LPR (Loan Prime Rate) is the commercial banks loan rate providing to their best customers.cm-right  The  other loan rates are based on it. The LPR centralized quote and publish mechanism is based on the best loan rate quotations of commercial banks. The authorized publisher  calculates  weighted  average interest rate, and publishes the LPR average rate. Currently, the LPR publishes 1-year maturity.

Now the quotation group of LPR consists of 10 commercial banks. The panel banks should meet the requirements of financial restricted conditions and macro prudential policy framework, have high systematically important, foundation impact in the market, and stronger comprehensive strength, established well internal yield curve and FTP mechanism, have stronger ability of  independent  pricing, established measures on managing LPR. Self-regulatory Mechanism of Market Interest Rate Pricing decides and adjusts the panel banks, supervises and administrates the LPR operation, and regulates the behavior of the panel banks and the authorized publisher in accordance with Code of conduct.

National Interbank Funding Center is the authorized publisher of LPR. At 11:30AM (Beijing Time)   each business day, LPR average rate will be published after weighted averaging all the quotations of the panel banks, with the highest and lowest quotations excluded.