We believe that the net interest margin (NIM) would be slightly reduced if the banks transfer their funds from the inter-bank market (reduced by 0.1%), investment securities (by 0.16%) and loans to the Central Bank (0.4%) respectively.

• 如果商业银行将资金从同业拆借市场、债券投资和贷款转移至央行，那么净息差将分别小幅降低0.；1%25、0