Different ratios to lift lending to small firms
By Feng Jianmin |
November 3, 2012, Saturday
|
Print Edition
Print Edition
China may use differentiated reserve requirements to encourage banks to lend to small businesses which usually find it difficult to get loans, according to a central bank official.
Small and medium-sized financial institutions will be allowed to lock less money with the central bank if their growth in lending to small businesses meets certain requirements, the China Securities Journal reported yesterday, citing Pan Gongsheng, deputy governor of the People's Bank of China.
The reserve requirement ratio for small and medium-sized lenders is 16.5 percent now, 3.5 percentage points lower than that of their bigger rivals after the latest cut in May. The ratio for rural lenders is 5.5 to 6 percentage points lower than for the big banks, Pan said.
He did not specify whether the PBOC will further lower the ratio for qualified banks.
The PBOC data showed banks lent 11.56 trillion yuan (US$1.85 trillion) to small and micro-sized businesses by the end of September, 2.6 times above the amount in March 2009.
Small and medium-sized financial institutions will be allowed to lock less money with the central bank if their growth in lending to small businesses meets certain requirements, the China Securities Journal reported yesterday, citing Pan Gongsheng, deputy governor of the People's Bank of China.
The reserve requirement ratio for small and medium-sized lenders is 16.5 percent now, 3.5 percentage points lower than that of their bigger rivals after the latest cut in May. The ratio for rural lenders is 5.5 to 6 percentage points lower than for the big banks, Pan said.
He did not specify whether the PBOC will further lower the ratio for qualified banks.
The PBOC data showed banks lent 11.56 trillion yuan (US$1.85 trillion) to small and micro-sized businesses by the end of September, 2.6 times above the amount in March 2009.
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