The central bank reduction releases long-term funds 1.2 trillion yuan： promoting economic operation in reasonable intervals
The central bank reduction releases long-term funds 1.2 trillion yuan: promoting economic operation in reasonable intervals
Original title: Central Bank reduction releases long-term funds trillion yuan expert: promoting economic operation in the reasonable range People’s Network Beijing December 6th (Reporter Du Yanfei) People’s Bank today released news, in order to support physical economic development, promote comprehensive financing costs Decisive, the People’s Bank decided to reduce financial institutions deposit reserve ratio (without financial institutions that have implemented 5% deposit reserve rate), all of which have released long-term funds from about billion yuan. After the decision, the financial institution’s weighted average deposit reserve ratio is%. Multi-industry experts said in an interview with People’s Net Finance reporters that the reduction is the specific embodiment of cross-cycle adjustment, and has not changed the steady monetary policy orientation.
This will further guide financial institutions to increase support for key areas and weak links, reduce entity economic financing costs, and promote economic operation in reasonable intervals. Comprehensive reduction of the reasons required to meet the market main body, ZHANG Xiqi, the chief researcher of the financial, believes that from the international point of view, the global economic situation has fallen, the energy price is rising, the supply chain tension constraint The economic recovery of various countries.
From the perspective of domestic, the economic growth rate in the first half of the year is faster, but the gross domestic product (GDP) in the third quarter is%, and the average growth rate of two years is%. Some fields and small and medium-sized enterprises are still more difficult.
Dong Xizhen said that the central bank announced that it is fully reduced, which is very necessary and timely, contributing to the confidence and expectations of the market subject, and promoting the steady recovery of the entity economy, helping the enterprise go out of trouble and healthy development. Tang Jianwei, chief researcher of the Bank of China Financial Research Center, believes that this reduction is a moderate response to the objective situation of economic downtown and some of the risks in some areas, to strengthen cross-cycle adjustment to better support the entity economy and prevent financial risks. . "At this time, the reduction is not only space, but it is necessary." The chief researcher of Minsheng Bank said that in the other hand, my country’s economic work next year is not small, and the reduction is the specific embodiment of cross-cycle adjustment.
On the other hand, the comprehensive reduction of a percentage point, reflects the intensity of monetary policies to support the physical economics, in particular small and medium-sized enterprises, which helps to optimize banking architectural fund structure, reduce capital of banking institutions, encourage and guide financial institutions to further add Large to the physical economic support, reducing the cost of entity economic financing. "The purpose of this reduction is to strengthen cross-cycle adjustment, optimize financial institutions, and improve financial services, and better support the entity economy.
"The relevant person in charge of the People’s Bank said, while maintaining the reasonable liquidity of liquidity, effectively increase the long-term stable financial source of financial institutions to support the national economy, and enhance financial institutional fund configuration capabilities.
The second is to guide financial institutions to actively use reduction funds to increase support for physical economics, especially small and medium-sized enterprises.
The third is that the reduction of financial institutional funds is about 15 billion yuan per year, and it can promote the reduction of social integrated financing costs through financial institutions. The release of long-term funds for about trillion yuan "This reduction is comprehensive reduction, except for some counties legal financial institutions that have implemented 5% deposit reserve ratio, other financial institutions generally down-regulate deposit reserve ratio. At the same time, consider Most of the financial institutions to participate in the Punhui financial directional reduction assessment have reached the assessment standards such as small farmers (including individual industrial and commercial households), and the policy objectives have been realized. This reduction totals a long-term funding of about billion yuan.
"The person in charge of the People’s Bank said.
What specific impacts will it bring to the market after this reduction? Dong Xizhen said that this will continue to provide banks with long-term, stable low-cost funds, and reduce bank funding costs while increasing the liquidity of banking systems, helping to enhance the willingness and ability of banking services small and medium-sized enterprises and individual industrial and commercial households, consolidation and decrease Policy effects such as the comprehensive financing cost of the entity economy, so that the bank will make the economic economy, the behavior of small and micro enterprises is more sustained.
"According to the central bank, the reduction reduction is reduced to the bank capital costs about 15 billion yuan per year.
After the reduction, for the bank, the liquidity is more abundant, the capital cost is lower, the willingness and ability of credit will be improved.
For companies, it will be easier to obtain loans from banks, and loan interest rate is also expected to decline further, and the financing cost is lower. "Dong Xizhen said.
Wang Qing, the Chief of Oriental Jincheng, believes that the reduction can reduce the financing cost of small and medium-sized micro enterprises, and some of the pressure rising the price of raw materials to enterprises, effectively release steady growth signals, which helps to stabilize this year’s next year’s first macroeconomic economy run. "This reduction has repeatedly highlights the autonomy of my country’s monetary policy. At present, my country’s monetary policy emphasizes’ the actual needs of domestic economic regulation, and it is also in line with the general characteristics of the country’s policies. Qing said that considering the current and future, my country’s export will continue higher growth, this reduction may moderately suppress the appreciation of the RMB excessive value, providing a more favorable exchange rate environment for export enterprises. There is no change in a steady monetary policy to the person in charge of the people’s bank, said that the steady monetary policy orientation has not changed.
The reduction is a regular operation of monetary policy, and some of the funds released will be used by financial institutions to return the expiration of the medium borrowing (MLF), and some are used by financial institutions to supplement long-term funds, better meet market subject needs.
"This reduction is a comprehensive reduction, but does not mean that the monetary policy is sliding easier.
Although the reduction released about trillion, some funds will be used to return the expiration of the medium borrowing convenience (MLF), the actual release of liquidity is relatively controllable, and there is no ‘large water roaming’. "Dong Xizhen said that the purpose of this reduction is to strengthen the period structure of cross-cycle adjustment, optimize financial institution funds, better support and service entity economy, and transmit a reasonable and relatively abundant maintenance of the maintenance, which is conducive to physical economic recovery. And consolidate, fundamentally beneficial to the health and sustainable development of the real estate market and the capital market.
Wen Bin also believes that this reduction is not a currency policy to be easily loose, but to ensure the role of structural monetary policy tools under the premise of ensuring reasonable liquidity, increase the social and medium-sized enterprises, green development, and technological innovation. The support of key areas and weak links, driving economic climbing overhead, and promoting economic operation in reasonable intervals. Tang Jianwei pointed out that the path to the banking system is to release more long-term funding by reducing the debt cost of the banking system.
The final landing of funds will focus on the support of the entity economy, especially in the support of the key areas and weak links such as small and medium-sized enterprises, green, cursement, manufacturing industry.
"Next, the People’s Bank will continue to implement a steady monetary policy, adhere to the stability of the word, do not engage in high water roan, take into account the balance of internal and external, maintain a reasonable intensity of liquidity, maintain the growth rate of money supply and social financing, the rapid growth of the mean supply Basic match, strengthen cross-cycle adjustment, coordinate the macro policy of this and tomorrow, support small and medium-sized enterprises, green development, scientific and technological innovation, create a suitable monetary financial environment for high quality development and supply side structural reform.
"The person in charge of the People’s Bank said. (Responsible: Yan Yuan, Xuan Zhaoqiang) Sharing let more people see.