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PBOC to adjust bank deposits calculation
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THE People’s Bank of China will adjust rules for calculating bank deposits starting next year in a move to increase funds available for lending at commercial banks, sources said yesterday.
Several joint-stock commercial banks said they have received a central bank notice saying that interbank deposits are regular bank deposits. The reserve requirement ratio for newly increased deposits under the new rules will be fixed at zero temporarily.
“We have already received the central bank circular on Friday,” said an official of a joint-stock bank who asked to be anonymous as he is not authorized to speak on the matter.
“Under the new rules, some interbank deposits, including savings for securities and transaction settlement as well as savings held by banks for non-deposit-taking financial institutions, will be calculated as regular bank deposits,” the official said.
Analysts said the move was set to lower banks’ loan-to-deposit ratio and increase their available funds to lend amid tight liquidity at the time being.
Guo Tianyong, a professor at the Central University of Finance and Economics, said the new rules will enlarge deposit as the denominator in calculating the loan-to-deposit ratio. The lower ratio means banks have more capital in their disposal to lend.
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