Mianyang Central Branch of the People's Bank of China Promoted the First Joint Conference on Self-Discipline of Market Interest Rate Pricing in Mianyang in 2019
In order to summarize the work of Mianyang municipal market interest rate pricing self-discipline joint conference in 2018, to arrange the key work of the 2019 self-discipline joint conference, to manage the deposit interest rate in 2019 and to maintain the interest rate pricing order, Mianyang Central Branch of the PBOC promoted the First Joint Conference on Self-Discipline of Market Interest Rate Pricing in Mianyang in 2019 on Jan.30. There were more than 60 participants including leaders of 31 banking financial institutions in the city and the main persons in charge of the leading department of interest rate management. The meeting was organized by the first lead organization of Mianyang market interest rate pricing self-discipline joint conference-- Mianyang branch of industrial and commercial bank of China. Yang Shixi, deputy governor of Mianyang central sub-branch of the people's bank of China, attended the meeting and delivered a speech.
Industrial and commercial bank of China, Mianyang branch briefed on the implementation of 2018 Mianyang deposit and loan interest rate policy, real estate credit and small and micro enterprise interest rate policy, assessment of local corporate financial institutions, and issuance of interbank certificates of deposit and certificates of deposit. At the meeting, arrangements for the work of the self-discipline joint conference in 2019 were made. Meanwhile, all participants studied some documents about the requests for market rate pricing self-discipline mechanisms and about reducing financing costs for private and small and micro businesses.
Then, the eight core members of Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank, Provincial Association of Mianyang Office, Mianyang Commercial Bank and China Merchants Bank made statements on the 2018 interest rate pricing management, as well as the 2019 deposit interest rate pricing management and small and micro enterprise loan interest rate. They said that they will earnestly abide by the Sichuan province self-discipline mechanism resolution, consciously and rationally regulate pricing, and maintain the pricing within its competitive order.
Finally, Yang Shixi gave a speech. He affirmed the achievements of the self-discipline joint conference since its establishment, stressed the importance and necessity of fully understanding the interest rate management, and put forward three requirements for the work of the self-discipline joint conference. First, the awareness of law and compliance, fair competition, risk prevention and control and the overall situation should be established. According to the relevant requirements of the self-discipline mechanism, the pricing of deposit interest rate should be well managed, and self-examination and self-correction should be carried out seriously. For deposit products that do not comply with relevant policies and regulations and the provisions of the self-discipline mechanism, the advertising should be stopped immediately. Second, several key tasks should be done well. The pricing mechanism of local corporate financial institutions should be strengthened, differentiated housing credit policies should be unceasingly implemented, and financing costs for private and small and micro businesses should be effectively reduced. Third, the self-development of the joint meetings should be further strengthened to give better play to the role of the self-discipline mechanism. The leading agency and core members of the self-discipline joint conference should play a leading role in regulating the operation of deposit products to ensure that they do not violate the interest rate policy and the agreement of the self-discipline mechanism. Regularly or irregularly they should hold meetings or organize activities to enhance communication on interest rate pricing among members and carry out research on interest rate self-regulation and pricing, making suggestions for interest rate liberalization reform and self-regulation.