In essence, it is the tool of the central bank. Loan-to-deposit ratio and capital adequacy ratio are the tools of banking supervision, and the central bank certainly needs its own set. Another feature of the agreed loan scale is the "black box", which allows banks to obey and not predict, and strengthens the pertinence of decision-making. On the other hand, the unpredictable decision will inevitably lead to its failure to realize itself by affecting expectations, which will lead to the reduction of lines. It is the index used by the People's Bank of China to guide the credit scale growth of financial institutions. However, unlike the mandatory scale control before 2, the agreed loan scale is flexibly managed. It should be clearly pointed out that although it is an administrative means, it is not a black-box operation. In practice, financial institutions calculate the overall scale of new loans at the beginning of the year by themselves, and then the People's Bank of China will verify it according to the overall situation and make monthly adjustments. The so-called agreement is to allow the final scale to fluctuate to a certain extent, but beyond the floating range, the policy inclination will be weakened and the benefits will not be so much. Unlike the previous loan scale control, how much is set is only how much in that year. In contrast, in fact, making an annual plan with the head office of a financial institution is the same for the following scale control. If there is more lending, the possibility of profit will be greater, but the risk will go up, but for the People's Bank of China, the risk to be hedged comes from fiscal policy. Due to the matching requirements of monetary policy and fiscal policy, starting from 4 trillion yuan, the motivation and pressure of financial institutions to lend are quite large, the total amount of money issued has been restrained, the impact of the open market on loans is indirect, the reserves cannot be moved frequently, and the scale of refinancing is relatively small. Direct scale management is undoubtedly a more convenient approach.