Fabric Products,Fabric Information,Fabric Factories,Fabric Suppliers Fabric News 600D Oxford cloth: The central bank canceled late payment fees on credit cards yesterday and implemented a cap on overdraft interest rates

600D Oxford cloth: The central bank canceled late payment fees on credit cards yesterday and implemented a cap on overdraft interest rates



The People’s Bank of China issued the “Notice on Matters Related to Credit Card Business” on the 15th. Effective from January 1, 2017, the current unified regulations will be cancelled. Accord…

The People’s Bank of China issued the “Notice on Matters Related to Credit Card Business” on the 15th. Effective from January 1, 2017, the current unified regulations will be cancelled. According to the credit card overdraft interest rate standard, the upper limit and lower limit range management of overdraft interest rate is implemented. The upper limit is the current overdraft interest rate standard daily interest rate of 5/10,000, and the lower limit is 30% lower than the daily interest rate of 0.5/10,000. 【600D Oxford cloth

The relevant person in charge of the People’s Bank of China stated that a cap will be set on credit card interest rates and lower limit, fully implementing market pricing when the time is ripe will help card issuers accumulate pricing data and experience during the transition period. The credit card risk control and pricing capabilities of each card issuer are uneven, and providing upper and lower interest rate guidance will help prevent individual card issuers from blindly engaging in price wars. In addition, when the information disclosure mechanism needs to be strengthened, setting an upper limit on overdraft interest rates will help prevent individual card issuers from unreasonably charging excessive interest. 【300D Oxford cloth

Notice canceling the interest-free repayment period for overdraft consumption The current regulations on long term, minimum repayment amount and additional conditions shall be determined independently by the card issuer based on commercial principles and cardholder needs; late payment fees shall be cancelled, and liquidated damages shall be agreed upon by the card issuer and cardholder; over-limit fees shall be cancelled, and Provides that card issuers shall not charge interest on service fees. 【210D Oxford cloth

The current “Bank Card Business Management Measures” stipulates that credit cards are interest-free The maximum repayment period is 60 days, and the minimum repayment amount in the first month shall not be less than 10% of the overdraft balance of the month. The relevant person in charge of the People’s Bank of China stated that the lifting of the above restrictions is intended to give card issuers more room for independent decision-making, allowing them to flexibly combine interest-free repayment periods and minimum repayment amounts according to their own business strategies and cardholders’ risk levels, providing cardholders with People are provided with diverse choices. The notice improves the cash advance business limit system and increases the limit for cardholders to handle credit card cash withdrawals through ATMs from the current daily cumulative limit of 2,000 yuan per card to 10,000 yuan. 【420D Oxford cloth

Suzhou Textile—tent fabrics, luggage fabrics, stroller fabrics Waiting for Oxford cloth manufacturers: www.wcxfz.com

</p

This article is from the Internet, does not represent Composite Fabric,bonded Fabric,Lamination Fabric position, reproduced please specify the source.https://www.tradetextile.com/archives/20829

Author: clsrich

 
Back to top
Home
News
Product
Application
Search