A few days ago, the central bank headquarters in Shanghai issued "2021 Shanghai credit policy guidelines" (hereinafter referred to as "guidelines"), requiring financial institutions to reasonably control the growth rate of real estate loans and the proportion of real estate loans, and to effectively prevent the flow of consumer loans and business loans into the real estate market in violation of the law.
The reporter learned that the current banking industry in Shanghai has carried out a comprehensive self-examination of consumer loans, business loans, etc., and there are banks that have advanced the recovery of the illegal loans; at the same time, the banks have reported the self-examination and rectification of the relevant situation to the regulators, who are now doing a summary of the collation.
In addition to the overseas, the first financial information, Shenzhen regulators recently convened a meeting of major commercial banks in Shenzhen, requiring the business loans, consumer loans into the real estate market for investigation, Beijing before the Spring Festival has also opened a special investigation.
Industry insiders interviewed by the First Financial said that business loans, consumer loans flow into the real estate market in violation of the order of the real estate market, not only affects the small and medium-sized micro-enterprises financing difficulties, financing is expensive, and even further lead to the market capital off the real to the virtual. Regulatory scrutiny will help business loans return to their essence, and to some extent promote the healthy development of the property market.
Shanghai banking industry comprehensive self-check
For the Shanghai banking industry, strict control of operating loans, consumer loans funds into the real estate market has become one of the key tasks this year. The above Guidelines emphasize that in 2021, financial institutions should strengthen the management of personal housing loans, strictly review the authenticity of the personal information of the lenders, and effectively prevent consumer loans and business loans from flowing into the real estate market in violation of the law.
In fact, before this regulatory reissue, the Shanghai Banking and Insurance Regulatory Bureau issued the "Circular of the Shanghai Banking and Insurance Regulatory Bureau on Further Strengthening the Management of Individual Housing Credit" in January, which put forward requirements for commercial banks under its jurisdiction on the implementation of the differentiated housing credit policy, housing credit management and other work.
The requirements include, among others, requiring banks under the jurisdiction to conduct a comprehensive self-inspection of consumer loans, business loans and personal housing loans issued since June last year; at the same time, an interception mechanism is proposed, requiring the improvement of the monitoring and interception mechanism of the use of credit funds, expanding the scope of the model monitoring and enhancing the monitoring effect. Substantial control measures should be taken in a timely manner for confirmed use violations.
First Financial has learned that major banks in the Shanghai area are currently conducting checks on the flow of consumer and business loans. A state-owned large bank risk management department related sources told reporters that similar checks in fact in previous years, the bank's monitoring of the flow of funds after the loan is a routine operation, the bank is generally through the recipient of the keyword retrieval, and then hit the keyword clues for secondary verification. "It's just that this year it's more stringent."
As for how banks specifically self-check, a city merchant bank branch president assistant told reporters that the main thing is to look at the main body of the borrower and the flow of funds. For example, in checking business loans, first determine whether the borrowing body is a newly incorporated shell company, whether there is normal business settlement transaction flow, and whether the main business characteristics are consistent.
Subsequently, we will look at the flow of funds, including whether the payment counterparty is a normal business partner, whether it is consistent with the operating characteristics, and whether the payment amount is consistent with the scale of the consistent settlement; at the same time, we also need to pay attention to the inflow of funds from the real controller and affiliated enterprises, mainly to prevent the actual funds from flowing back after the formal payment and rewinding and then entering the property market.
After the bank's self-inspection, the regulator will also carry out verification and make corresponding punishment for the violation. It is reported that the Shanghai region requires banks to report to the Shanghai Banking and Insurance Supervision Bureau before February 28, self-examination and rectification report, the reporter learned that the banks have already reported the situation, the Shanghai Banking and Insurance Supervision Bureau is being summarized and collated.
In addition to strictly controlling the illegal inflow of credit funds into the property market, the "Guidelines" also said that financial institutions should reasonably control the growth rate of real estate loans and accounted for the proportion of the strict implementation of the differentiated housing credit policy, giving priority to supporting the first set of just need to buy their own homes demand. This means that, under the control of many parties, the investment of the bank's housing-related funds will be restricted.
In this context, a number of industry insiders believe that this year, the bank credit investment will face structural rationing adjustment, that is, the bank will reduce the proportion of housing mortgage loans and real estate development loans to increase the investment of other retail and public loans.
