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Announcement No. 15 [2019] of the People's Bank of China—Announcement of the People's Bank of China on the Decision to Reform and Improve the Formation Mechanism of Loan Prime Rate (LPR) [Effective]
中国人民银行公告[2019]第15号――关于中国人民银行决定改革完善贷款市场报价利率(LPR)形成机制的公告 [现行有效]
【法宝引证码】

Announcement of the People's Bank of China 

中国人民银行公告

(No. 15 [2019]) (〔2019〕第15号)

For the purposes of deepening the market-oriented reform of interest rate, improving the transmission efficiency of interest rate, and promoting the reduction of the financing cost of the real economy, the People's Bank of China has decided to reform and improve the formation mechanism of loan prime rate (LPR). The relevant matters are hereby announced as follows: 为深化利率市场化改革,提高利率传导效率,推动降低实体经济融资成本,中国人民银行决定改革完善贷款市场报价利率(LPR)形成机制,现就有关事宜公告如下:
I. From August 20, 2019, the People's Bank of China shall authorize the National Interbank Funding Center to announce the LPR at 9:30 a.m. on the 20th day of each month (postponed in case of holidays). The public may check it on the website of the National Interbank Funding Center and the People's Bank of China.   一、自2019年8月20日起,中国人民银行授权全国银行间同业拆借中心于每月20日(遇节假日顺延)9时30分公布贷款市场报价利率,公众可在全国银行间同业拆借中心和中国人民银行网站查询。
II. The LPR quoting bank shall, before 9:00 a.m. on the 20th day of each month (postponed in case of holidays), submit their quotations to the National Interbank Funding Center by means of adding a few basis points to the interest rate for open market operations (mainly referring to the rate of medium-term lending facility). The National Interbank Funding Center shall get the LPR by calculating the arithmetic average of the quotations after excluding the highest and lowest ones.
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   二、贷款市场报价利率报价行应于每月20日(遇节假日顺延)9时前,按公开市场操作利率(主要指中期借贷便利利率)加点形成的方式,向全国银行间同业拆借中心报价。全国银行间同业拆借中心按去掉最高和最低报价后算术平均的方式计算得出贷款市场报价利率。
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