March credit continues to tighten increase in reserve requirement ratio

150 billion or 900 billion? The difference in the pace of delivery makes the forecasts of new lending quotas for March vastly different.　　However, regardless of the calculation, the continued tightening of credit is "nail". "The loan was more difficult this month than it was last month.　　"A sponsor of the company said to reporters. The person's statement coincided with the rumored quarterly credit-placement rhythm set by the regulator in the year 3322. According to the pace of the release and the whole year new RMB loan control around 7.5 trillion calculation, the 1-quarter new renminbi loan target was about 2.25 trillion, and the new renminbi loan in January has reached 1.39 trillion yuan, and in February there are still 700.1 billion yuan, that is, a quarter before two months total has been put in nearly 2.1 trillion yuan, which means that the March target is only about 150 billion yuan 。　　But if according to the previous year "4321" The drop Rhythm calculates, leaves March the new limit still has nearly 900 billion yuan. A branch of a state-owned bank has told reporters that there is no clear statement on the proportion of the quarterly delivery, but the bank's current control of credit management has been strict to the month, that is, each month under the target, controlling the balance. According to the current progress, the person said, almost in line with the market rumors of the quarterly "3322" of the pace of delivery.　　And said credit continued to tighten in March. Another state-owned bank branch also said to reporters that there is a demand for control of the scale, the overall smooth delivery, in February, the bank only two days before the beginning of the month, the line of credit can be put in March basically similar.　　However, compared to February, a large part of the credit space in early March was due to the amount vacated by customers after repayment, and partly to make room for the sale of loans. The person estimates that tighter credit space has left the branch with a backlog of about 2 billion trillion yuan in credit demand, which is difficult to meet.　　At the same time, the bank's bargaining power with credit tightening, gradually increased. "In the past, interest rates are still small enough to float, but there are basically no concessions on interest rates, and only a handful of important major clients have preferential rates." For small business loans, the interest rate is basically floating more than 10%.　　"When supply and demand change, banks will not budge on prices," said state-owned bankers.　　The guarantee company also said that the current lending to small and medium-sized enterprises basically float 10%-20%, part of the floating ratio of up to 30%. However, it is still difficult to say whether the March new credit line will really fall back to about 150 billion yuan. Societe Generale, a senior economist Lu County, said that if the "3322" requirements, March relative to February may fall back to about 50%, to 300 billion yuan.　　And some of the state-owned banks, a branch of the people said, March will not exceed 600 billion yuan. For the first quarter of the pace of credit, Lu County, although February new loans compared to January has been nearly 50% of the fall, but still more than expected, the December credit line overall high, he believes that the pace does not meet the prisonThe flow of the tube is required, and it is believed that it could lead to a renewed rise in the reserve requirement rate by the central bank. And the central bank raised the reserve requirement ratio two times this year, it can be said that the fuse is the credit momentum too fierce. That is, on the evening of January 12, the central bank announced that it would raise the deposit reserve ratio of deposits to financial institutions by 0.5% per cent on January 18, following rumours that the market had added credit or reached 600 billion yuan in the first week of the new Year. On February 12, the central bank again announced a similar background to the 0.5% per cent rise in the reserve requirement ratio, with the market rumoured to be still stronger in the early February, with new credit approaching 600 billion yuan on the last day before the Lunar New Year holiday.