Client of Sino-Singapore Jingwei on February 29 (Song Yafen) On February 27, Liu Guoqiang, deputy governor of the central bank, said that he would reduce the target for banks that have met the standards for inclusive financial services in 2019.
Experts said that the targeted reduction of banks that have met the criteria for inclusive financial services is an established policy in itself and will be carried out once a year, mainly to encourage banks to issue more loans to SMEs.
According to the client's understanding of the China and Singapore Jingwei, the inclusive financial policy was introduced by the central bank in September 2017 for the first time. It was implemented in 2018, focusing on small- and micro-enterprise loans, individual industrial and commercial enterprises and small micro Business owner's business loans, as well as loans for farmers' production and operation, business start-up guarantees, filing of poverty-stricken people, and student loans. Since 2019, the central bank has further lowered the threshold for targeted RRR cuts, and adjusted the criteria for small and micro enterprises' loans to be scaled down by Inclusive Finance from “single-family credit less than 5 million yuan” to “single-family credit less than 10 million yuan”.
Dong Ximiao, a specially-appointed researcher of the National Finance and Development Lab, said in an interview with the client of Sino-Singapore Jingwei, "By targeting banks that have met the standards of inclusive financial services, we can better provide incremental liquidity support for small and medium banks. It is also in line with the "three-grade two-excellent" differentiated deposit reserve ratio policy framework. "
According to the central bank's regulations, for commercial banks with a loan balance or incremental share of 1.5% in the previous year, the deposit reserve ratio can be adjusted downward by 0.5 percentage points based on the benchmark file announced by the People's Bank of China; For commercial banks with a volume ratio of 10%, the reserve requirement ratio can be further reduced by 1 percentage point on the basis of the first principle.
Instead of focusing on directional reduction, Dong Ximiao suggested that more attention should be paid to the assessment standards and continue to be optimized. "The first stage can be reached by most banks, and the second stage is rarely reached. Therefore, I suggest that the standard of the second stage should be lowered appropriately so that more banks can enjoy the preferential policies."
Dong Ximiao emphasized that this kind of targeted reduction is in itself to encourage banks to increase inclusive financial services, and lowering standards can also allow banks to increase their services to small, medium and micro enterprises, and provide them with more low-cost funds.
Wen Bin, chief researcher of China Minsheng Bank, also believes that by providing such long-term, low-cost funds to banks, the bank's ability to provide loans to small and micro enterprises can be better improved.
According to Liu Guoqiang, since the outbreak, the central bank has taken a number of measures to reduce the burden on enterprises, support enterprises to resume work and resume production, and increase banks' reloans and rediscounts to guide banks to issue preferential loan interest rates for small and medium-sized enterprises to resume production. In the next step, the central bank will continue to advance the LPR reform to guide the overall market interest rate and loan interest rate downward. (Zhongxin Jingwei APP)
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