It is reported that the trust loan "sturm und drang" in the first half of 20 17 is essentially different from that in 20 13. A researcher of a trust company pointed out that 20 13 is the expansion period of off-balance-sheet business of banks, and the substantial increase in trust loans is only a microcosm; In 20 17, the off-balance-sheet financing of shadow banking changed to on-balance-sheet financing of banks, and some other social financing channels shrank, which forced the increase of trust non-standard financing.
The regulatory authorities believe that a large number of channel businesses are not conducive to financial deleveraging, and it is not conducive to trust companies to enhance their active management capabilities. Trust companies, especially large trust companies, should reasonably adjust the pace of channel business. In the five-year plan recently formulated by a central enterprise trust company, the scale of new channel business in the future has been greatly reduced.
According to the relevant regulations, when insurance funds invest in trust products, in addition to the qualification of trust companies that issue products, it is also stipulated that they can only invest in collective trusts. "Loans provided to others shall not exceed 30% of the paid-in balance of all trust plans managed by them". "Reduction" means that the scale of the industry may be reduced, but squeezing out bubbles, eliminating arbitrage and restraining leverage will help the funds really flow to the real economy.
People in the trust industry revealed that their company's insurance funds had been exhausted and they had to "borrow" from other trust companies. However, in the process of exhibition industry, many trust companies are also facing the same problem. With the tight amount of insurance funds accepted by the trust industry as a whole, the scale of trust loans that can be increased in the future is expected to decrease.