Central bank adhere to prudent monetary policy to create a suitable environment for reducing leverag-1256789

By , April 19, 2018 3:18 am

Central bank: prudent monetary policy for reducing leverage to create a suitable vice president of new network environment in the new network in October 10, the people’s Bank of China Fan Yifei said today that if too loose, will cause the scale of the whole society debt continues to rise at a high level, it is difficult to achieve drop lever. Monetary policy will continue to adhere to the basic orientation of sound, to maintain a flexible and appropriate, timely fine-tuning, to reduce leverage to create a suitable monetary policy environment. The State Council recently issued the opinions on actively and steadily reduce the leverage of enterprises (hereinafter referred to as the opinions), to actively and steadily reduce the leverage of enterprises to deploy. Today, the State Council held a press conference to introduce the situation. A reporter asked how to create a favorable monetary policy environment to reduce leverage? Reducing leverage and debt to equity swap will affect monetary credit and social financing scale, the central bank will make what arrangements?" Fan Yifei said that in the process of reducing the need for appropriate monetary policy environment. In order to actively and steadily achieve the goal of reducing leverage, monetary policy should be moderate. If too loose, will cause the whole community’s debt size continues to rise in high, it is difficult to reduce leverage. If too tight and may make a reasonable range of economic growth slide out, also not conducive to reducing leverage. Therefore, monetary policy will continue to adhere to the basic orientation of sound, to maintain a flexible and appropriate, timely fine-tuning, to reduce leverage to create a suitable monetary policy environment. Fan Yifei introduced, reducing leverage in the process, the market debt implementation of mergers and acquisitions, including banking, increase efforts to deal with non-performing assets, are likely to reduce the stock of credit and social financing, credit and social financing scale growth rate decreased and lower than expected. If and to measure than view using the method of restoration, that is to say in the calculation of monetary and credit growth, the debt, debt reduction is considered part of cleaning, will see the growth of money supply and credit growth and social financing scale growth will remain basically unchanged. Fan Yifei said that the development of equity financing will certainly not increase in reasonable credit conditions, increase the total amount of social financing, but to see the amount of change at the same time, along with the growth of equity financing, will be more social financing structure optimization. We also need to further improve the scale of social financing, in order to more accurately reflect the total and structural changes. Fan Yifei stressed that we should also see that because of the debt structure, revitalize the stock of assets, will improve the efficiency of the use of financial resources, accelerate the speed of currency circulation, in fact the relatively slow monetary credit and social financing scale growth, but also to meet the financing needs of the real economy. Fan Yifei said, we in the formulation and implementation of macro Prudential policy, the total control of money supply and credit, will give full consideration to the needs and the influence of reducing leverage, is to create the necessary space for monetary policy and reduced leverage, and comparable perspective to measure the currency credit change by reduction method, more accurate grasp of monetary and credit control intensity and rhythm.相关的主题文章:

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