Deposit reserve refers to the deposit prepared by financial institutions in the central bank to ensure the needs of customers to withdraw deposits and settle funds. The ratio of the deposit reserve required by the central bank to its total deposit is the deposit reserve ratio. By adjusting the deposit reserve ratio, the central bank can influence the credit expansion ability of financial institutions, thus indirectly regulating the money supply. The excess deposit reserve ratio refers to the ratio of the reserves retained by commercial banks that exceed the statutory deposit reserve to all current deposits. From a morphological point of view, excess reserves can be cash or highly liquid financial assets.

The central bank's decision to raise the deposit reserve ratio is a macro-control of monetary policy, aiming at preventing the excessive growth of money and credit. Since the beginning of this year, the rapid growth of investment in China has not diminished, and one of the main reasons for the rapid growth of investment is the rapid growth of money and credit. Raising the deposit reserve ratio can correspondingly slow down the growth of money and credit and maintain the sustained, rapid, coordinated and healthy development of the national economy.

In July, RMB loans increased by1710.8 billion yuan, an increase of 203.2 billion yuan year-on-year. The total amount of credit provided by the entire banking system in seven months has reached 94% of the plan at the beginning of the year. However, the report of the central bank on June 65, 438+0, 654, 38+0 believes that raising the deposit reserve is not a drastic medicine. According to the report, under the condition of abundant liquidity in China, a slight increase in the deposit reserve ratio is a moderate fine-tuning.

In the first seven months of this year, new loans reached 2.352 trillion yuan, 94% of the credit line set by the central bank at the beginning of this year. Previously, the central bank publicly pointed out many times that July is generally the off-season of loans, and the loan increment usually shows a seasonal decline. However, in July this year, new loans were1710.8 billion yuan, an increase of 203.9 billion yuan over last July.

As for the excess liquidity in the financial system, the central bank explained in the second quarter monetary policy implementation report that the fundamental reason is the serious imbalance of China's international payments. The high surplus forms foreign exchange through compulsory settlement and sale of foreign exchange, and the central bank passively puts a large amount of base money into the banking system.