Loan is the most important market tool in the credit market, and loan business is also the most important asset business of commercial banks so far. Below I will solve the credit market for you, hoping to help you.

Content of credit market

The credit market is a trading market for credit instruments. Credit market trading instruments that belong to the category of money market have a term of less than one year, while those that do not belong to the category of money market have a term of more than one year. Credit market is the product of the development of commodity economy. Under the condition of commodity economy, with the development of commodity circulation, the increasing expansion and socialization of production, the rapid transfer of social capital, and the use and circulation of various financing forms and credit instruments, the credit market has been formed, and the sustained, stable and coordinated development of commodity economy cannot be separated from the support of a complete credit market system.

The role of credit market

The main function of credit market is to adjust temporary or long-term capital surplus and deficiency and promote the development of national economy; In addition, the credit market is also the main place for the central bank to macro-control the total credit and carry out the intention of monetary policy.

(1) The basic function of the credit market is to adjust the temporary or long-term capital surplus and deficiency.

In economic life, capital surplus units have extra funds and do not want to spend further at present; Deficit units want to spend more, but lack of funds, the plan can not be realized. The essence of credit activity is the paid transfer of savings funds from surplus units to deficit units. The involvement of the financial system represented by banks has formed a credit market mechanism, which has greatly promoted this transfer process and is of great significance to the smooth operation of the economic system.

(B) The development of the credit market has promoted the development of a country's national economy.

The credit market promotes the redistribution of capital and the equalization of profits. The rapid development of national economy depends on the coordinated development of various departments, which is mainly achieved through the spontaneous transfer of capital. Capital always flows from industries with low profits to industries with high profits to ensure that enterprises can get the maximum profits. However, capital can't flow completely freely, and the appearance of credit market makes these restrictions disappear, thus making a country's national economy develop rapidly.

(3) The credit market is also the main place for the central bank to carry out macro-control of the total amount of credit and implement the intention of monetary policy.

There are two main macro-control policies of the central bank on money and credit. The first kind of monetary policy is to adjust the reserve and monetary multiplier of the banking system in two directions: contraction or relaxation, so as to affect the total amount of money and credit. The other is to interfere with the allocation of funds in the credit market in various ways, thus causing changes in the structure of money and credit. These two policies mainly occur in the credit market and cannot be separated from the support of the credit market.

Credit market subject

The market subject of credit market can be divided into two categories: the supplier of credit funds and the demander of credit funds. The main function of the credit market is to finance between the two parties.

(a) the provider of credit funds

1, commercial bank

The providers of credit capital market are mainly commercial banks, and financing business is the most important business of commercial banks. Commercial banks are the most active part of the credit market, with the largest transaction volume and the largest use of credit instruments, which have the greatest impact on the supply and demand of funds and the fluctuation of interest rates. In China's credit market, state-owned commercial banks occupy most of the market share. However, with the reform of China's financial system, the market share of joint-stock commercial banks and local city commercial banks is gradually expanding. In the rural credit market of China, rural credit cooperatives are the main providers of funds.

2. Non-bank financial institutions

Other financial institutions other than banks, such as urban credit cooperatives, finance companies, finance companies, insurance companies and trust companies, are also important providers of funds in the credit market. In the mixed financial market, these non-bank financial institutions are also actively expanding the credit business in the credit market and realizing the diversification of business and income. Under the pattern of separate operation in China, non-bank financial institutions cannot directly enter the credit market, but there are also cases where non-bank financial institutions indirectly enter the credit market through other channels.

3. Enterprise

Because of the concentration of sales revenue, enterprises will temporarily idle funds, and they will inject funds into the credit market in the form of private agreements with suitable loan targets. In China's private equity financing market, enterprises with idle funds are playing an increasingly important role in solving the non-mainstream financing of SMEs.

(2) the demanders of credit funds

The demanders of funds in the credit market are mainly enterprises, individuals and financial institutions.

1, enterprise

Enterprises often have temporary and seasonal capital needs in their production and operation activities, and enterprises often have various long-term capital needs due to their own development, so they raise the required funds in the form of loans in the credit market. For enterprises in China, the credit market is the most important channel for them to raise funds, but it is still very difficult for small and medium-sized enterprises to raise funds in this market.

2. Because of large consumption and real estate investment, individuals often have short-term and long-term credit needs, and they often go to the credit market to raise the required funds by borrowing. The most important personal business in China credit market is housing credit business. With the increase of national income in China, auto credit and credit card credit business are also developing rapidly.

3. Financial institutions

Financial institutions, like industrial and commercial enterprises, often have short-term and long-term financing needs in their business activities. For example, the securities companies and trust companies in China used to be important demanders of funds in the credit market.

(3) Central banks and regulatory agencies

Central banks and financial regulators are also important participants in the credit market.

1, Central Bank

According to the needs of national economic development, the central bank usually adjusts the scale and structure of the credit market through monetary policy tools such as reserve ratio, discount rate and refinancing. The People's Bank of China plays the macro-control role of the central bank in China's credit market.

2. Financial regulators

As the competent authority to ensure the compliance of financial institutions, financial supervision departments monitor the legal compliance of credit business of banks and other financial institutions in order to prevent and resolve financial business risks. In China's credit market, CBRC plays the role of financial supervision.

