In order to deepen the interest rate marketization reform and further promote the application of the loan market quotation rate (LPR), the relevant matters concerning the conversion of the current floating rate loan pricing benchmark of LPR are hereby announced as follows:
1. The floating interest rate loans for stocks mentioned in this announcement refer to floating interest rate loans (excluding provident fund personal housing loans) issued by financial institutions before June 65438+1 October12020. Since June 5438+ 10/day, 2020, financial institutions are not allowed to sign floating interest rate loan contracts with reference to the benchmark loan interest rate.
2. From March 1 2020, financial institutions should negotiate with customers of existing floating interest rate loans on the conversion terms of the pricing benchmark, and convert the interest rate pricing method agreed in the original contract into LPR as the pricing benchmark (the increase point can be negative), and the value added will be fixed during the remaining period of the contract; It can also be converted into a fixed interest rate. Pricing benchmark can only be converted once, and cannot be converted again after conversion. In the last repricing cycle, the floating-rate loan of inventory shall not be converted. In principle, the conversion of the pricing benchmark of floating rate loans should be completed before August 3, 20201.
Three, the stock floating rate loan pricing benchmark is converted into LPR, except for commercial personal housing loans, the added value is determined by the borrower and the lender through consultation. The value-added of commercial personal housing loans should be equal to the difference between the latest interest rate of the original contract and the corresponding term LPR issued in February 20 19. From the conversion point to the first re-pricing date after that point (excluding), the execution interest rate level shall be equal to the latest execution interest rate level of the original contract, that is, the sum of LPR and value-added during the corresponding period of 20 19. Thereafter, from the first repricing date, the interest rate level is recalculated on each interest rate repricing date, and is determined by the corresponding period LPR and added value of the latest month.
Four, financial institutions and customers to negotiate the pricing benchmark conversion terms, you can re-agree on the re-pricing period and re-pricing date, of which the re-agreed re-pricing period of commercial personal housing loans is the shortest one year.
5. If the floating interest rate loan stock is converted into a fixed interest rate, the converted interest rate level shall be determined by the borrower and the borrower through consultation, and the converted commercial personal housing loan interest rate level shall be equal to the latest interest rate level of the original contract.
Six, financial institutions should use the official website and outlets announcement, telephone, SMS, mail and mobile banking and other channels to inform the stock of floating interest rate loan customers, negotiate and agree on specific matters of pricing benchmark conversion, and protect the contractual rights and consumer rights of borrowers according to law.
Seven, the branches of the people's Bank of China should strengthen the guidance of local corporate financial institutions, to ensure that local corporate financial institutions in accordance with the unified deployment, properly do a good job in the stock of floating interest rate loan pricing benchmark conversion.
The relevant person in charge of the People's Bank of China answered a reporter's question on the conversion of the pricing benchmark of floating interest rate loans.
1. What are the main considerations to promote the conversion of the pricing benchmark of existing floating rate loans?
A: On August 7, 2009, the People's Bank of China issued the Announcement on Reforming and Perfecting the Formation Mechanism of LPR in the Loan Market. At present, nearly 90% of new loans have been priced with reference to LPR, but the stock floating rate loans are still priced based on the benchmark interest rate of loans, which can not reflect the changes of market interest rates in time, which is not conducive to protecting the rights and interests of both borrowers and lenders. In order to further deepen the reform of LPR, the People's Bank of China issued Announcement No.30 [20 19] to promote the smooth conversion of the existing pricing benchmark of floating rate loans.
2. What are the principles for the conversion of the pricing benchmark of floating rate loans?
A: First, the borrower can negotiate with the bank to determine whether to convert the pricing benchmark into LPR or fixed interest rate. The borrower has only one choice, and it cannot be converted again after conversion. In the last repricing cycle, the floating-rate loan of inventory shall not be converted. Second, the conversion work will be started on March 2020 1, and should be completed before August 3, 20201in principle. Third, the interest rate level of the converted loan is determined by both parties through consultation. Among them, in order to implement the regulation requirements of the real estate market, the existing commercial personal housing loan interest rate level should remain unchanged at the time of conversion.
3. How to change the pricing benchmark of commercial personal housing loans from the benchmark interest rate to LPR?
A: Since the date of announcement, the Bank should formulate the existing commercial personal housing loan pricing benchmark conversion work plan as soon as possible, including system support, personnel training, etc., and inform customers through various channels (including official website and outlet announcements, SMS, email, mobile banking, telephone notification, etc.). On the premise of mutual consent, change the original contract terms in a simple and easy way as far as possible. If the pricing benchmark is converted to LPR, the term variety of LPR is determined according to the loan term of the original contract, and will not be adjusted during the remaining term of the contract after determination; The added value is the difference between the latest execution interest rate of the original contract and the LPR of June 20 19, 12 (which can be negative), and it will be fixed during the remaining term of the contract; The interest rate level remains unchanged at the time of conversion; Lenders and borrowers can re-agree the re-pricing period and date, and the shortest re-pricing period is one year.
When the same commercial individual housing loan is converted at any time between March and August, 2020, the value-added part is determined according to the LPR of February 20 19 and the original interest rate level. The added value is not affected by the conversion time, and banks and customers can handle it reasonably. At present, the repricing period of most existing commercial personal housing loans is 1 year, and the repricing date is 1 day every year. Take this as an example. If the original contract term of commercial personal housing loan is 20 years, and the remaining term is 8 years, the interest rate agreed in the original contract is that the benchmark interest rate of loans for more than 5 years rises 10%, and the current interest rate is 4.9% × (1+10%) = 5.39%. 20 19 and 12 issued an LPR of more than 5 years, which was 4.8%. If the borrower and lender decide to change the pricing benchmark on March 30, 2020, and the repricing period is still 1 year and the repricing date is still 1 day every year, the increase rate should be 0.59 percentage points (5.39%-4.8%=0.59%). From March 30th to February 30th, 2020, 65438+3 1, the interest rate is still 5.39%(4.8%+0.59%). On the first re-pricing date thereafter, that is, 202 1, 1, according to the re-agreed re-pricing rules, the interest rate announced in 65438+February 2020 will be adjusted to LPR+0.59%, and so on every year thereafter.
4. How to convert the pricing benchmark of other stock loans except commercial personal housing loans?
A: Except for commercial personal housing loans, other floating interest rate loans, including but not limited to corporate loans and personal consumption loans, can be converted into fixed interest rates through negotiation between borrowers and borrowers according to the principle of marketization, including the term variety, value-added, repricing term and repricing date of LPR.