Chronology: PBOC 2015

Announced 6/29/15
(link)

Cut targeted required reserve ratio for selected financial institutions including a 0.50pp reduction for certain commercial and foreign-funded banks and a 3.0pp reduction for finance companies; cut the one-year RMB benchmark loan and deposit interest rates for financial institutions by 0.25pp to 4.85% and 2.00%, respectively.

Announced 5/13/15
(link)

Cut the one-year RMB benchmark loan and deposit interest rates for financial institutions by 0.25pp to 5.10% and 2.25%, respectively; raised the upper limit of the floating range for deposit interest rates from 1.3 to 1.5 times the benchmark level.

Announced 4/21/15
(link)

Cut the RMB reserve requirement ratio for all depository financial institutions by 1pp, with an additional 0.50pp for certain banks, an additional 1pp for certain rural financial institutions, and an additional 2pp for the Agricultural Development Bank of China.

Announced 3/2/15
(link)

Cut the one-year RMB benchmark loan and deposit interest rates for financial institutions by 0.25pp to 5.35% and 2.50%, respectively; increased upper limit of the floating range for deposit interest rates from 1.2 to 1.3 times the benchmark level

Announced 2/5/15
(link)

Cut the RMB deposit required reserve ratio for financial institutions by 0.50pp, with an additional 0.50pp for certain commercial banks, and an additional 4pp for the Agricultural Development Bank of China.

Announced 11/24/14
(link)

Cut the one-year RMB benchmark loan interest rate and deposit interest rate by 0.40pp to 5.60% and by 0.25pp to 2.75%, respectively; increased upper limit of the floating range for deposit interest rates from 1.1 to 1.2 times the benchmark level.