Loan Pricing In The Rate Of Institutional Change Research

After the market-oriented interest rate was adopted, the domestic commercial banks will directly face the problem of independent lending pricing. Based on the exploration of lending pricing behaviors of banks during the historic process of the interest rate system reform, the paper mainly discusses the genesis mechanism of lending price and the interrelated implicit interest rate under the condition of financial regulation, analyses the external and internal factors which influence the lending pricing decision-making process of the microeconomic bodies (banks and enterprises). And based on the contrast of the lending pricing modes which are popular at home and abroad now, the paper designs a lending pricing model of compound interest rate, which can be applied to the market-oriented interest rate circumstance.The paper holds that, the rent-seeking phenomena of banks during lending, which are popular during the economic transition period, have their own sources on systems and institutions. The dualism of finance caused by financial regulation, the system disfigurements and institutional defects during the economic transition period, and the lack of the internal supervision and stimulus derived from the imperfection of the corporation governance structures of economic bodies, offer enough rent for banks' rent-seeking behaviors. The economic result is that, implicit interest rate forms in the market. Implicit interest rate is the result of both the government intervention and banks' behaviors of deciding the lending price according to the rules of the market. It reflects that under the condition when interest rate is restrained, the self-adjust system of lending price still exists, although it is distorted by the restraint sometimes.But only explaining phenomena is quite inadequate, we still must find out the motives of microeconomic bodies from those phenomena. Imperfect information aggravates credit ration. At the same time, the pluralism of banks' portfolio, enterprises' net possession, estate institutions,debt-equity structure, and even the stabilization of macroeconomic circumstance, all give very important influence on banks' lending pricing behaviors. And all these have been detailed proved in the main body of this paper.Of course, if theory could not direct practice, then it is theory's faults. In order to make the research of this paper more practicable, the paper combines the actual situation of market-oriented interest rate of China, compares and analyses the Base Leading Rate Affixation Model, the Cost Plus Pricing Model, and the Customer Profitability Analysis Model, which are all very popular abroad. Based on this, and according to the basic principles of lending pricing, the paper introduces the concept of loan-term compound interest, and constructs a lending pricing model on "the mobile choice between cost and market price", which is practicable under the condition of market-oriented interest rate. The model, which is based on the fully consideration of both lending management cost and the market interest rate level, particularly solves the problem of the fix quantity estimate of lending deadline risks. Compared with the simple-interest model, which many commercial banks are studying now, this model can reflect the tendency of market interest rate more precisely. So it is more appropriate in practice to the actual situation of the capital market of China nowadays.