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贷款利率和政策利率的点差在收窄(%)
贷款利率和政策利率的点差在收窄(%)
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所属报告:
银行行业深度报告:解析LPR脱钩MLF:推动FTP并轨重塑资产比价-241028(22页).pdf
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成本加成定价法下,贷款利率=资金成本+管理费用+信用成本+资本成本+目标溢价。过去,不市场化的 LPR 加点后形成了不市场化的 FTP,那么 FTP 作为资金成本影响外部定价的能力就被削弱。未来政策利率的调整可能直接影响到贷款内部成本,对降低实体融资成本有帮助,贷款价格战竞争意义不大,银行需要更多通过夯实客群、调整结构的方式稳定收息水平。
政策法规
原图定位
当前图表所属:
银行行业深度报告:解析LPR脱钩MLF:推动FTP并轨重塑资产比价-241028(22页).pdf
2026年银行利率改革行业报告:LPR脱钩MLF重塑资产比价,10Y国债利率下限1.84%分析
受益标的一览
对各类资产业务设置差异化FTP后的大类资产比价
商业银行大类资产比价:按揭贷款、利率债、债基比价效应较强
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