Interpretation of the authority of China Banking and Insurance Regulatory Commission: issues related to housing loans, mutual assistance on the Internet, Internet antitrust, etc

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Author: Du Chuan
What is the impact of the new rules on mortgage loans? How to supervise internet mutual aid? Does the implementation of anti-monopoly measures on Internet platforms affect the normal development of enterprises? Will non performing loans increase further?
On January 22, Liang Tao, vice chairman of the CIRC, and Xiao Yuanqi, chief risk officer and spokesman of the CIRC, responded to the above questions at a press conference held by the Information Office of the State Council.
The new rules on housing loans are not entirely new and have little impact on mortgage loans
Xiao Yuanqi said at a news conference held by the Information Office of the State Council, “the” establishment of a management system for the concentration of real estate loans of banking financial institutions “has little impact on mortgage loans. Mortgage loans are very scattered, and the scale and scope have little impact on the concentration.”
On December 31, the people’s Bank of China and the China Banking and Insurance Regulatory Commission (CIRC) issued the notice on establishing the management system of real estate loan concentration of banking financial institutions, establishing the management system of real estate loan concentration of banking financial institutions, which will be implemented from January 1, 2021.
The so-called real estate loan concentration management system means that the proportion of the balance of real estate loans and the proportion of the balance of individual housing loans of Chinese legal person banking financial institutions established in China should meet the management requirements determined by the people’s Bank of China and the China Banking and Insurance Regulatory Commission, that is, it should not be higher than the corresponding upper limit determined by the people’s Bank of China and the China Banking and Insurance Regulatory Commission.
Xiao Yuanqi pointed out that the supervision of concentration is not only for the real estate industry. From the perspective of bank counterparties, there have been regulations on the supervision of concentration in all industries and enterprises. This concentration is related to the exposure of risk assets and net capital, and is no exception to the real estate industry. It follows the requirement of unified concentration.
Xiao Yuanqi said that the concentration management system is not entirely new. In the past, concentration management has always existed. In the future, according to the regulations, banks will closely supervise the financing of real estate to ensure the stability and order of real estate financing.
Since 2020, the CIRC has taken forward-looking measures to prevent risks and planned ahead for risks in key areas. Especially in the field of real estate, we should establish a comprehensive and comprehensive statistical system of real estate financing.
“If the amount of real estate risk exposure exceeds a certain proportion of net capital, relevant measures must be taken. At the same time, we also pay close attention to the changes of housing prices in different regions and cities. Due to the implementation of policies in different cities, we take corresponding measures together with other departments and local governments. These measures are dynamic and can be adjusted at any time according to the situation of different places. ” Xiao Yuanqi stressed.
Meituan mutual aid deviates from its main business and will pay more attention to online mutual aid
In recent years, the network mutual aid platform has developed rapidly, which has the characteristics of commercial insurance in essence, but at present, there is no clear regulatory body and regulatory standards, so it is in the embarrassing situation of no supervision.
Recently, meituan announced to shut down internet mutual aid, which has aroused great concern. How will the regulatory authorities supervise the internet mutual aid?
Xiao Yuanqi said that meituan mutual aid did issue an announcement on the afternoon of January 15, announcing the formal closure of mutual aid business on January 31. Some time ago, baidu also announced the closure of its mutual aid platform, we are more concerned.
Xiao Yuanqi said, “we feel that the main reasons for the closure of meituan mutual aid are that meituan mutual aid deviates from its main business, and the risk of adverse selection is increasing. In the next step, we will pay more attention to the network mutual aid of network companies, understand its operation mode, analyze its risk situation, and take corresponding measures.”
The implementation of anti-monopoly measures on the Internet platform is not aimed at a certain enterprise
According to market reports, after the government departments and regulatory agencies implemented anti-monopoly measures on Internet platform enterprises, banks began to be reluctant to lend to private enterprises in related fields.
“There are indeed individual cases. We believe that this is not in line with the basic spirit of” two unswervingly “and should be corrected. The CIRC encourages bancassurance institutions to cooperate with Internet platform enterprises, including the enterprises to be interviewed, in accordance with the law, and the financial support policies remain unchanged and the intensity remains unchanged. ” Liang Tao said.
Recently, the financial management department interviewed some Internet platform enterprises such as ant group, pointing out that they have played an innovative role in developing financial technology, improving the efficiency and inclusiveness of financial services, and improving the efficiency and inclusiveness of financial services. However, it also points out the problems of illegal regulation arbitrage, monopoly operation and damage to the legitimate rights and interests of consumers.
Liang Tao said that in accordance with the basic requirements of “strengthening anti-monopoly and preventing disorderly expansion of capital”, financial management departments have taken normative measures and carried out rectification. These measures are in line with the law of market economy development and the requirements of the rule of law, such as anti-monopoly and anti unfair competition. They are in line with the fundamental interests of the people and all kinds of market subjects, and are completely consistent with the goal of supporting the long-term stable and healthy development of private enterprises. Of course, the relevant measures are not aimed at private enterprises or a certain enterprise, and will not affect the normal business development of relevant enterprises.
Liang Tao pointed out that we have noticed that some Internet platform enterprises have a positive attitude towards rectification after being interviewed, and have achieved initial results. We believe that through their own rectification norms, Internet platform enterprises will stick to the origin of serving the real economy and the people, maintain the market awareness of fair competition, and keep innovation on the premise of serving the real economy and complying with prudent supervision, It has become an important force to support national economic development and boost domestic and international double circulation.
Potential non-performing loans are likely to increase. There are tests and plans
Data show that in 2020, the banking industry will dispose of 3.02 trillion yuan of non-performing assets. By the end of 2020, the balance of non-performing loans was 3.5 trillion yuan, an increase of 281.6 billion yuan over the beginning of the year; the non-performing loan ratio was 1.92%, a decrease of 0.06 percentage point over the beginning of the year; the proportion of loans overdue for more than 90 days and non-performing loans was 76%, a decrease of 5.1 percentage point over the beginning of the year. The overall liquidity of Bancassurance institutions remained stable, the liquidity coverage rate of commercial banks was 146.5%, and the cash flow from operating activities of insurance companies increased by 106.5% on a year-on-year basis.

Xiao Yuan said, from a numerical point of view, the ratio of non-performing loans in 2020 also dropped by 0.06 percentage points, for many reasons. First, banks were required to strengthen risk management and control, and strengthen three loan checks (pre loan investigation, loan review, post loan inspection). We should strictly guard against risks and guard against risks. Two, we should strengthen the disposition of non-performing loans, and disposed of 3 trillion and 20 billion yuan of non-performing assets in 2020. Third, the economic growth in 2020 exceeded expectations, with an economic growth of 2.3%, creating a good foundation for the non-performing loans of banks not to rebound sharply.
“However, no matter what, the supervision is to observe this problem from a prudent perspective. We must see that the situation of non-performing loans of banks in the future is still relatively severe, and the potential non-performing loans may increase. We have conducted stress tests and made corresponding plans.” Xiao Yuanqi stressed.