Article 76 Measures for the administration of foreign government loans, export credits, foreign discount loans, foreign guarantees under export credits and international commercial loans matching the above loans shall be formulated separately by the People's Bank of China.
Article 77 The lender may formulate detailed rules for implementation according to these General Rules and report them to the People's Bank of China for the record.
Article 78 If the provisions formulated by the People's Bank of China and the lenders before the implementation of these General Rules are inconsistent with these General Rules, these General Rules shall prevail.
Article 79 The People's Bank of China shall be responsible for the interpretation of these General Rules.
Article 80 These General Rules shall come into force as of August 1 2006.
General Rules for Loans (Draft for Comment)
Issued by the People's Bank of China on April-10, 2004.
Announcement of China People's Bank and China Banking Regulatory Commission
In order to meet the needs of the development of the socialist market economy, the People's Bank of China and the China Banking Regulatory Commission revised the General Principles of Loans (Order No.2 of the People's Bank of China [1996]) promulgated and implemented in1996. Now the revised General Principles of Loans (draft for comments) are published to the public for comments.
Please reply to China People's Bank by letter, email or fax before May 6, 2004.
Contact: Gao Yuze
Mailing address: No.32 Fangcheng Street, Xicheng District, Beijing
China people's bank financial market department
Postal code: 100800
E-mail:
Contact telephone number:
Fax:
Attachment: General Rules for Loans (Draft for Comment)
Chapter I General Provisions
Chapter II Types, Term and Interest Rate of Loans
Chapter III Borrower
Chapter IV Lenders
Chapter V Loan Management
Chapter VI Special Provisions on Loan Management
Chapter VII Legal Liability
Chapter VIII Supplementary Provisions
Chapter I General Provisions
Article 1 In order to regulate the lending behavior, maintain the credit market order and protect the legitimate rights and interests of both borrowers and borrowers, according to the Law of the People's Republic of China on the People's Bank of China, the Law of People's Republic of China (PRC) Commercial Bank, the Law of China on Banking Supervision and Administration, the General Principles of the Civil Law, the Contract Law of People's Republic of China (PRC) and the Guarantee Law of People's Republic of China (PRC).
Article 2 The term "loan" as mentioned in these General Rules refers to monetary funds issued by financial institutions approved by the the State Council Banking Regulatory Authority, which serve the public and are conditional on repayment of principal and interest.
The term "loan business" as mentioned in these General Rules refers to the business activities of financial institutions approved by the the State Council Banking Regulatory Authority to lend the right to use monetary funds on the condition of repayment of principal and interest.
Article 3 The term "lender" as mentioned in these General Rules refers to a financial institution legally established within the territory of People's Republic of China (PRC) with the approval of the the State Council Banking Regulatory Authority, and qualified to engage in loan business.
The borrower mentioned in these General Rules refers to a legal person, other organization or natural person who has established a loan legal relationship with the lender.
Article 4 The loan currencies in these General Rules include RMB and foreign currency.
Fifth in People's Republic of China (PRC) to engage in loan business, shall not violate the laws, regulations and relevant provisions of People's Republic of China (PRC).
Article 6 Lenders and borrowers shall follow the principles of equality, voluntariness, fairness, honesty and credibility.
Article 7 Legal persons, other organizations and natural persons shall not interfere with the loan business of lenders according to law.
Article 8 The People's Bank of China and the China Banking Regulatory Commission are the administrative organs that implement the general principles of loans.
Chapter II Types, Term and Interest Rate of Loans
Article 9 Loans are divided into short-term loans, medium-term loans and long-term loans.
Short-term loans refer to loans with a loan term of 1 year (inclusive).
Medium-term loans refer to loans with a loan term of more than 1 year (excluding 1 year) and less than 5 years (including 5 years).
Long-term loans refer to loans with a loan term of more than 5 years (excluding 5 years).
Article 10 Loans are divided into credit loans and secured loans according to whether they are secured or not.
Credit loan refers to an unsecured loan based only on the borrower's credit status.
A secured loan refers to a loan provided by the borrower or a third party according to law. Secured loans include secured loans, mortgage loans and pledged loans.
Guaranteed loan, mortgage loan or pledge loan refers to the loan issued by way of guarantee, mortgage or pledge as stipulated in the Guarantee Law of People's Republic of China (PRC).
Article 11 The loan term shall be determined by the borrower and the borrower through independent consultation according to the loan purpose, capital status and asset conversion cycle.
Article 12 The borrower shall apply for extension of the loan before the maturity date, and may extend the loan with the consent of the lender. Lenders should review the reasons and actual needs of the change of the asset conversion cycle required for loans, adhere to the principle of prudent management, and reasonably determine the loan extension period.
