetary policy has not changed.
3, how to support the real economy?
A: The reduction will release about 900 billion yuan of funds, effectively increasing the sources of funds for financial institutions to support the real economy. It will also reduce the cost of bank funds by about 15 billion yuan a year. Directional reduction is an important measure to improve the policy framework of "three steps and two advantages" for small and medium-sized banks with a lower deposit reserve ratio, and is conducive to promoting the support of urban commercial banks that serve the grassroots to small and medium-sized enterprises. All these are conducive to supporting the real economic development. (finished)
