The P2P industry will be fully integrated into the credit information system.
In order to further establish and improve the credit reporting system and enhance the deterrence of policy, the first financial reporter learned that the leading group of the Internet financial risk regulation work, the leading group of the network lending risk regulation work (hereinafter referred to as “the two groups”) issued a notice on September 2, requiring the P2P network lending institutions to access the credit reporting system. 。
The notice is divided into four parts, focusing on three aspects: access to credit information system by private P2P network lending institutions, crackdown on the withdrawn P2P network lending institutions’debt evasion behavior, and increasing the punishment for the dishonest in the field of network lending.
The credit reporting system mentioned in the notice includes: the operation organization of the basic database of financial credit information, the credit reporting organization of Baihang, etc. (hereinafter referred to as “two credit reporting institutions”). Reporters learned that the main financial institutions accessing the basic database of financial credit information are banks, while those accessing Baihang Credit Reporting are P2P. In the future, with the continuous development of the two credit repositories, information will be constantly integrated, and the two credit repositories will cooperate and share information.
A person close to Mutual Fund Regulation said to the First Financial Journalist that the significance of the construction of credit information system in the field of online lending lies in three aspects: first, it is conducive to the self-operation of online lending institutions; second, it is conducive to the overall risk prevention in the field of online lending; third, it is conducive to the protection of borrowers themselves and the establishment of a correct credit information system. The cultivation of concept and credit consciousness.
If the interest rate exceeds 36%, non-repayment will not be included in credit reporting.
People close to Mutual Fund Regulation said to First Finance and Economics that Internet lending institutions have an urgent demand for access to credit information system, which is essential to improve the overall ability of wind control and safety compliance of institutions.
On September 2, the two groups issued the Notice on Strengthening the Construction of Credit Reporting System in the Field of P2P Network Credit (hereinafter referred to as the Notice), requiring local organizations to access the two credit repositories.
“Understanding the borrower’s credit account is the most basic consideration for the wind control of online lending institutions, requiring all online lending institutions to join the credit information system, but also to provide a grasp for the industry operation risk control. In addition, because the bank can not see the data of online lending at present, we should take into account the risks in the field of online lending for the sake of risk prevention of the banking system. The aforementioned dealers of mutual fund consolidation told reporters.
It is noteworthy that the Notice specifically regulates interest rates. It is required that P2P online lending institutions collect and submit relevant credit information in accordance with the law and regulations, and provide interest rate information of online lending transactions to the two credit agencies. If the interest rate exceeds the lending rate supported by the People’s Court in the Provisions of the Supreme People’s Court on Several Questions Concerning the Law Applicable to the Trial of Private Lending Cases, the information subject shall have the right to raise objections to two credit agencies or P2P network lending institutions in accordance with the Regulations on the Administration of Credit Reporting Industry and request correction.
In fact, in order to urge P2P “Lao Liang” to repay as soon as possible, as early as last year, Mutual Fund Rectification Office issued “Notice on Reporting Information on Borrowers’Evasion of Debts on P2P Platform” and “Notice on Further Punishing Work Related to Credit Breaking in the Internet Credit Industry”, so that all parts of the country could report information on the evasion of debts and make it clear that the creditors who have lost their credits on the Credit Entry System.
“Since the launch of business last year, it is true that many online lending platforms have high interest rates and irregularities, and there have been complaints from investors.” A Baixing Credit Reporter told reporters that the organization should ensure the accuracy of the data submitted and meet the requirements. If more than 36% of the red line, users will verify the complaint and punish the corresponding online lending institutions. “For more than 36% of the loans, the borrower can not pay back the money, and this part is not included in the credit investigation.”
According to the First Financial and Economic Journalist, the Circular requires the two credit agencies to collect, collate, preserve, process and provide credit information in accordance with the law, take reasonable measures to ensure the accuracy of information and the security of information systems, establish an abnormal inquiry and compliance monitoring system, and suspend in time when information security incidents occur. Query service.
Li Aijun, Dean of the Internet Finance Law Institute of China University of Political Science and Law, told First Finance and Economics that “Notice” is a major benefit for the online lending industry. It can reduce the cost of wind control and solve the problem of debt evasion.
