The rapid growth of real estate loans has been effectively controlled under the tone of "housing and not speculation" and strict law enforcement by the financial supervision department. It is worth noting that small and medium-sized banks in some areas take advantage of the withdrawal of big banks to compete for market share of real estate loans. Insiders pointed out that the financial supervision department will strengthen the supervision of non-standard investment and off-balance-sheet business of small and medium-sized banks, and may also implement list management for banks with a relatively high proportion of new real estate loans.
Strictly control the financial risks of real estate.
Recently, the real estate regulation and control policies have been strengthened, and it has become an important content of many real estate financial regulation and control policies to curb capital loopholes, standardize market order and implement regulation and control requirements.
The financial supervision department has repeatedly voiced its opposition to real estate finance. On July 30th, the the Political Bureau of the Communist Party of China (CPC) Central Committee meeting reiterated that houses should be used for living, not for speculation, to stabilize land prices, house prices and expectations, and to promote the stable and healthy development of the real estate market. 202 1 The central bank working conference in the second half of the year pointed out that the prudent management system of real estate finance should be implemented. The CBRC's mid-year work meeting made more explicit requirements, and proposed that the requirements of "three lines and four files" and the concentration of real estate loans would be strictly implemented to prevent bank insurance funds from illegally flowing into the real estate market.
The China Monetary Policy Implementation Report 20021Second Quarter recently issued by the central bank points out that it is necessary to maintain the continuity, consistency and stability of real estate financial policies and implement a prudent management system for real estate finance.
The multi-bank insurance regulatory bureau has recently made arrangements for real estate financial supervision. For example, Tianjin Banking Insurance Supervision Branch proposed to strictly control the financial risks in the real estate market and strictly implement the requirements for centralized management of real estate loans. Anhui Banking Insurance Supervision Branch requires strict implementation of "three lines and four files" and real estate loan concentration requirements to prevent bank insurance funds from bypassing the rules and flowing into the real estate market. The Shanghai Banking Insurance Regulatory Bureau said that the next step will be to further curb the real estate financialization bubble, combine the actual situation in Shanghai, and make precise policies to promote the stable and healthy development of the real estate market.
Ren Tao, a distinguished researcher at the National Finance and Development Laboratory, believes that the frequent introduction of policies by the regulatory authorities to prevent funds from illegally flowing into the property market is mainly due to the fact that the real estate industry has absorbed too many financial resources. Strengthening the supervision of real estate finance will help to promote commercial banks to pay more attention to economically weak areas such as small and micro, agriculture, rural areas and farmers, green manufacturing, scientific and technological innovation and key areas encouraged by the state. At the same time, pushing the economy away from reality will help promote the balanced development of finance, real estate and the real economy, and avoid the financial and real estate industries from excessively deviating from the development track of the real economy.
Punish illegal funds with heavy punches
With the continuous tightening of policies, the financial supervision department has made unprecedented efforts to investigate and deal with the illegal inflow of loan funds into the real estate market. Recently, key cities including Shanghai, Guangdong and Ningbo have intensively disclosed fines related to housing credit, and some cities have also carried out special inspections.
Judging from the reasons for punishment, the illegal facts of the punished institutions mainly include the illegal inflow of credit funds such as personal business loans and personal consumption loans into the property market, and the illegal investment and wealth management funds of peers into real estate projects with incomplete "four certificates".
For example, Guangdong Banking Insurance Regulatory Commission recently issued 12 consecutive fines, and 12 branches and 10 responsible persons of four banks of Industrial and Commercial Bank of China, Industrial Bank, China Merchants Bank and Guangfa Bank were fined, with a total fine of/kloc-0.09 million yuan, all involving illegal business loans and consumer loans flowing into the real estate sector. The Shanghai Banking Insurance Regulatory Bureau disclosed that the Bank of Shanghai was fined 4.6 million yuan for "the compliance review of inter-bank investment of real estate enterprises seriously violated prudent commercial rules" and "some personal loans were illegally used to purchase houses". Agricultural Bank of China Yunnan Branch illegally issued loans to real estate development enterprises through non-real estate development loans, illegally issued false mortgage loans and other illegal facts 13, and was fined 4.2 million yuan.
On July 16, the CBRC also issued a huge fine of nearly 300 million yuan to five banks, including Minsheng Bank and Shanghai Pudong Development Bank, many of which involved illegal "blood transfusion" in real estate.
In addition to issuing tickets, some key cities also organize in-depth investigations within a certain scope. Take Shenzhen as an example. On August 7th, Shenzhen financial supervision department released data showing that up to now, after several rounds of rolling investigation and supervision verification, * * found that 2155 million yuan of business purpose loans illegally flowed into the real estate sector.
Why do commercial loans and consumer loans illegally flow into the housing market? Yif Wang, chief analyst of the financial industry of Everbright Securities, pointed out that on the one hand, due to the strong willingness of banks to lend, domestic real estate loans have the characteristics of "high quota, long cycle, high interest rate, low non-performing rate and excellent collateral", and the cost of risk control management is low, which is a high-quality asset favored by banks. On the other hand, it is difficult to monitor the use of post-loan funds, especially the flow of operating loans, the scale of which is significantly higher than that of consumer loans, which is more attractive to real estate speculators.
Small and medium-sized banks have become key regulatory targets.
The rapid growth of real estate loans has been effectively controlled under the tone of "housing and not speculation" and strict law enforcement by the financial supervision department. According to the data of the China Banking Regulatory Commission, as of the end of June, real estate loans increased by 9.8% year-on-year, and the growth rate reached an eight-year low; The concentration of real estate loans dropped from the high point of 29.2% in 20 19 to 28.2% at the end of June. Although the trend is improving, there is also a new trend in the market, that is, some local small and medium-sized banks use the opportunity of big banks to withdraw and compete for market share of real estate loans.
In this regard, Yif Wang said that due to the low level of risk management, weak anti-risk ability and few means of risk disposal, small and medium-sized banks may be more impacted by the "grey rhinoceros" risk in the real estate sector and need to be properly controlled.
The regulatory authorities have made it clear many times that the supervision of small and medium-sized banks will be strengthened in the next stage. Liu, deputy director of the Propaganda Department of the China Banking Regulatory Commission, said earlier that the CBRC attaches great importance to this issue and will implement list management for banks with a relatively high proportion of new real estate loans, and urge these banks to implement real estate financial regulation requirements and reasonably control the growth rate of real estate loans. The central bank's operation and management department's working meeting in the second half of the year also clearly stated that centralized management of real estate loans of local corporate banks will be strengthened.
Ren Tao predicted that in the next stage, on the one hand, the financial supervision department will strengthen the supervision of non-standard investment and off-balance-sheet business of small and medium-sized banks, implement penetrating and list management with reference to ordinary credit, and require non-standard investment and off-balance-sheet credit to return to traditional on-balance-sheet credit for unified management. On the other hand, banks with a relatively high proportion of new real estate loans can also be managed by a list system to urge them to implement the requirements of real estate financial regulation.