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20-11 Nominal Interest Rates on Loans of Financial Institutions (annual interest rate %) Item 1997.10.23 1998.3.25 1998.7.1 1998.12.7 1999.6.10 2002.2.21 2004.10.29 Oct. 23,1997 Mar. 25,1998 Jul. 1, 1998 Dec. 7, 1998 Jun. 10,1999 Feb.21,2002 Oct. 29,2004 Short-term 6 Months 7.65¢Ù 7.02¢Ù 6.57¢Ú 6.12¢Ú 5.58¢Û 5.04¢Û 5.22 1 Year 8.64¢Ù 7.92¢Ù 6.93¢Ú 6.39¢Ú 5.85¢Û 5.31¢Û 5.58 Medium-and Long-term 3 Years or Less 9.36 9.00 7.11¢Ú 6.66¢Ú 5.94¢Û 5.49¢Û 5.76 5 Years or Less 9.90 9.72 7.65¢Ú 7.2¢Ú 6.03¢Û 5.58¢Û 5.85 More than 5 Years 10.53 10.35 8.01¢Ú 7.56¢Ú 6.21¢Û 5.76¢Û 6.12 a) ① The lending rate could be 10% higher or 10% lower than nominal interest rates; for rural credit cooperatives, the lending rate could be 40% higher or 10% lower than nominal interest rates. b) ② As of November 1998, the lending rate for small-sized enterprises could be 20% higher than nominal interest rates, and the lending rate for medium and large-sized enterprises could be 10% higher than nominal interest rates. For all financial institutions, the lending rate could be 10% lower than nominal interest rates, while, for rural credit cooperatives, the lending rate could be 50% higher than nominal interest rates. c) ③ As of September 1999, the lending rate for medium and small-sized enterprises could be 30% higher than nominal interest rates; for large-sized enterprises, the lending rate could be as much as 10% higher than nominal interest rates. For all financial institutions, the lending rate could be 10% lower than nominal interest rates.

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