Home >

Lending In The First Week Of 2011 Was 600 Billion &Nbsp; The Central Bank Tightened The Signal.

2011/1/12 10:48:00 39

The Central Bank Tightened The Signal In 2011.

Central Bank

Data released in January 11th showed that in 2010, China's new credit increased to 7 trillion and 950 billion, of which 480 billion 700 million in December was the only new month, which was the only month below 2010 in December.

Suppressed at the end of last year.

Credit demand

It was released in January this year.

According to analysts, lending in the first week of January has reached 600 billion, with an estimated one trillion of new loans coming up this month.

In twenty-first Century, the economic report quoted Shi Lei, research director of Ping An Securities fixed income department, according to the report. It is presumed that about 600 billion of the new loans were released in the first week of January, and the pressure of the central bank's quantitative regulation is still relatively large.

Current first quarter

Credit indicators

The bank insiders have said that the volume will not be small this year, but will be tighter than last year.

And now banks are backlog of reserves, and there is no suspense about the blowout of loans in January.

Societe Generale Securities predicts that if the credit is about 1 trillion and 200 billion yuan in January, it shows that the regulation will be more moderate and the economy will be more stable.

From the change of interest rate in the central bank, we can see that the central bank has deliberately tightened market liquidity.

In January 11th, the central bank returned 61 billion yuan in the open market within a day, the largest single operation in the last ten weeks.

Moreover, the issuance rate of the central bank rose sharply for three consecutive weeks, rising 10 basis points to 2.7221% yesterday, and less than 3 basis points for the latest year's fixed interest rate.

Some analysts said that the sudden increase in the amount of return on the open market operation on Tuesday showed that although the demand for funds for the Spring Festival holiday was about to be met, controlling the total liquidity valve and avoiding the flood of funds led to the excessive growth of bank credit, which remained the central task of the central bank in the first quarter.

In this case, the differential deposit reserve ratio may be used again.

Earlier media reports said that the difference in deposit rate between banks was calculated by the central bank. The differential deposit reserve ratio paid by banks is equal to the difference between the capital adequacy ratio and the actual capital adequacy ratio calculated according to the macro prudent Prudential requirement, and the parameters of the bank's robust adjustment are multiplied.

Wu Yonggang, a banking analyst at Guotai Junan, said in a media interview that the differential deposit reserve ratio is one of the monetary policy tools of the central bank to control bank credit. Under the condition that the central bank has not explicitly announced, it can only be said that the possibility of implementation is very great.

"Future differential deposit reserve interest rates will also change, for some" speeding "banks, interest rates may fall to the level of statutory reserve requirements, or even zero.