Related concepts of enterprise credit
According to different connotations and extensions, related concepts include financing, credit, bank credit and enterprise credit.
1. Financing
Financing (that is, financing) is a paid fund-raising activity such as borrowing and lending. According to the different trading relationship between the two parties, it can be divided into direct financing and indirect financing. Direct financing refers to the financing activities of direct trading of surplus and deficit units. Indirect financing refers to the financing activities that surplus and deficit units need to carry out through financial intermediaries such as banks. Its characteristic is that this financing activity will directly cause changes in the balance sheets of financial intermediaries such as banks.
2. Credit
Credit is the most common financing activity. It has a broad sense and a narrow sense. Credit in a broad sense refers to all the ways of value movement based on fulfilling promises. In a narrow sense, it includes personal credit, enterprise credit and bank credit according to the different subjects of loan funds. According to the difference of credit, it is divided into loan, guarantee, acceptance and credit.
3. Bank credit
Bank credit refers to the credit activities carried out by banks as the main body of lending. Broadly speaking, it refers to the economic activities of banks to raise debt funds, lend funds or provide credit support. In a narrow sense, it refers to the economic activities of lending funds or providing credit support, including bank loans, bank acceptance bills, credit commitments, standby letters of credit, export credit guarantees and reducing transaction margins.
4. Corporate credit
Corporate credit refers to fund lending or credit support activities with corporate legal persons and other non-natural persons as borrowers. That is to say, the bank credit with non-natural people such as companies as the main body of capital lending and banks as the main body of capital lending, of course, the credit of banks to partnership enterprises also belongs to the category of company credit.
Second, the basic elements of corporate credit
The basic elements of enterprise credit mainly include transaction object, credit product, credit limit, credit term, credit price, repayment plan, guarantee method and other constraints.
1. Transaction object
Trading objects refer to enterprises, legal persons and other economic organizations that have been approved and registered by the administrative department for industry and commerce and hold business licenses issued by the administrative department for industry and commerce.
2. Credit products
Credit product refers to the credit service mode under the specific product element combination, which mainly includes loan, guarantee, acceptance, credit support, letter of guarantee, letter of credit and commitment.
3. Credit guarantee amount
Credit line refers to the number of credit products that banks promise to provide to borrowers in the form of money.
4. Credit term
(1) concept. There are two terms in a letter of credit: broad and narrow. In a broad sense, the credit term refers to the whole term of the credit products that the bank promises to provide to the borrower, that is, the whole period from the signing of the contract to the expiration of the contract. The generalized credit term usually includes withdrawal period, grace period and repayment period. In a narrow sense, the credit term refers to the period from the issuance of a specific credit product to the agreed final repayment or settlement.
Withdrawal period: refers to the period from the effective date of this contract to the date when the loan amount stipulated in this contract is fully withdrawn (or the last withdrawal date). During this period, the borrower can withdraw money by stages as stipulated in the contract.
Grace period: refers to the period from the date of loan completion (or the date of last withdrawal) to the date of first repayment of principal and interest. The grace period is between the withdrawal period and the repayment period, sometimes including the withdrawal period, that is, the period from the effective date of the loan contract to the first repayment date stipulated in the contract. During the grace period, the bank can only charge interest, and the borrower does not have to repay the principal or principal and interest.
Note: During the grace period, the bank will still calculate the interest according to the regulations, and will not collect the principal and interest from the borrowing enterprise until the repayment period.
Repayment period: refers to the period from the first repayment date to the date when all the principal and interest agreed in the loan contract are paid off.
(2) Relevant provisions of the General Rules for Loans. The term of the loan shall be determined by the borrower and the borrower through consultation according to the borrower's production and operation cycle, repayment ability and bank fund supply ability, and shall be clearly stipulated in the loan contract. Generally, the term of self-operated loans shall not exceed 65,438+00 years, and those exceeding 65,438+00 years shall be reported to the regulatory authorities for the record. The maximum discount period of bills shall not exceed 6 months, and the specific discount period is from the discount date to the maturity date of bills. If the loan cannot be repaid on schedule, the borrower shall apply to the bank for extension before the loan expires, and whether the extension is decided by the bank. The extension period of short-term loans shall not exceed the original loan period; The cumulative extension period of medium-term loans shall not exceed half of the original loan period; The cumulative term of long-term loans shall not exceed 3 years.
5. Credit price
(1) loan interest rate. The loan interest rate is the price that the borrower pays when using the loan. According to different standards, loan interest rates are divided into different categories.
Statutory interest rate and public interest rate: Statutory interest rate refers to the interest rate promulgated by the government financial management department (such as the central bank) according to national laws and regulations. It is a policy tool for the country to realize macro-control, which is applicable to all financial activities of the country.
Public interest rate, also known as industry interest rate, refers to the interest rate determined by private financial institutions (such as banking associations). Its characteristic is that it is only applicable to member banks.
Fixed interest rate and floating interest rate: according to whether the interest rate level changes during the loan relationship, the loan interest rate can be divided into fixed interest rate and floating profit.
Fixed interest rate refers to the fixed loan interest rate level set when signing a loan contract. Its characteristic is that during the loan contract period, no matter how the market interest rate changes, the borrower pays interest to the lender at a fixed interest rate. During the recession, the market interest rate will generally go down, so it is more favorable for banks to use fixed-rate loans.
Floating interest rate refers to the interest rate that the loan interest rate is adjusted accordingly with the change of price, market interest rate or other factors during the loan term. Its characteristic is that it can flexibly reflect the supply and demand of funds in the financial market. In the economic boom stage, the market interest rate will generally rise, and it is more favorable for banks to adopt floating interest rate loans.
