Category: Money tips Release Date: 2007-02-18
The central bank control of bank credit, "the volume
In order to increase the intensity of open market operations as the main means of
In May the total bank credit continued to surge at last, "angered" the central bank. Central bank governor Zhou Xiaochuan yesterday, HSBC Bank to pay a public statement after the Forum, will increase the intensity of open market operations. The central bank vice governor Wu Xiaoling also the day of release in May, said the credit data will be released in the open market by way of directional instruments to tighten monetary liquidity.
According to central bank figures released on the 14th bank this year, has completed the first 5 months of the year the central bank's goal of 2.5 trillion yuan of credit to 85%.
So "fast" data, causing the State Department's attention. State Council executive meeting held on the 14th to study the deployment of the recent economic work, made it clear that to further curb the excessive growth of money and credit continue to guide the long-term loans to commercial banks to invest a reasonable grasp the scale and pace.
Central bank vice governor Wu Xiaoling said the central bank would not issue a specific size of loans the management, but to continue to tighten liquidity control through the expansion of credit. Mainly through the orientation distribution in the open market the way an instrument whose loans are more, give who is multiple. This year the central bank will not die the size of loans issued by the management, through drastic measures, so that they do not have money to loan.
According to report, May 17 and June 14 the central bank has twice directed issuing bills, totaled 200 billion yuan of funds withdrawn from circulation. Two bills were 2.1138 percent interest rate, the interest rates than they were yesterday issued 25.0 billion one-year central bank bill rate average 2.48% below the 36.62 basis points, equivalent to raising the reserve ratio by 0.4 percentage points. Therefore, the industry believes that the central bank targeted a certain punitive bills. In the June 14 issue of 100 billion targeted amount, the amount of new loans in April Jushou the Construction Bank and Agricultural Bank of China issued 28.0 billion were targeted and 200 billion yuan, the central bank showed the amount of new loans too big banks of "directional control."
