The new measures are mainly revised in four aspects: strengthening risk-based supervision, adapting to the market demand of high-quality development of automobile industry, strengthening corporate governance and internal control, and implementing opening-up policy.
The new method cancels the equity investment business. Put forward higher requirements for investors, strengthen shareholders' support for auto financing companies, appropriately expand the scope of shareholders' deposits, and cancel the term of fixed deposits. Risk management requirements have been increased, liquidity risk supervision indicators have been increased, and the systems of major emergency reporting, on-site inspection, extended investigation and tripartite talks have been improved.
The new Measures increase the requirements of corporate governance and internal control, focusing on the regulatory requirements of equity management, "three meetings and one building", related party transactions, information disclosure, consumer rights protection, internal and external auditing and information systems, and strengthen the corporate governance construction with the characteristics of auto finance companies.
Auto parts financing is included in the business scope.
The State Financial Supervision and Administration Bureau said that the Measures adapt to the market demand of high-quality development of the automobile industry, include auto accessory financing in the business scope, and allow customers to apply for additional financing separately after handling auto loans. It is allowed to provide loans such as inventory purchase and maintenance equipment purchase to automobile after-sales service providers. The financial leasing business of sale and leaseback mode is allowed, and the leaseback business must be based on the real trade background of the vehicle.
Specifically, the Measures stipulate that an auto financing company shall obtain the credit information of the borrower or lessee and other internal and external information through legal channels to comprehensively evaluate the credit status of the borrower or lessee when conducting auto and auto parts loans and financial leasing business; Independent and effective core risk control work such as customer identity verification, risk assessment, credit approval and contract signing; Establish and improve the credit risk model of individual or institutional customers, and dynamically monitor the quality of credit assets.
Reference to the above contents: Baidu Encyclopedia-Measures for the Administration of Auto Finance Companies