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: % |
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|
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 |
