BEIJING (Reuters) – China’s central bank said on Wednesday it will change the time it releases the monthly fixing of the loan prime rate (LPR) to 9:15 a.m. from 9:30 a.m. local time on the 20th of each month.
The change will take effect from Jan. 20, it said in a statement.
The central bank will add Bank of Nanjing and Postal Savings Bank of China to the list of 18 banks that set the LPR, replacing Bank of Xi’an and China CITIC Bank, respectively.
The LPR is set monthly by the banks, which submit a quotation by adding a premium over the medium-term lending (MLF) rate.
(Reporting by Beijing newsroom; Editing by Andrew Heavens and Bernadette Baum)
