The People’s Bank of China authorized the National Interbank Funding Center to announce that on June 21, 2021, the loan market quoted interest rate (LPR) is 3.85% for 1-year LPR and 4.65% for 5-year or longer LPR. The above LPR is valid until the next LPR is issued.
Introduction to Loan Market Quoted Rate (LPR)
Loan market quoted interest rate (LPR) is quoted by each quoting bank based on open market operating interest rates (mainly refers to the medium-term lending convenience interest rate) plus points. It is calculated by the National Interbank Funding Center to provide a pricing reference for bank loans. At present, LPR includes two varieties of 1 year and 5 years or more.
LPR quotation banks currently include 18 banks. Each quotation bank will submit quotations to the National Interbank Funding Center in steps of 0.05 percentage points before 9 o’clock on the 20th of each month (postponed on holidays). The National Interbank Funding Center presses After removing the highest and lowest quotations, the arithmetic average is calculated and the LPR is calculated by rounding to the nearest integer multiple of 0.05%. The LPR will be announced at 9:30 on the same day. The public can inquire at the National Interbank Funding Center and the People’s Bank of China website.