Article 2 The term "income right of credit assets" as mentioned in these Rules refers to the right to obtain the principal, interest and other agreed payments corresponding to credit assets.
Article 3 The business of transferring the income right of credit assets shall comply with laws and regulations, follow the principle of marketization, advance steadily and guard against risks.
Article 4 The CBRC shall supervise and manage the transfer of credit assets income rights of banking financial institutions according to law.
Article 5 The Banking Credit Assets Registration and Circulation Center (hereinafter referred to as "Yindeng Center") is specifically responsible for the product filing review, centralized registration, transaction settlement, information disclosure, statistical monitoring, etc. of the transfer business of credit assets according to the requirements of the CBRC, and timely reports important information to the CBRC.
Chapter II Basic Requirements
Article 6 The transferor's bank shall, in accordance with the requirements of the Notice, conduct centralized registration of the transfer of credit asset income right in Yindeng Center.
Article 7 Banking financial institutions shall transfer the income right of credit assets of commercial banks in the way that trust companies set up trust plans.
Ticket Friend Jun: It has been made clear here that only the trust plan can obtain the right to benefit from creditor's rights support, which is consistent with the management method of wealth management business passed on in the last issue!
Article 8 An investor who enjoys the right to income from credit assets shall continuously meet the relevant requirements of the regulatory authorities for qualified investors. Investors with the right to return on non-performing assets are limited to qualified institutional investors, and bank wealth management products, trust plans and asset management plans subscribed by individual investors are not allowed to invest; The principle of penetration should be applied to the source of funds of institutional investors, and the funds of individual investors should not be introduced directly or in disguise through nesting.
Ticket Friend Jun: Clear penetration principle, no individual investment allowed, only compliant investors can do it!
Article 9 The registration of credit assets and their usufruct shall be handled through the centralized registration system of Yindeng Center, and the transfer of usufruct of credit assets shall be handled through the asset circulation platform. If the income right of investment credit assets of bank wealth management products subscribed by qualified investors is transferred in accordance with the requirements of the Notice and registered centrally in Yindeng Center, the relevant assets are not included in the statistics of non-standardized creditor assets, but listed separately in the national banking wealth management information registration system.
Ticket Friend Jun: This article is a big killer for the transfer of credit income right. If it is transferred to a qualified investor, it is not a non-standard asset!
Article 10 Transfering banks and trust companies that intend to transfer credit asset income rights shall open credit asset registration accounts in Yindeng Center in accordance with the requirements of the Notice and the Rules for Centralized Registration of Credit Asset Circulation in Banking Industry (Yindengzi [2015] No.9). If you have already opened an account in Yindeng Center, you don't need to apply for opening an account again.
Ticket Friend Jun: Note that there are 18 trusts that have signed agreements: Sichuan Trust, Xiamen University International Trust, Tibet Trust, Minsheng Trust, Huaneng Guicheng Trust, Huaxin Trust, Ping An Trust, Bank of Communications Trust, Industrial Trust, Huaxin International, Shanghai International, Huarong International, Jianxin Trust, SDIC Kangtai Trust, Hangshang Trust, National Trust and Zijin Trust.
Article 11 The transferor's bank shall construct a credit asset package on the basis of fully evaluating the loan risks and benefits. The transferor's bank should carefully select the basic assets, giving priority to the credit assets whose expected cash flow recovery period distribution matches the repayment period of the trust plan and the collateral valuation method is relatively mature. The income right of normal credit assets and the income right of non-performing credit assets should be transferred separately, and the transferor's bank cannot construct a mixed credit asset package.