On June 5438+ 10, 2009, the CBRC issued the Notice on Adjusting Some Credit Supervision Policies to Promote Stable Economic Development (No.3 [2009]), allowing banking financial institutions to issue bridge loan to the sponsors or shareholders of unproductive projects within a certain amount.
On may 2010/7, CBRC issued the notice on regulating the bridge loan of banking financial institutions (No.35 [20 10]) to regulate the issuance of bridge loan by banking financial institutions:
1. Banking financial institutions are prohibited from issuing bridge loan with the following properties or uses:
1. bridge loan of project capital issued by banking financial institutions to project sponsors or shareholders;
2. Banking financial institutions issue bridge loan to borrowers with financial funds (including investment funds in the central budget arranged by the National Development and Reform Commission) on the grounds that enterprises should obtain financial funds or subsidies;
3. Banking financial institutions provide bridge loan for enterprises to issue bonds, short-term financing bills, medium-term notes, stocks (including private placement and private placement) and equity transfer.
2. Banking financial institutions are prohibited from issuing loans directly or in disguised form to project owners, project organizers and shareholders in the name of providing working capital loans for fixed assets project construction, pre-project loans and bridge loan before the borrower obtains the project approval procedures.
III. Banking financial institutions shall conduct bridge loan business in accordance with professional and reasonable principles.
1. The term of bridge loan shall not exceed 1 year and shall not be extended.
2. Banking financial institutions shall require borrowers who apply for bridge loan to provide sufficient collateral, but shall not accept borrowers to provide collateral for bridge loan with agreed financing agreements; Banking financial institutions with agreed financing obligations shall not issue bridge loan to borrowers, nor shall they provide guarantees for borrowers to apply for bridge loan from third parties.
Four, banking financial institutions should be in accordance with the requirements of this notice, as soon as possible to improve and rectify their own credit management system; The paid capital bridge loan shall not be regarded as the project capital in place, and the relevant banking financial institutions shall require the borrower to replenish its own capital and recover the loan in advance; The undistributed funds are not allowed to continue to be distributed in bridge loan. Other types of bridge loan should also require borrowers to implement the follow-up financing as soon as possible and return it to bridge loan in accordance with relevant agreements.