Multiple places have also opened the investigation
In addition to the Shanghai region, the first financial information, Shenzhen regulators recently convened a meeting of the major commercial banks in Shenzhen, requiring the operation of the loan, consumer loans into the real estate market to be investigated. A joint-stock bank said it has received the relevant notice.
This is also the second time since April 2020 that Shenzhen has been investigating business loans for real estate speculation. The reporter learned that, unlike the previous routine spot checks, this is a special inspection. The main content of the inspection is whether the transfer of the mortgaged property has been completed for eight months when applying for a loan, whether the loan disbursement has been completed for six months, and whether the lender and his spouse have a record of buying a house in the last three months, said the head of a Shenzhen branch of a joint-stock bank.
Shenzhen banking industry sources said that the previous routine inspection found in the business loans, consumer loans speculation, generally is the bank loan audit is lax, or misappropriation of time and obtain a loan interval is too short, and the use of the loan did not hide the actual flow of funds. In order to avoid exposing the actual use, many lenders take the way of multi-account transfers to hide the actual flow of loans.
Beijing, Guangdong and other places have also begun to check the illegal flow of business loans into the property market. on February 1, the Beijing Banking and Insurance Bureau issued an announcement to carry out a big data screening for the misappropriation of funds from consumer loans and business loans by some home buyers as payment for the purchase of houses, and to check the cases of transactions in the hotspot areas since January 25th.
The above actions mainly verified the behavior of purchasers and immediate family members who had recently applied for and used business loans in full-payment home purchases. In response to the previous speculation in the Beijing school district housing market, the relevant departments also focused on the verification of hotspot school district housing transactions in the Xicheng District Financial Street, Dewei, Haidian Wanliu, Zhongguancun, etc.
These actions were taken by the Beijing government in response to a request from the Beijing government for a new school district housing market.
Taking the case in which it was checked as an example, a person newly registered a small and micro-enterprise last year, after registering the enterprise in a few days, it signed a second-hand house in the key school district in Xicheng District, and in the following months, has applied for a multi-million-dollar business loan from two banks.
With the cooperation of the banks, the inspectors will investigate where the business loans were used after they were issued, and whether they flowed into the accounts of other shell companies through false business contracts. Because of the illegal entry of funds from the business loans into the property market, often through multiple payments "pouring out", the inspectors will check the final flow of each sum of money.
The wind of speculation in the property market may be curbed
If the investigation and rectification of operating loans in many places are put into practice, it will help curb the wind of speculation in the property market. Shell Research Institute senior analyst Pan Hao believes that it is expected to follow the rapid rise in housing prices, especially in large cities, will strengthen the supervision of "illegal funds" into the property market, "early recovery of loans" measures will be a deterrent to real estate speculators.
"If there is a violation of the phenomenon to draw loans, the property market in hot cities will form a big blow, especially to the north, Guangzhou and Shenzhen these first-tier cities." Li Yuga, chief researcher of the Guangdong Housing Policy Research Center, told CBN.
"Operating loans are all leveraged to buy houses, partly encouraged by capital intermediaries, replacing all the stock of housing loans with operating loans, which is also against the law. Really strict investigation, every single one of them can not escape." The end result, according to Li Yuga, is that many people will list their homes for sale.
Lu Wenxi, chief analyst of Shanghai Centaline Real Estate, told reporters that, specifically from the type of real estate, the strict investigation of operating loans to speculate on real estate to a certain extent will have an impact on high-end projects, especially luxury residential projects. "Generally those who buy luxury residential products are business owners, and they tend to get money out of their operating loans through a variety of channels, and after this approach is strictly investigated, the water in luxury residential projects may be squeezed out."
Li Yuga also said that all parties involved in business loan violations, including commercial banks, would be severely penalized, and that the local banking supervisory bureaus have recently announced a number of cases of business loan violations, with relatively strong penalties for banks.
Zhang Dawei, chief analyst of Centaline Real Estate, said that the core reason for the inflow of business loans into the property market is the interest rate differentials with mortgage loans, but also related to the banks in the process of lending both as athletes and referees. He believes that, from the bank's point of view, the risk of operating loans is relatively higher than mortgage loans, but the interest rate of operating loans in the policy requirements and lower than mortgage loans, so the bank in the implementation of the level of action out of shape.
"The recent crackdown on some short-term use of new homeowners' books as well as new business registrations to obtain business loans is very strong. The strength of this policy can certainly curb market overheating, so that business loans return to its essence, which helps business operations, and can to a certain extent inhibit the irrational and unhealthy development of the entire property market." Zhang Dawei said.