PBC Seeks Comments on Administrative Provisions on Renminbi Deposit and Loan Rates

The People's Bank of China (PBC) has revised and formulated the Administrative Provisions on Renminbi Deposit and Loan Rates (Draft for Comment) (the "Draft") to solicit public opinions by July 5, 2026.

The Draft, consisting of 29 articles in four chapters, covers the scope of application, rules for interest accrual and settlement on deposits and loans, interest rate conversion methods and interest calculation formulas, and the duties to be undertaken by the PBC, its branches, and financial institutions. The main revisions involve: (1) focusing specifically on the administration of renminbi deposit and loan rates; (2) clarifying the respective responsibilities of the PBC and financial institutions with respect to deposit and loan rates; (3) consolidating rules on interest accrual and settlement for various types of deposits and loans that are currently scattered across other regulations and regulatory documents; and (4) revising the provisions that are of great market concern. Notably, the Draft specifies that administrative controls of deposit and loan rates have been fully lifted, and that deposit and loan rates will be determined independently by financial institutions pursuant to relevant rules of the PBC and commercial principles.



(Source: https://www.pbc.gov.cn/tiaofasi/144941/144979/3941920/2026060516414280672/index.html)

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