Thirteenth early repayment should be stipulated in the loan contract and executed according to the contract. If there is no prior agreement, it shall be agreed by the lender.
Article 14 The loan interest rate level and interest settlement method shall be implemented in accordance with the interest rate management regulations of the People's Bank of China and other relevant regulations.
Article 15 Lenders shall waive, stop, reduce, postpone and waive loans in accordance with relevant regulations.
Chapter III Borrower
Article 16 If the borrower is a legal person or other organization, it shall meet the following basic conditions:
(1) A legal person who has gone through industrial and commercial registration according to law shall be registered in the administrative department for industry and commerce and go through the annual inspection procedures continuously; The institution as a legal person has been registered or put on record in the institution registration authority in accordance with the Provisional Regulations on the Administration of Registration of Institutions;
(2) Having a legal and stable income or income source and the ability to repay the principal and interest on schedule;
(3) basic account, settlement account or general deposit account has been opened;
(4) According to the relevant regulations of the People's Bank of China, if a loan card (No.) is needed, a loan card (No.) approved by the People's Bank of China must be held;
(5) Unless otherwise provided by the administrative organ.
Article 17 A natural person borrower shall meet the following basic conditions:
(1) Having a legal identity document or a valid residence certificate in China;
(2) Having full capacity for civil conduct;
(three) good credit, stable income or assets, and the ability to repay the principal and interest on schedule.
(4) Unless otherwise provided by the administrative organ.
Eighteenth organs as legal persons and their branches shall not apply for loans; Overseas legal persons, other organizations or natural persons applying for loans shall not violate the provisions of the State on foreign exchange control.
Article 19 The borrower shall provide the lender with relevant information required by the lender in a timely manner according to law, and shall not conceal or provide false information.
Article 20 The borrower shall accept the lender's supervision over its financial status and loan use according to law.
Article 21 When the borrower intends to undertake major matters such as contracting, leasing, joint venture, merger (merger), cooperation, division, equity transfer, shareholding system reform, foreign investment and so on, it shall notify the lender in writing in advance; In case of litigation and other major events, the lender shall be informed in writing within 3 working days from the date of litigation and other major events. At the same time, at the request of the lender, cooperate with the lender to take loan preservation measures to pay off or execute the original loan debt.
Article 22 The borrower shall use the loan as agreed in the loan contract and repay the loan principal and interest in full on schedule. If the borrower fails to repay the loan within the agreed time limit, it shall pay overdue interest according to the relevant provisions of the People's Bank of China.
Article 23 The borrower shall not use the loan for the following purposes:
(a) production, operation or investment in products or projects prohibited by the state;
(two) in violation of the relevant provisions of the state to engage in equity investment, in violation of the provisions of the state to use loans as registered capital, capital verification or capital increase and share expansion;
(3) Investing in stocks, futures and financial derivatives in violation of relevant state regulations;
(4) Budget revenue and expenditure;
(5) Other prohibited uses as stipulated by the state.
Chapter IV Lenders
Twenty-fourth lenders must be approved by the the State Council Banking Regulatory Authority to operate the loan business, hold a financial license issued by the the State Council Banking Regulatory Authority, and be approved and registered by the administrative department for industry and commerce.
Twenty-fifth lenders independently review and decide on loans, and have the right to refuse any legal person, other organization or natural person to force them to issue loans.
Article 26 The lender shall announce the types, term and interest rate of the loans it operates, and reply whether to accept the borrower's loan application within 30 days from the date of receiving the loan application.
Twenty-seventh lenders should keep the borrower's account, assets, financial status and other business secrets and personal privacy. Unless otherwise provided by law or otherwise agreed by the parties.
The lender has the right to take legal measures to inquire about the information provided by the borrower, and to submit the borrower's financial statements or collateral and pledge to an institution recognized by the lender for audit or evaluation.
Article 28 If the borrower fails to fulfill the obligations stipulated in the loan contract, the lender may stop issuing loans, recover part or all of the loans in advance or terminate the loan contract as agreed in the contract.
When the borrower fully performs the loan contract, if the lender fails to provide the loan in full and on time as agreed in the contract, it shall be liable for breach of contract and bear the losses caused to a bona fide third party as agreed in the contract.
Article 29 The Lender has the right to take measures to prevent loan losses according to the law or the agreement in this contract.
When the borrower fails to repay one or more loans of one or more lenders as agreed in the contract, all lenders may require him to repay in advance as agreed in the contract.
Article 30 The lender shall collect reasonable fees in accordance with the relevant provisions of the state.
