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The Scope Of Directional Drop Is Far Beyond The Expected Maximum Discharge Volume Of Up To 250 Billion.

2014/6/17 8:33:00 7

Directional Reduction Central Bank Deposit Reserve Ratio

> the world's < a target= "_blank" href= "http://www.91se91.com/" > clothing < /a > a target= "_blank" href= "_blank" > shoes "< > hat net" Xiaobian "to introduce the directional drop range is far beyond expectations, the largest" water discharge "can reach 250 billion. 
 this is a far more prospective direction than expected. 
 June 16th, Societe Generale, Minsheng Bank, China Merchants Bank and Ningbo bank were confirmed to be included in the direction of the targeted reduction. They were approved to reduce the deposit reserve ratio by 0.5 percentage points from now on. 
 June 9th, < a href= "http://www.91se91.com/news/index_c.asp" > Central Bank < /a > announced that from June 16th onwards, commercial banks that met the prudent operating requirements and reached a certain proportion of loans to agriculture, rural areas and farmers and small and micro enterprises reduced the RMB deposit reserve ratio by 0.5 percentage points. "This directional reduction will cover about 2/3 of the city commercial banks, 80% of the non County agricultural businesses and 90% of the non County agricultural cooperatives." 
The "people's Bank of China" yesterday's notice on directional reduction of the deposit reserve ratio of some financial institutions (hereinafter referred to as the "notice") shows that the central bank's applicable policy scope is: state-owned commercial banks, joint-stock banks, China postal savings bank, urban commercial banks, non County Rural Commercial banks, non County Rural cooperative banks, foreign-funded financial institutions, financial companies, financial leasing companies and auto financing companies. P 
 16 evening, the central bank official micro-blog said that the scope of directional reduction has not been expanded, including "state-owned commercial banks, joint stock commercial banks, city commercial banks, and agricultural businesses and other institutions". 
 Shi Lei, deputy general manager of Ping An Securities fixed income department, estimates that the maximum level of funds released from the targeted reduction will be 200 billion to 250 billion yuan. 
 > four lines are not up to standard .
 the Great Wall securities bank analyst Huang Biao said that the central bank will expand the direction to the joint-stock banks, which is echoed with the previous round of county agricultural businesses and county agricultural cooperative banks. With the increase of directional easing monetary policy, the supporting role of gradual monetary policy will gradually appear, and the subsequent adjustment of deposit and loan ratio will bring more substantial impact. 
 the responsible person of Societe Generale Bank told the media that the bank applied to the Fuzhou sub branch of the people's Bank of China for approval, and the RMB deposit reserve ratio was reduced by 0.5 percentage points in June 16th. The official said that the application of the industrial bank to the regulatory authorities is based on the central bank's notice. The Societe Generale Bank is in line with the ratio of small and micro loans. The proportion of RMB small and micro enterprise loans (including personal business loans) last year accounted for more than 50% of all new RMB loans. At the end of last year, the balance of loans for small and micro enterprises (including personal business loans) accounted for more than 30% of the total loans of all people. 
 according to the "notice" issued, the banking financial institutions that apply for the targeted reduction should satisfy two criteria simultaneously: first, comply with the macro and micro prudent management standards: state owned commercial banks, joint stock commercial banks and China postal savings banks are in compliance with the evaluation results of the implementation measures of the financial institutions' Prudential assessment; the other small and medium-sized banking financial institutions at the end of the first quarter of 2014 will meet the minimum requirements stipulated in the capital management measures of commercial banks (Trial). 
 Second, the "three rural" or small and micro enterprises loans reached a certain proportion: the increase in foreign currency loans related to agriculture last year accounted for more than 50% of the total amount of new foreign currency loans, and at the end of last year, the balance of foreign currency loans to agriculture accounted for more than 30% of the total foreign currency loans. Or, the increment of the small and micro enterprises loans (including personal business loans) last year accounted for more than 50% of the total new RMB loans. At the end of last year, the balance of RMB small and micro enterprises loans (including personal business loans) accounted for more than 30% of the total balance of RMB loans. 
 National Development Bank and policy bank, County Rural Commercial Bank, County Rural Cooperative Bank, rural credit cooperative and village bank are not included in the scope of this policy. 
 Xingye, people's livelihood, China Merchants Bank and four banks in Ningbo have confirmed to reporters that they have been included in the direction of quasi directional reduction, and the deposit reserve ratio has been reduced by 0.5 percentage points since yesterday. Shanghai Pudong Development Bank, Bank of communications, Everbright Bank, Beijing bank and Huaxia Bank have told reporters that they have not received relevant notice from the central bank. In addition, our reporter sent an interview letter to ICBC and Bank of China, and no reply was received as of press release. 
 Shi Lei told reporters that according to the above standard of "agriculture related loans or small increments 50%", the four state-owned commercial banks are hard to reach the standard. "Small and micro balances account for almost the same number of basic and industry averages, and growth accounts for 50% of the total demand, which is 12 percentage points higher than the average. 
 releasing fluidity exceeds 100 billion 
 there is a market view that this reduction and the last round of the reduction of the county financial institutions basically involves the vast majority of the financial institutions paying the deposit reserve. Therefore, although it is called "directional reduction" on the surface, it is virtually the same as a comprehensive reduction. 
 Li Huiyong, chief macroeconomic analyst at Shenyang Wanguo Securities Research Institute, told reporters that from the perspective of the number of institutions, there is some truth in the above statement. However, from the perspective of the size of the funds put into the policy intensity, there is a big gap between the targeted reduction and the overall reduction. "If it is a comprehensive reduction in the current deposit balance of 108 trillion, if the general decline of 0.5 percentage points, then the release of funds around 540 billion." 
 when it comes to the size of the fund, Shi Lei told reporters: "the conservative estimate is 100 billion to 200 billion yuan." He roughly estimated that the savings of the big banks would be reduced. The maximum size of the fund will be released from 200 billion to 250 billion yuan. "This is the maximum limit estimate, because the CBRC's related industry data mean and requirements are closer." 
 "according to the calculation of our bank group, we only calculate and determine the livelihood of the people, Xingye, merchants and Ningbo bank, and the release fund is about 40 billion." In response to the above notice, Li Huiyong told the newspaper that "the last round of the quasi reduction document is easy to misunderstand." He believes that this directive is clear, it can be estimated that the size of the release of funds total "almost 100 billion". 
 Li Zhiqiang, chief economist of Minsheng Bank's financial market, told reporters that the fund was about 150 billion yuan. He believes that the current economic downturn is not too obvious, from the perspective of liquidity, the release of this quasi directional drop of funds has basically met the market demand. This basically defines the central bank monetary policy will continue in the short term special easing mode. "Unless the economy is obviously down in July and employment is obviously difficult, it is possible for the central bank to consider overall easing, otherwise it is difficult to see further monetary easing policy." 
 Li Zhiqiang also said that the accuracy and overall reduction of this round are different from scale or effect. The meeting is in line with the spirit of the forty-ninth executive meeting of the State Council and increased financial support for the real economy, mainly to alleviate the financing difficulties and financing problems of small and micro enterprises. "Reduce the cost of financing and support small businesses, instead of lowering the scope of the market without distinction." 
In May 30, 2014, the forty-ninth executive meeting of the State Council clearly stated that the measures to strengthen the "a href=" http://www.91se91.com/news/index_cj.asp "directional reduction /a >" should be strengthened, and the banking financial institutions that meet the needs of structural adjustment and meet the needs of the market in order to meet the needs of the market, and appropriately reduce the reserve ratio of the banking financial institutions, such as the "three rural" and "small and micro enterprises", which are able to meet the market demand. P