“Credit collection can invisibly restrain moral hazard, that is to say, as long as the borrower has solvency, it will improve the willingness of the borrower to pay debts when it is incorporated into the credit collection system. Therefore, as long as the platform wants to continue to operate, or has the will to quit benignly, it will certainly want to access the credit information system. Li Aijun said.
Up to now, there are 402 access service protocols, more than 200 training access agencies and 101 data reporting agencies in Baihang Credit Reporting Company. Its credit information system includes 63.3 million individuals and 100 million credit accounts, covering 18 types of institutions, such as city commercial banks, agricultural commercial banks, etc. from five types of institutions such as P2P and small loan companies at the end of 2018.
“Debt evasion” is nowhere to hide
Since last year, the risk of P2P platform has been frequent, and the increase of malicious debt evasion by borrowers has brought impact to the safe operation of the platform, as well as many troubles to the regulation and rectification of mutual funds.
In order to strengthen the punishment of dishonesty, last year, the supervision brought the information of top managers who lost links or ran away from the dangerous platforms into the credit information system. On this basis, the “Notice” clearly defines the criteria for screening the list of dishonest people, and further refines the crackdown on debt evasion.
Specifically, the criteria for screening dishonest persons include: 1. the first is that the enterprise borrower and the individual borrower have a larger amount of money (which should deduct more than 24% of the interest); 2. the second is that the enterprise borrower and the individual borrower have a longer overdue time; 3. legally and necessary collection has been carried out; 4. the actual controller of the lost and runaway P2P network lending institutions. And senior management. The screening criteria can also be formulated according to the actual situation of the region.
“Notice” requires that relevant departments around the country should organize a review of the list of dishonest, inform the dishonest through various means, clear the repayment path, and give a certain grace period for repayment. After the grace period is over, the designated departments shall affix official seals to the list of the discredited persons and transmit them to the above two credit bureaus.
Since last year, the phenomenon of debt evasion has become common in the mutual fund industry, with a number of repayments who evade debt maliciously and a platform for malicious bankruptcy. Some borrowers even have the “wait for the platform to die, do not have to pay back” mentality of luck.
The above-mentioned mutual fund regulators made it clear to First Finance and Economics that the online lending institutions and the two credit agencies dock data, even if the institutions withdraw in the future, but the data is still there, borrowers still need to repay. “We will give full play to the punishment of social dishonesty. Including inter-departmental information transfer, it will also play a certain role in restraining the social behavior of dishonest people.
According to the circular, all localities are encouraged to establish a joint punishment mechanism across departments according to law, strengthen social punishment for dishonest acts, and form a common governance pattern of government departments, industry organizations, self-discipline management and extensive supervision by public opinion.
“If not included in the credit information system, after the platform withdraws, the debtor also withdraws, which also leads to many malicious debtors intentionally create incidents in order not to repay their debts. Internet lending platform access to credit information system will also force online lending institutions to borrower end customers of high quality. Li Aijun told reporters that “Notice” has played a role in guaranteeing the benign withdrawal of the entire online lending platform and social stability.
“At present, malicious borrowers in the network lending industry do not fulfill their obligations to repay debts when they withdraw from the platform, and even intentionally create incidents to force the platform to withdraw so as to achieve their malignant purposes. Internet lending platform access to credit information system will also force borrowers to improve the quality of customers. Li Aijun believes that “Notice” is conducive to the protection of the lenders’rights and interests of the online lending platform, and plays a role in guaranteeing the benign withdrawal of the entire online lending platform and social stability. At present, the phenomenon of debt evasion in the network lending industry is serious. Incorporating the credit information system is conducive to restraining the occurrence of debt evasion, because the credit information system has deterrent effect on borrowers.
Li Aijun also said that the occurrence of malicious debt evasion is rampant, which will not only induce the entire online lending industry to avoid debt, but also lead to other industries or fields to follow suit, thus contributing to the trend of social dishonesty. “The greatest significance of incorporating the two credit information systems is conducive to the construction of a country’s honest society, because once the credibility is broken, it will affect daily life.”
In addition, the first financial reporter learned that in the information docking, the two credit information systems have made some arrangements in the early stage, but the system through a complex process, after which the two credit agencies will issue rules and operational guidelines on the access system of online credit platform.