In order to enhance the ability of banking financial institutions to resist fluctuations in the real estate market, prevent potential systemic financial risks caused by excessive concentration of real estate loans in the financial system, and improve the stability of banking financial institutions, the Notice on Establishing a Centralized Management System for Real Estate Loans of Banking Financial Institutions (hereinafter referred to as the Notice) issued by the People's Bank of China and the China Banking Regulatory Commission on February 3 1/set two upper limits on the ratio of real estate loans to individual housing loans.
It is worth pointing out that according to the Notice, in order to support the vigorous development of the housing rental market, housing rental-related loans will not be included in the calculation of real estate loan ratio for the time being.
Xia Dan, a researcher at the Financial Research Center of Bank of Communications, believes that the Notice reflects the consideration of preventing risks and stabilizing the financial and real estate markets. For the real estate market, strengthening real estate financial supervision is a link to adhere to the principle of "housing and not speculating"; For the financial market, preventing the property market risk from being transmitted to the financial sector is conducive to the steady development of the financial system.
The notice shall be implemented as of 20211.
"Two Upper Limits" of Real Estate Loans
On February 3rd, 65438+KLOC-0, the central bank and the China Banking Regulatory Commission said at the press conference of the Notice that the concentration management system of real estate loans means that the ratio of real estate loans to personal housing loans of Chinese-funded corporate banking financial institutions established in China should meet the management requirements stipulated by the People's Bank of China and the China Banking Regulatory Commission, that is, it should not be higher than the corresponding upper limit stipulated by the People's Bank of China and the China Banking Regulatory Commission.
The setting of this "upper limit" takes into account the types of banks, the current situation and future space of the existing real estate loan business, and is set in different grades.
The first file is large Chinese banks, including China Industrial and Commercial Bank, China Construction Bank, China Agricultural Bank, China Bank, China Development Bank, Bank of Communications and China Postal Savings Bank. The upper limit of real estate loans is 40%, and the upper limit of personal housing loans is 32.5%.
The second file is Chinese medium-sized banks, including China Merchants Bank, Agricultural Development Bank, Shanghai Pudong Development Bank, China CITIC Bank, Industrial Bank, China Minsheng Bank, China Everbright Bank, Huaxia Bank, Export-Import Bank, China Guangfa Bank, Ping An Bank, Bank of Beijing, Bank of Shanghai, Bank of Jiangsu, hengfeng bank, Zheshang Bank and Bohai Bank. The upper limit of real estate loans is 27.5%, and the upper limit of personal housing loans is 20%.
The third file is small banks and non-county agricultural cooperative institutions in China, including city commercial banks, private banks, large and medium-sized cities and urban agricultural cooperative institutions. The upper limit of real estate loans is 22.5%, and the upper limit of personal housing loans is 17.5%.
The fourth file is county-level rural cooperative institutions, with the upper limit of real estate loans accounting for 17.5% and individual housing loans accounting for 12.5%.
The fifth file is the village bank, with the upper limit of real estate loan 12.5% and personal housing loan of 7.5%.
At the same time, in order to reflect regional differences, the concentration management of real estate loans can be moderately flexible and set a transition period to ensure the smooth implementation of policies and promote the stable and healthy development of the real estate market and financial market.
According to the Notice, if the proportion of real estate loans and personal housing loans of banking financial institutions exceeds the management requirements by less than 2 percentage points from the end of June 5438 to February 2020, the transition period of business adjustment shall be 2 years from the date of implementation of this Notice; If it exceeds 2 percentage points or more, the transition period of business adjustment shall be 4 years from the date of implementation of this notice.
The circular stressed that banking financial institutions that currently exceed management requirements should formulate transitional business adjustment plans in light of their own reality; Banking financial institutions that meet the management requirements should steadily carry out real estate loan-related business. The People's Bank of China and China Banking Regulatory Commission will pay close attention to the development of real estate loan business of relevant banking financial institutions and urge them to take timely measures to correct abnormal growth.
In order to support the vigorous development of the housing rental market, at present, the People's Bank of China is working with relevant departments to formulate relevant opinions on housing rental financial business and establish corresponding statistical systems. At that time, the loans related to housing lease that meet the definition will not be included in the statistical scope of centralized management.
202 1 real estate loan investment ratio or contraction
For a long time, real estate loans have been regarded as high-quality assets by banks. Judging from the scale of loans invested by major banks in real estate, some banks may have touched the "red line".
The financial reports of listed banks show that by the end of June 2020, the balance of real estate loans of 36 listed banks reached 7.04 trillion yuan, an increase of 72,065,438+78 million yuan compared with the end of 20 19, with an increase of1.4%.
Judging from the categories of listed commercial banks, state-owned banks and joint-stock banks lend more to the real estate industry. By the end of June, 2020, the balance of real estate loans of state-owned banks and joint-stock banks totaled 3.66 trillion yuan and 2.7 1 trillion yuan respectively, accounting for 52.02% and 38.46% of the total real estate loans respectively.
At the same time, illegal real estate lending has been repeatedly banned. In the first half of 2020, China People's Bank Shenzhen Sub-branch and Shanghai Headquarters successively raided the situation of "illegal mortgage loan funds flowing into real estate".
Recently, Guo Shuqing, Chairman of the China Banking Regulatory Commission, pointed out that real estate is highly correlated with the financial industry, and real estate is the biggest "grey rhinoceros" among China's financial risks at this stage.
Guo Shuqing said that there is a deep connection between real estate and financial industry. Since the last century, 130 times of global financial crisis has been related to real estate. Before the subprime mortgage crisis in 2008, American real estate mortgage loans exceeded 32% of GDP that year. At present, China's real estate-related loans account for 39% of banking loans, and a large number of bonds, equity, trusts and other funds have entered the real estate industry.
All this means that the prevention and control of real estate financial risks should be paid enough attention.
The establishment of centralized management system of real estate loans is tantamount to setting up a "safety valve" for major banks to put in real estate loans and personal housing loans. "It is conducive to the formation of stable policy expectations by market players and to the stable, healthy and sustainable development of the real estate market." The People's Bank of China and the Banking and Insurance Regulatory Commission of China said in response to a reporter's question. At the same time, we will promote the structural reform of the financial supply side, strengthen the internal constraints of banking financial institutions, optimize the credit structure, support key areas of economic and social development such as manufacturing, science and technology, and financing weak links such as small and micro, agriculture, rural areas and farmers, and promote the balanced development of finance, real estate and the real economy.
"The establishment of a centralized management system for real estate loans has a good guiding role. After that, major banks will adjust the scale and proportion of real estate loans and personal housing loans to better implement housing and housing, which will help to better regulate the mortgage sector next year, prevent illegal lending, especially consumer loans, and prevent some even compliant loans from flowing into real estate too much, and introduce more funds into other fields, especially emerging industries and fields that are in urgent need of development in the post-epidemic era. " Yan Yuejin, research director of Yiju think tank, commented.