Central Bank Shanghai Headquarters: Adjusting the Interest Rate Pricing Mechanism for Commercial Personal Housing Loans in Shanghai

On August 25th, the Shanghai headquarters of the central bank issued a notice saying that in accordance with the provisions of the People's Bank of China on the interest rate policy of commercial personal housing loans and the regulation and control requirements of the Shanghai municipal government, the interest rate pricing mechanism of commercial personal housing loans in Shanghai is now adjusted. The relevant matters are as follows: 1. In terms of interest rate pricing mechanism arrangements, the interest rate of commercial personal housing loans in Shanghai no longer distinguishes between first and second homes. 2. According to the Shanghai real estate market situation and the regulation and control requirements of the Shanghai municipal government, the Shanghai market interest rate pricing self-discipline mechanism guides the banking Financial Institution Group to do a good job in implementation, standardize market competition behavior, and maintain market order. 3. The Banking Financial Institution Group shall reasonably determine the specific interest rate level of each loan according to the operating conditions of the institution, the risk status of customers and other factors. Fourth, the Banking Financial Institution Group shall earnestly do a good job in policy publicity, interpretation and consulting services, protect the borrower's contractual rights and the legitimate rights and interests of consumers in compliance with the law, and ensure the smooth and orderly progress of relevant work.