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China 5 State-Owned Banks change LPR starting on 25 August 2020

Macro EconomicsReal EstateBankingMarket OutlookCapital Markets

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Loan Prime Rate Introduction:

LPR (Loan Prime Rate) is the most preferential lending rate offered by a commercial bank to its prime clients, and other lending rates can be offered by adding or subtracting basis points based on it. The LPR centralized quote and publish mechanism, is that the authorized publisher calculates the quotes provided by the panel banks as the average LPR and releases it to the general public. Currently the 1-year LPR and above-5-year LPR are published to the general public.

The LPR quotation group is comprised of 18 commercial banks, which expands from the original 10 basis, increasing urban commercial banks, rural commercial banks, foreign-invested banks and private banks, 2 for each respectively. The newly added panel banks are the ones with great influence in loan market, strong loan pricing powers and better service effect for small and micro enterprises among their area, which enhances the representativeness of LPR. Self-regulatory Mechanism of Market Interest Rate Pricing determines and adjusts the panel list, supervises and manages the operations, as well as regulates the behavior of the panel banks and the authorized publisher, in accordance with the Code of Conduct.

National Interbank Funding Center (NIFC) is the designated publisher of LPR, authorized by the People’s Bank of China (PBOC). The panel banks submit quotations to NIFC, with 0.05% as step length, before 9:00 am (GMT+8) on the 20th day of each month (holidays postpone). NIFC calculates the arithmetic average of the quotations, after removing the highest and lowest quotes, and approximates to the integral multiple times of the 0.05% to conclude the final LPR. At 9:30 am (GMT+8), LPR is released to the public on the websites of NIFC and PBOC.

In this topic, you will:
- learn the top 5 state-owned banks in China
- acquire financial knowledge in Mandarin for your next presentation

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