Bank of China Ltd (BOC) will grant new yuan loans according to capital adequacy rate and other indicators as the central government has repealed the national credit line, National Business Daily reported Tuesday, citing Xiao Gang, chairman of BOC.

Related readings:  CBRC to focus on credit, liquidity  PBOC to keep credit, capital levels in check  14% credit growth predicted for 2011

Commercial banks will set their own loan scales according to the capital adequacy rate, operating status, loan and deposit ratio and the government's macroeconomic policies, said Xiao.

In addition, the report also said that BOC will grant approximately 420 billion yuan in new loans this year, bringing the banker's total credit up 10 percent year-on-year.

The bank's newly added loans were slightly higher than 600 billion yuan in 2010, the newspaper added.

After last year's multi-billion-dollar capital raising maneuver, BOC has no refinancing plans for this year, it said.