While the U.S. Federal Reserve announced a two-digit interest rate cut, Taiwan's central bank decided at the meeting to keep interest rates unchanged and raise the interest rate by one notch. However, the most severe housing crackdown measures in history have been implemented, and we will focus on this once. (Preliminary summary: Super central bank debuts this week! The market predicts a drop of 1 and 2 in five to five waves. Can Bitcoin stand firm at US$60,000?) (Background supplement: Taiwan’s central bank will announce another housing crackdown in September! Experts: Second-rate housing The "60% loan limit" may be extended to the whole of Taiwan) Today (19th), the US Federal Reserve announced the start of interest rate cuts in the early morning, lowering the benchmark interest rate by 0.5% (2 yards) to 4.75% to 5%. On the same day, the Central Bank of Taiwan held its first meeting The third quarter Board of Supervisors meeting decided to keep the policy interest rate unchanged for two consecutive years, but raised the bank deposit reserve ratio by 1 point (0.25 percentage points). What is the impact of bank RRR hikes? Previously, Yang Jinlong, the president of the central bank, said that raising the reserve requirement ratio by 1 point can recover more than 120 billion yuan of market funds. With interest rates frozen, the central bank's move not only suppressed demand in the housing market in disguise, but also put pressure on banks to prepare more cash on hand to meet their previous goal of providing loans to first-time homebuyers. The rediscount rate remains at 2% per annum, the guaranteed lending and financing interest rates remain at 2.375%, and the short-term financing interest rates remain at 4.25%. Raising the reserve requirement ratio (increasing the deposit reserve ratio) means that the central bank requires commercial banks to increase a certain proportion of their deposits to be deposited with the central bank as Reserve Measures. To put it simply, if the price rises on time, the funds available to banks will decrease, and the liquidity in the market will decrease, which will increase the cost and difficulty of borrowing money, increase the cost and difficulty of investing in real estate, and in disguise suppress the demand for the housing market. The central bank launched its seventh wave of prevention and control measures. At the same time, the central bank also launched its seventh wave of housing market controls today. President Yang Jinlong said that Taiwan’s housing market has been overheated. In order to further curb speculation and housing hoarding in the housing market, the central bank of Taiwan revised the "real estate mortgage loan business regulations" ”, which will take effect from September 20, 2024. The main points of the amendments are as follows: There shall be no grace period for the first home purchase loan: If a natural person already has a house in his name, his first home purchase loan shall not be entitled to a grace period. The loan percentage for the second household to purchase a house is reduced to 50%: The maximum percentage of the loan for the second household of a natural person to purchase a house is reduced from 60% to 50%, and is extended to the whole country. The loan ratios for legal persons and high-priced residences have been reduced: the loan ratios for house purchase loans for corporate entities and for natural persons to purchase high-priced residences have been reduced from 40% to 30%. The loan percentage for surplus housing is lowered to 30%: the maximum loan percentage for surplus housing is reduced from 40% to 30%. Image source: Central Bank Real estate industry players are complaining about the central bank’s new system. Experts say this is the most severe housing crackdown in history. Lai Zhengyi, chairman of Xianglin Group, pointed out: There is no grace period for loans to buy the first house. Do banks need to temporarily change the loan contract with the borrower? As for the maximum loan percentage for the second home purchase of a natural person, it has gone from 70% in the sixth capital to only 60% in the seventh capital. Now it will be reduced to 50%, and it applies to all Taiwan. He has heard from people who are changing their houses. What should people who are wailing and have signed a contract to buy a new house and prepare to change their house do? If they can't come up with more cash to provide for themselves, should they be asked to terminate the contract with the builder? Who has to pay liquidated damages? According to the latest real-price registration data, the average unit price of residential properties in the seven major urban areas has increased by more than 5% in the nine months since the launch of Xinqing'an. Among them, the unit price in Hsinchu County and City increased by 11.2% and the total price increased by 10.4%. It is the hottest area in the housing market after the implementation of the new Qing'an, but it also makes it even more unaffordable to buy a house. Whether the central bank's most stringent preventive measures, which will be implemented on September 20, can successfully suppress overheating housing prices deserves our continued attention. Related reports Super Central Bank Week debuts! The market predicts that the price will drop by 1 or 2 yards in five or five waves. Can Bitcoin stand firm at $60,000? Taiwan’s central bank will announce another housing crackdown in September! Expert: The "60% loan limit" for second-home buyers may be extended to the whole Taiwan. The central bank rescues the mortgage loan and cut-off crisis. The second-home control may be extended to the whole Taiwan in September. Yang Jinlong: Banks must satisfy first-time buyers. "The most severe housing crackdown in history is coming!" Yang Jinlong made four moves to hit investors hard. The central bank froze interest rates twice in a row and raised the interest rate by one yard. This article was first published in BlockTempo's "Dong District Dongzhi - the most influential blockchain news media".