65438+10.30, Beijing Banking Insurance Regulatory Bureau released a message saying that banks are required to conduct a comprehensive self-examination on the compliance of newly issued personal consumption loans and personal business loans from the second half of 2020. At the same time, the Beijing Banking Insurance Regulatory Bureau has set up a joint working group with the Business Management Department of the People's Bank of China and the Beijing Municipal Commission of Housing and Urban-Rural Development, and will go to banking institutions to carry out special inspections in the near future.
Coincidentally, on the evening of October 29th, 65438/KLOC-0, Shanghai Banking Insurance Regulatory Bureau issued the Notice on Further Strengthening the Management of Personal Housing Credit, requiring banks to strictly examine the source of down payment funds and solvency. Those who apply for personal housing loans due to illegal down payment or fraud should be rejected, blacklisted and submitted to the municipal public credit information service platform as untrustworthy information. And conduct a comprehensive self-examination of consumer loans, business loans and personal housing loans issued since June 2020.
Recently, the property markets in Shenzhen, Shanghai, Hangzhou, Guangzhou, Chengdu and other places are hot, and property prices have risen significantly, which has attracted the attention of relevant departments. As an important part of regulating the property market, the illegal entry of personal credit funds into the market has once again become a key target. At the same time, with the implementation of centralized assessment of personal mortgage, it is expected that personal mortgage will affect the incremental funds of personal mortgage from both quantity and price in the future.
Beijing and Shanghai strictly investigate personal credit funds.
Illegal entry into the real estate market
On the afternoon of October 30th, 65438/kloc-0, Beijing Banking Insurance Regulatory Bureau announced that it had asked all banks to conduct a comprehensive self-examination on the compliance of personal consumption loans and personal business loans newly issued since the second half of 2020, focusing on whether there were problems such as improper credit approval, inadequate entrusted payment management and inadequate post-loan management, which led to the illegal use of consumer loans and business loans to pay for house purchases, and asked all banks to immediately rectify the problems found and strengthen their internal management.
At the same time, the Beijing Banking Insurance Regulatory Bureau has set up a joint working group with the Business Management Department of the People's Bank of China and the Beijing Municipal Commission of Housing and Urban-Rural Development, and will go to banking institutions to carry out special inspections in the near future. Problems such as illegal inflow of consumer loans and operating loan funds into the real estate sector due to careless bank operation and inadequate internal control management will be dealt with seriously according to law once verified. The Beijing Banking Insurance Regulatory Bureau will also guide the Beijing Banking Association to take active actions in combination with the bank's self-examination and supervision and verification, and initiate a joint disciplinary mechanism for improper and illegal behaviors of individuals and intermediaries.
Beijing Banking Insurance Regulatory Bureau said that with the formal implementation of the mortgage concentration assessment at the beginning of the year, Beijing Banking Insurance Regulatory Bureau also implemented the real estate loan concentration management policy as required. On the basis of comprehensive consideration of the Bank's capital level, business development capability and the rationality of scientific measurement indicators, the Bank and the Business Management Department of the People's Bank of China have defined the upper limit requirements for the concentration of real estate loans of local Chinese-funded corporate banks within their jurisdiction, and urged relevant banks to steadily carry out real estate-related businesses on the premise of meeting the "just-needed" needs of capital residents.
In addition to the Beijing Banking Insurance Regulatory Bureau, the Shanghai Banking Insurance Regulatory Bureau recently issued a document proposing to effectively strengthen the management of credit funds. Attach great importance to the control of the use of credit funds and strengthen the use of early warning. It is forbidden to issue loans with no use, false use or suspicious use. Prevent consumer loans, commercial loans and other credit funds from being illegally diverted to the real estate sector. Prevent borrowers or entrusted payment objects from evading use management through unconventional large cash withdrawals and intermediary transition funds.
At the same time, strict business cooperation management of real estate intermediaries. Real estate agencies that provide down payment support to buyers and cooperate with "packaging companies" to help forge loan qualification certificates and income certificates should immediately terminate their cooperation and be blacklisted and submitted to Shanghai Banking Association.
Controlled growth of mortgage loans
It will lead to the contraction of credit supply this year.
Standardizing the real estate credit policy is an important starting point for stabilizing the property market. With the recent recovery of the real estate market, the personal credit policy has been further tightened. In addition to the above-mentioned strict investigation of commercial loans, consumer loans and other credit funds entering the property market illegally, as a formal channel for personal credit funds to enter the market, the new amount of personal housing mortgage loans is limited.
A state-owned banker told the Securities Times reporter that before the release of the mortgage concentration assessment, banks received instructions from the window one after another last year to control the growth rate of individual housing mortgage loans. Some banks even added zero personal housing mortgage loans that year. In the first half of last year, branches in some key cities of the bank used up the annual personal mortgage loan quota, and in the second half of last year, new demand could only be met through the relocation of existing mortgage loans.
At the same time, although the direct impact of mortgage concentration assessment on personal mortgage is to control the scale of new personal mortgage, the market generally believes that the interest rate of personal mortgage may rise on the premise of controllable scale. Recently, the four major banks of workers, peasants and China Construction collectively raised the housing mortgage interest rate in Guangzhou. Among them, the interest rate of the first home loan was raised from the original LPR+40BP (basis point) to LPR+55BP, and the interest rate of the second home loan was raised from the original LPR+60BP to LPR+75BP. After the change, the interest rate of the first home loan is 5.2%, and the interest rate of the second home loan is 5.4%. The bank's interest rate may be slightly adjusted on this basis.
Ming Ming, deputy director of CITIC Securities Research Institute, said that from past experience, credit growth rate is often the leading indicator of real estate price growth rate, and the policy layer usually regulates real estate prices through the contraction of credit supply and the supporting policies of restricting purchases and loans to prevent the emergence of real estate price bubbles. Of course, when the supply of real estate-related credit shrinks, the interest rate of real estate loans will also have upward momentum, thus "structurally" regulating real estate-related credit.
"However, the credit gap vacated by less mortgage loans cannot be completely compensated by other credit demand in the short term, and it is expected that the credit supply will show a steady contraction trend in 20021year". Clearly said.
Ren Zeping, president of Evergrande Economic Research Institute, said that since the end of last year, there has been a broad liquidity inflection point, but structural credit expansion has continued, medium and long-term corporate loans have continued to grow, and corporate loan interest rates have continued to decline. It is expected that macro-prudential management will be strengthened in 20021,and the central bank and financial supervision departments will structurally tighten financial and credit policies in three directions: real estate financing, local debt and shadow banking.