There Is No Clear Target For &Nbsp In This Year'S Credit Market; Scale Reference Economic Growth Rate.

Key scale economic growth rate

Regulation is mainly based on differential reserve instruments.

Reporters learned from the sources, this year's

Hu Xiaolian, vice governor of the central bank, recently said that the growth of bank credit should be consistent with the main goals of social and economic development, especially considering economic growth targets and inflation control targets.

In the next stage, the central bank should combine the total regulation of money and credit and liquidity management with a sound macro Prudential policy framework, make use of the dynamic adjustment of differential reserves, and play the role of conventional monetary policy tools, such as interest rate, deposit reserve ratio and open market business.

According to market participants, this will probably mean that in the course of implementing the monetary policy this year, the central bank will focus on the differential reserve ratio tool, and the number of collective reserve deposits will be significantly reduced compared with last year.

Last year, the central bank raised the total deposit reserve rate six times. At present, the deposit reserve ratio of large financial institutions reaches 18.5%, which is at a historical high.

The industry believes that under the background of strong impulse of credit expansion, the dynamic adjustment of differential reserves can take into account the systemic importance of financial institutions, the steady state of institutions and the implementation of state credit policies, so as to recover more excess liquidity and guide financial institutions to provide loans reasonably, moderately and smoothly, optimize the credit structure and reflect the requirements of macroeconomic regulation and control.

At present, the work of dynamic adjustment of differential reserves is ready.

Recently, some media reported that the central bank has formulated a set of standard differential deposit reserve ratio calculation method. In 2011, the central bank will calculate and implement differential deposit reserve measures for banks, taking into account that commercial banks need to adjust their business structure for a certain period of time. The first three quarters will give commercial banks a gradual tolerance.

The formula set by the central bank is that 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 then the robust adjustment parameters of the bank are taken.

Meanwhile, the media reported that the central bank is planning to reduce the excess deposit reserve interest rate in order to further develop the interest rate liberalization during the "12th Five-Year" period.