After the loan credit line is determined, the lender shall charge a certain proportion of commitment fee and other related expenses for the unused credit line according to the relevant provisions of this contract. The specific collection method and rate standard shall be implemented in accordance with the contract.
Article 31 The lender has the right to refuse additional conditions beyond those stipulated in the loan contract.
Thirty-second lenders should be in accordance with the relevant provisions of the People's Bank of China, the loan elements in a timely manner into the bank credit registration consulting system.
Article 33 When realizing the mortgage and pledge, the lender shall adopt legal methods and procedures, and shall not harm the legitimate rights and interests of the mortgagor and the pledger.
Article 34 After investigation by the lender, the lender may not issue loans to the borrower under any of the following circumstances:
(a) the construction project loan has not obtained the approval document, and it has been reported to the relevant departments for approval in accordance with state regulations;
(2) Loans for production, operation or investment projects that should be approved by the environmental protection department and other departments in accordance with state regulations;
(3) The borrower fails to pay off or implement the original loan debt of the lender in the process of contracting, leasing, joint venture, merger (merger), cooperation, division, equity transfer and shareholding system reform;
(4) Branches without legal person qualification have no right to borrow money.
(five) the state clearly stipulates that loans are not allowed.
Chapter V Loan Management
Article 35 When applying for a loan, the borrower shall simultaneously provide one or more of the following materials:
(a) the basic information of the borrower (and guarantor);
(2) Natural persons shall provide valid identity certificates and relevant credit status certificates;
(3) Legal persons and other organizations must provide relevant financial reports, of which the annual report must be audited by relevant departments or legally effective accounting (auditing) firms, and enterprises (institutions) as legal persons should also provide loan certificates (No.);
(4) List of collateral (pledge), the certificate that the person who has the right to dispose of it agrees to mortgage (pledge), or the relevant documents that the guarantor agrees to guarantee;
(5) Other relevant information deemed necessary by the lender.
Article 36 After receiving the loan application, the lender shall simultaneously review one or more of the following situations:
(1) Various information provided by the borrower;
(two) the borrower's financial situation, cash flow and historical repayment records and other non-financial factors, to assess the borrower's repayment ability;
(3) Assessing the credit rating of the borrower. According to the borrower's personnel quality, economic strength, financial situation, performance records, operating benefits and development prospects, the borrower's credit rating is assessed. Rating can be carried out by the lender independently and internally, or by an evaluation agency recognized by the competent department.
(four) the quality and legal effect of the guarantee;
(five) when issuing corporate loans, it is necessary to strictly review the borrower's assets and liabilities and predict the borrower's cash flow;
(six) when issuing project loans, it is necessary to evaluate the future cash flow forecast and pledge, mortgage, guarantee or insurance of the loan project, and strictly review the project proposal and feasibility study report of the loan project;
(seven) when granting loans to affiliated enterprises, the assets and liabilities, financial status, external guarantees and mutual insurance of all affiliated enterprises shall be uniformly evaluated and reviewed.
Article 37 When granting secured loans, the lender shall strictly examine the repayment ability of the guarantor, whether he acts as a guarantor in violation of state regulations, the ownership and value of the collateral, and the feasibility of realizing the collateral.
When granting credit loans, lenders must strictly examine and evaluate borrowers to confirm their credit status and repayment ability.
Thirty-eighth the issuance of secured loans must sign a guarantee contract, and go through the guarantee procedures in accordance with the provisions of the "People's Republic of China (PRC) Guarantee Law". If registration is required, it shall be registered according to law; If it needs to be served, it shall be served according to law.
Article 39 When a lender issues a secured loan by way of pledge of rights, the right used for pledge shall be the right clearly pledged according to law.
Fortieth the lender and the borrower shall sign a loan contract in accordance with the provisions of the People's Republic of China (PRC) Contract Law, unless otherwise stipulated by the state.
Article 41 According to the prior agreement of the borrower, the lender may participate in major matters such as the borrower's foreign investment, asset restructuring or major related party transactions, implement effective guarantee and repay the principal and interest.
Article 42 The lender shall make annual statistics on the remaining loan term and amount from the maturity date, and manage the exposure and liquidity corresponding to the debt term.
Article 43 The lender shall uniformly determine the comprehensive credit line for off-balance-sheet businesses such as loans, commitments, acceptances and guarantees of individual borrowers and their affiliated enterprises, and centrally control risks.
Article 44 A lender shall implement a prudent and effective credit management authorization system.
Article 45 A lender may conclude a written agreement with a borrower. If the borrower fails to repay the principal and interest on time, the lender may deduct the loan principal and interest from the account opened by the borrower in the lender's business institution and notify the borrower in time.
