Loan Prime Rate Remains Unchanged for Sixth Consecutive Month in October

234

Chi­na’s loan prime rate (LPR) for October has re­mained un­changed for the sixth consecutive month. 

The LPR’s is­sued by Chi­na’s Na­tional In­ter­bank Fund­ing Cen­ter (全国银行间同业拆借中心) on 20 October were 3.85% for the one year LPR and 4.65% for the five year LPR – the same as the pre­vi­ous month. 

Chi­na’s LPR’s have re­mained at the same level since 20 April, when the one year LPR fell by 20 ba­sis points com­pared to the March read­ing of 4.05%, and the five year LPR fell by 10 ba­sis points from 4.75%. 

The LPR in China is the lend­ing rate pro­vided by com­mer­cial banks to their high­est qual­ity cus­tomers, and serves as the bench­mark for rates pro­vided for other loans.

The Na­tional In­ter­bank Fund­ing Cen­ter serves as the des­ig­nated pub­lisher of the LPR, and re­leases the fig­ures at 9:30 am on the 20th of each month, af­ter first col­lect­ing quotes from the group of re­port­ing banks and cal­cu­lat­ing the av­er­age of these quotes fol­low­ing ex­clu­sion of the low­est and high­est quotes.

LEAVE A REPLY

Please enter your comment!
Please enter your name here