PBOC October 2013 LPR
Central bank: pboc | Type: decision | Date: 2013-10-20

People's Bank of China Loan Prime Rate Announcement - October 2013 LPR

The People's Bank of China announced the Loan Prime Rate (LPR) on 2013-10-20.

The LPR serves as the benchmark lending rate for banks' loan pricing. It is quoted by designated commercial banks and published by the National Interbank Funding Center on the 20th of each month.

The LPR mechanism was reformed in August 2019 to better reflect market interest rates and improve monetary policy transmission. The rate is determined based on the medium-term lending facility (MLF) rate plus a spread.