Central bank loan benchmark interest rate

China People's Bank loan benchmark interest rate: (1) Short-term loans: within one year (including one year), and the adjusted interest rate is 4.35. (2) Medium and long-term loans: the adjusted interest rate is 4.75 for one to five years (including five years); The adjusted interest rate for more than five years is 4.90. (3) Personal housing provident fund loan: the adjusted interest rate is 2.75 for less than five years (including five years); The adjusted interest rate for more than five years is 3.25.

In order to deepen the interest rate marketization reform, improve the interest rate transmission efficiency and reduce the financing cost of the real economy, the People's Bank of China decided to reform and improve the formation mechanism of the quoted interest rate (LP) in the loan market. The relevant matters are hereby announced as follows:

1. Since August 20, 2065438+2009, the People's Bank of China has authorized the National Interbank Funding Center to announce the quoted interest rate of the loan market at 9: 30 on the 20th of each month (postponed in case of holidays), which can be inquired by the public on the websites of the National Interbank Funding Center and the People's Bank of China.

II. Loan Market Quotation Rate Quotation Banks should quote to the National Interbank Funding Center at the open market operating rate (mainly referring to the medium-term lending convenience rate) before 9: 00 on the 20th of each month (postponed in case of holidays). After removing the highest and lowest quotations, the National Interbank Funding Center calculates the quotation rate of the loan market through arithmetic average.

Third, in order to improve the representativeness of the loan market quotation rate, the types of quotation banks in the loan market quotation rate have increased from the original national banks to city commercial banks, rural commercial banks, foreign banks and private banks, and this time they have been expanded from 10 to 18, and will be evaluated and adjusted regularly in the future.

4. Expand the quoted interest rate of the loan market from the original one-phase variety 1 year to two-phase variety 1 year and more than five years. Loans with a term of 1 and a term of more than five years are priced with reference to the loan market quoted interest rate of the corresponding term, and the loan interest rates with a term of 1 and a term of 1 to five years are independently selected by the Bank.

Five, from now on, banks should mainly refer to the loan market quotation rate pricing in new loans, and adopt the loan market quotation rate as the pricing benchmark in the floating rate loan contract. The existing loan interest rate is still implemented according to the original contract. Banks may not set the implicit lower limit of loan interest rate pricing in any form through cooperative behavior.

Six, the People's Bank of China will guide the market interest rate pricing self-discipline mechanism to strengthen the supervision and management of the loan market quotation rate, evaluate the quotation quality of quotation banks, urge banks to use the loan market quotation rate pricing, and seriously deal with illegal acts that disrupt the market order such as setting the implicit lower limit of loan interest rate by banks. The People's Bank of China incorporated the application of the quoted interest rate in the loan market and the competitive behavior of the loan interest rate into the macro-prudential assessment (MPA).

Legal basis:

According to Article 26 of the Provisions of the Supreme People's Court on Several Issues Concerning the Application of Laws in the Trial of Private Lending Cases, if the lender requests the borrower to pay interest at the interest rate agreed in the contract, the people shall support it, except that the interest rate agreed by both parties exceeds four times the one-year loan market listing rate when the contract is established.

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What is the quoted interest rate in the loan market?

Loan market quotation rate LPR is a basic loan reference rate calculated and published by representative quotation banks in the form of open market operating rate plus points according to the bank's loan interest rate for the best quality customers, and authorized by the People's Bank of China. In the future, LPR will become the main reference benchmark for loan interest rate pricing. For details, please consult 95566 manual or online customer service of Bank of China.

The above contents are for your reference. Please refer to the actual business regulations.

The difference between credit market and capital market

The differences are as follows:

1. Capital market has two meanings. First, the whole financial market is divided into money market and capital market according to the length of financing period, and capital market refers to the financial market with financing period of more than one year; Second, it refers to the securities market, in a narrow sense, the capital market.

2. Credit market has two meanings: one is deposit and loan market, and the other is loan market.

What is the market loan interest rate in 2022?

3.7%。 On June 20, 2022, the loan market quoted interest rate (LPR) was announced: The People's Bank of China authorized the National Interbank Funding Center to announce that on June 20, 2022, the loan market quoted interest rate (LPR) was 65,438+3.7% for 0 years and 4.45% for 5 years and above. Loan Market Quotation (LPR) is a basic loan reference rate calculated and published by the National Interbank Funding Center authorized by the People's Bank of China. Representative quotation banks quote in the form of open market operating rate (mainly referring to the medium-term lending convenience rate) according to the bank's loan interest rate for the best quality customers. All financial institutions should mainly refer to the loan pricing of LPR.

What does lpr interest rate mean?

The difference between lpr interest rate and benchmark interest rate: The benchmark interest rate for loans is adjusted and announced by the People's Bank of China from time to time. LPR is the interest rate quoted by the quoting bank according to the loan interest rate executed by the bank's best customers, and calculated and published by the National Interbank Funding Center authorized by the People's Bank of China. Compared with the benchmark loan interest rate, LPR is more market-oriented and can better reflect the changes of market supply and demand. For example, in the past, banks issued loans to customers, and the interest rate was determined in the form of "XX times floating" and "XX discount" according to the benchmark loan interest rate announced by the central bank. On August 7, 20 19, the People's Bank of China issued an announcement to reform and improve the formation mechanism of LPR, and made it clear that banks should mainly refer to LPR to determine the loan interest rate. That is to say, when issuing new loans, banks will determine the interest rate with reference to LPR in the form of "LPRxx basis points", "LPR-xx basis points" (one basis point =0.0 1%), or "LPRxx%" or "LPR-xx%".