Article 46 For a loan repaid by installments, the lender may agree with the borrower that if a certain installment of the loan is not repaid, the overdue interest may be extended or collected, and other loans that are not yet due may be treated as mature loans.
Article 47 Lenders shall, according to the risk status of loans, classify loans into normal, concerned, secondary, doubtful and loss categories. Lenders should recover overdue loans in time. According to the days overdue, project loans and corporate loans are divided into five grades: 90 days overdue, 180 days overdue, 270 days overdue, 360 days overdue and more than 360 days overdue, which are important reference indicators for loan quality classification. For retail loans, the overdue days should be divided more carefully according to the above provisions.
Article 48 If the borrower fails to repay the principal and interest of the loan as agreed in the contract or fails to repay the principal and interest, the lender shall keep the creditor's rights in time, disclose them in the news media if necessary or take legal measures such as litigation according to law.
Article 49 The lender may accept the borrower, guarantor, mortgagor or pledger to repay the loan at a fixed price with non-monetary property. If the price is not enough to pay off the loan principal and interest, the borrower shall continue to pay off the outstanding part; If the assessed amount exceeds the outstanding loan principal and interest, the lender shall pay the excess to the borrower.
Non-monetary assets acquired by the lender shall be disposed of in a timely manner in accordance with the principle of prudence.
Article 50 A lender shall establish and improve a loan risk early warning system and a quality monitoring system to classify, identify, register, evaluate and collect non-performing loans.
Article 51 The lender shall withdraw the loan loss reserve in accordance with the relevant provisions of the Ministry of Finance and the the State Council Banking Regulatory Authority.
Article 52 Lenders shall write off non-performing loans in accordance with the relevant provisions of the Ministry of Finance.
Chapter VI Special Provisions on Loan Management
Article 53 A syndicated loan refers to a loan method that allows multiple lenders engaged in loan business to provide funds to the same borrower according to the same loan agreement.
Article 54 Financial institutions engaged in loan business at home and abroad may become lenders of syndicated loans and choose the applicable law according to law.
Article 55 The lender of a syndicated loan shall sign an agreement to clarify the rights and obligations among the lead party, the correspondent bank and the participants, or stipulate in the loan contract.
Article 56 Lenders of syndicated loans shall enjoy rights and interests and bear risks according to the actual loan ratio or the contract.
Article 57 The lead party and participants of a syndicated loan shall provide loans to the borrower according to the requirements of the syndicated loan contract.
Article 58 The lead bank or correspondent bank of syndicated loans shall inform the participating banks of the borrower's financial status and other information in a timely manner.
Article 59 A syndicated lender may require the borrower to pay the relevant syndicated loan fees, and the allocation scheme of the syndicated loan fees shall be determined by all the lenders participating in the syndicate through consultation.
Article 60 The lead bank or correspondent bank of a syndicated loan shall timely distribute the loan repaid by the borrower to all participating banks according to the provisions of the agreement.
When the borrower fails to perform the obligations stipulated in the loan contract, the lender of the syndicated loan shall demand repayment according to the repayment ratio stipulated in the loan contract.
Article 61 Where a lender transfers a loan, it shall handle it in accordance with the relevant provisions of the state.
The transferee of loans from foreign financial institutions shall comply with the provisions of the State Administration of Foreign Exchange and other relevant departments.
Article 62 Loan transfer includes loan transfer with recourse and loan transfer without recourse. When the transferee reserves the right of recourse for loan transfer, the transferor shall record it off the balance sheet and manage and disclose it according to the relevant provisions of contingent liabilities.
Article 63 The transferor of a loan must provide information related to the price and risk of the transferred loan, and shall not conceal or provide false information.
Article 64 The loan transferee must be a financial institution that has been approved by the the State Council Banking Regulatory Authority to operate the loan business. In addition, the loan transfer must be approved by the the State Council Banking Regulatory Authority.
Article 65 The transferee of a loan may manage the transferred loan by itself, or entrust other financial institutions approved by the the State Council Banking Regulatory Authority to manage the loan business on its behalf.
Article 66 If the lender transfers all or part of the loan creditor's rights to a third party, it shall notify the borrower in writing or by public announcement within 30 days from the date of transfer. If the lender fails to notify the borrower, the transfer shall have no legal effect on the borrower.
Article 67 Where a borrower transfers all or part of the loan debt to a third party, it must obtain the written consent of the lender in advance.
Article 68 Before agreeing that the borrower will transfer all or part of the loan to a third party, the lender must strictly review the credit standing and repayment ability of the third party, and the specific evaluation and review procedures shall be implemented according to the loan issuance.
