Bank reserve requirement rate cut in disaster area

Temporarily unable to repay the borrower not to pay the rest of the report yesterday evening, the central bank of the Joint Banking Regulatory Commission, the SFC and the CIRC jointly issued "on the full efforts to do a good job in Yushu earthquake-stricken areas of financial services," the emergency notice, spontaneously, down the disaster area of local legal institutions deposit　　The CBRC decided to implement a flexible credit management policy in the affected areas. According to the emergency notice, the central bank decided to increase financial support to the disaster areas, in addition to lowering the reserve requirement ratio to support the increase in the disaster area of credit, but also to the disaster areas to increase the amount of refinancing (re discount), to support financial institutions in the disaster areas to enhance capital strength, strengthen earthquake relief and post-disaster reconstruction of credit　　To carry out the preferential interest rate for the agriculture-supporting loan, this kind of loan interest rate can reduce the financial burden of the financial institutions in the disaster area by 1% on the current level of the agricultural loan interest rate. The central bank demanded that the People's bank branch of the disaster-stricken area should take effective measures to ensure the cash supply of the disaster area, and the financial institutions withdraw cash from the People's Bank's issuing library. The financial institutions in the disaster area should do their best to ensure the funds are allocated to protect the affected people's deposits. For holders of valid certificates of deposit, banking financial institutions shall be dealt with in a timely manner.　　In the absence of valid certificates of deposit, but the depositor may provide other valid proof information, the banking financial institution may pay the cash below 5000 yuan in advance. In addition, the CBRC yesterday issued a separate request to exempt from the Special Account for disaster relief funds transfer fees, as well as the implementation of flexible credit management policies in the affected areas. The CBRC also decided to apply a flexible credit management policy to the Wenchuan earthquake, clear to Yushu before the earthquake disaster has been issued, after the disaster can not repay the various types of enterprises and individual loans, in the end of June 2011, the implementation of "four not" policy, that is, not to collect reminders, no penalty, not as a bad record, Without affecting other disaster relief credit support in the disaster area, the policy implementation period can be extended to the end of 2011 for enterprise clients.