Local currency interest rate and foreign currency interest rate: Local currency interest rate refers to the interest rate determined when loans are issued in domestic currency (namely RMB). Foreign currency interest rate refers to the interest rate determined when loans are issued in foreign currency (that is, foreign exchange).
Benchmark interest rate and market interest rate: Benchmark interest rate refers to the standard interest rate as the basis for pricing loans (or other financial products); Market interest rate refers to the interest rate that changes freely according to the change of market capital supply and demand.
In specific loans, floating interest rate is a way to add points to the benchmark interest rate or determine the floating ratio. In China, the benchmark loan interest rate announced by the People's Bank of China is the legal (loan) interest rate.
Medium-and long-term interest rates and short-term interest rates: Medium-and long-term interest rates refer to loan interest rates above 1 year, which are divided into three grades: 1-3 years (including 3 years), 3-5 years (including 5 years) and 5 years and above. Short-term interest rate refers to the loan interest rate below 1 year, which is divided into two grades: below 6 months (including 6 months) and from 6 months to 1 year (including 1 year).
This classification method is only applicable to RMB loans. The interest rate of foreign currency loans has been marketized, and domestic banks usually set it according to the interest rates of major international financial markets (such as London Interbank Offered Rate).
Daily interest rate, monthly interest rate and annual interest rate:
The daily interest rate, also known as daily interest rate, takes the day as the interest-bearing period and is generally expressed as a few ten thousandths of the principal. The monthly interest rate, also known as the monthly interest rate, takes the month as the interest-bearing period and is generally expressed as a few thousandths of the principal. The annual interest rate, also known as the annual interest rate, takes years as the interest-bearing period and is generally expressed as a percentage of the principal. In China, the traditional interest standards for annual interest rate, monthly interest rate and daily interest rate are millicents (that is, a few ten thousandths), centimeters (that is, a few thousandths) and minutes (that is, a few percent). Every 10 mg is 1 cm, and every two cm is 1 point.
Interest calculation method: according to whether the interest is recalculated, it can be divided into simple interest and compound interest. Simple interest means that the calculated unpaid interest is no longer charged during the interest-bearing period. Compound interest refers to the calculated but unpaid interest during the interest-bearing period. According to the length of interest period, it can usually be divided into four types: daily interest, monthly interest, quarterly interest and annual interest.
According to RMB interest rate management regulations, loan interest rate management needs to know the following points:
① Short-term interest rate. The short-term interest rate is calculated according to the legal loan interest rate of the corresponding grade on the signing date of the loan contract. During the loan contract period, in case of interest rate adjustment, interest will not be calculated by stages.
② Medium and long-term interest rates. The medium and long-term interest rate is fixed for one year. The loan (including the funds to be allocated by installments from the effective date of the loan contract) shall bear interest at the legal interest rate of the corresponding grade on the effective date of the loan contract, and the loan interest rate for the next year shall be determined at the legal interest rate of the corresponding grade at that time one year later.
③ Loan extension. Cumulative calculation of loan term for loan extension. When the cumulative term reaches a new interest rate grade, interest will be calculated at the same grade interest rate listed on the extension date from the date of extension. If the new term grade cannot be reached, the interest will be calculated at the original grade interest rate on the extension date.
4 overdue loans (or misappropriation of loans). From the date of loans overdue (or misappropriation), the penalty interest will be charged at the penalty interest rate until the principal and interest are paid off. Interest rate adjustment under penalty interest, with interest calculated by stages.
⑤ Overdue repayment. If the borrower repays the loan before the expiration date of the loan contract, the bank has the right to charge the borrower interest according to the original loan contract.
(2) loan interest rate. Interest rate refers to the price of credit services provided by banks except interest rate. The rate is generally calculated according to the amount of credit products in a certain proportion. It mainly includes: guarantee fee, commitment fee, syndicated arrangement fee, issuance fee, etc.
According to the Measures for the Administration of Service Prices of Commercial Banks, the relevant rates are as follows:
① Commercial banking services refer to all kinds of services provided by commercial banks to customers through fees.
(2) Commercial banks shall abide by the laws, regulations and rules and regulations of the state on price when setting service prices, and follow the principles of reasonableness, openness, honesty and consistency of quality and price. Focus on bank customers, increase service varieties, improve service quality and service level, and prohibit unfair competition by using service prices.
(3) The service scope of commercial banks that implement government-guided prices is the basic RMB settlement business, including cashier's checks, bank cheques, bank drafts, bank acceptance bills, bank remittances, entrusted collection and acceptance, etc.
6. Liquidation plan
The loan contract shall specify the repayment plan, whether it is one-time repayment or installment repayment. In installment repayment, whether it is fixed repayment or non-fixed repayment. In fixed repayment, it is equal repayment or agreed repayment. In equal repayment, whether it is equal principal repayment or equal principal and interest repayment. 7. Guarantee method
Guarantee means the second repayment source of bank loans when the borrower can't or can't repay the principal and interest or pay related expenses on time as agreed. The way of guarantee is one of the main factors in reviewing loan projects. According to the relevant provisions of China's guarantee law, the guarantee methods include: guarantee, mortgage, pledge, deposit and lien. Among them, guarantee, mortgage and pledge are the most commonly used guarantee methods in enterprise credit.
8. Other restrictions
(1) charging conditions. Before the loan is issued, banks and customers must meet the following conditions before they can withdraw their accounts: all kinds of contracts are complete; Entry of mortgage and pledge