Chapter VII Legal Liability
Article 69 A borrower who defrauds a loan shall be punished in accordance with Articles 82 and 83 of the People's Republic of China (PRC) Commercial Bank Law.
Article 70 If the borrower violates the provisions of Article 18, Article 19, Article 20, Article 21, Article 22 and Article 23 of these General Rules, the lender shall order him to make corrections. If he refuses to make corrections, the lender may stop issuing loans and recover part or all of the loans in advance. If losses are caused, the borrower and its competent personnel or other responsible persons shall be liable for compensation.
Article 71 Where the staff of the lender violates the provisions of these General Rules and issues loans to relatives and friends for personal benefit, thus causing losses, they shall be fully or partially liable for compensation.
Article 72 Where a unit or individual forces the lender to issue loans, or the staff of the lender forces the unit or individual to issue loans but fails to refuse, it shall be punished in accordance with the provisions of Article 88 of the People's Republic of China (PRC) Commercial Bank Law.
Article 73 Where a lender commits one of the following acts, the banking regulatory institution shall punish it in accordance with the provisions of Article 74 of the People's Republic of China (PRC) Commercial Bank Law.
(1) Issuing credit loans to related parties;
(2) The conditions for granting secured loans to related parties are better than similar loans of other borrowers;
(3) Raising or lowering interest rates in violation of regulations and granting loans by other unfair competition means;
Article 74 Where a legal person, other organization or natural person engages in or engages in the loan business specified in these General Rules in disguised form without the approval of the the State Council Banking Regulatory Authority, the banking regulatory authority shall ban it, confiscate its illegal income, and impose a fine of more than/kloc-0 and less than 5 times its illegal income in accordance with the Measures for Banning Illegal Financial Institutions and Illegal Financial Business Activities; If there is no illegal income, a fine of 654.38+10,000 yuan and 500,000 yuan shall be imposed; If a crime is constituted, criminal responsibility shall be investigated according to law.
Article 75 Under any of the following circumstances, the the State Council Banking Regulatory Authority shall order the lender to make corrections: if it fails to make corrections within the time limit, the banking regulatory authority shall impose a fine of more than 654.38 million yuan and less than 500,000 yuan:
(a) in violation of the relevant provisions of the people's Bank of China on interest rate management;
(two) the loan period agreed in the loan contract exceeds the longest loan period stipulated by the administrative organ;
(3) The loan extension period exceeds the longest extension period stipulated by the administrative organ.
Article 76 Where a lender violates the provisions of Articles 26, 27 and 33 of these General Rules, the banking regulatory institution shall order it to make corrections; If no correction is made within the time limit, the banking regulatory institution shall impose a fine of 654.38+10,000 yuan but not more than 500,000 yuan. If losses are caused to the borrower, it shall bear the corresponding liability for compensation.
Article 77 Where a lender violates the provisions of Articles 30 and 32 of these General Rules, the banking regulatory institution shall order it to make corrections; If no correction is made within the time limit, the banking regulatory institution shall impose a fine of 654.38+10,000 yuan but not more than 500,000 yuan.
Article 78 Where a lender issues a loan in violation of the provisions of Article 34 of these General Rules, the banking regulatory institution shall give a warning according to the seriousness of the case, and impose a fine of 654.38 million yuan to 500,000 yuan, until the business license of the lender or its branch is revoked.
Article 79 If a lender violates the provisions of Article 36 of these General Rules and fails to strictly examine the borrower, thus causing loan losses, the banking regulatory institution shall give a warning according to the seriousness of the case and impose a fine of 654.38 million yuan to 500,000 yuan, until the business license of the lender or its branches is revoked.
Article 80 If the lender fails to make full provision for loan losses in time in accordance with the relevant provisions of the Ministry of Finance and the banking supervision institution of the State Council, the banking supervision institution shall give a warning and order it to make corrections; If the lender refuses to make corrections, the banking supervision institution shall punish it in accordance with the relevant provisions of the state.
Chapter VIII Supplementary Provisions
Article 81 Unless otherwise stipulated by the state, loans granted by policy banks shall be implemented by referring to these General Rules.
Article 82 These General Rules shall apply to loans granted by foreign-funded financial institutions, and if there are other provisions in laws and regulations, those provisions shall prevail.
Article 83 The People's Bank of China and China Banking Regulatory Commission shall be responsible for the interpretation of these General Rules.
Article 84 These General Rules shall come into force as of the date of promulgation. In case of any conflict with these General Rules, these General Rules shall prevail.