In order to promote the healthy and sustainable development of the real estate industry, the People's Bank of China decided to adjust the personal housing loan policy of commercial banks from March 7, 2005:
First, the current preferential interest rate of housing loans will be restored to the loan interest rate level of the same period, and the lower limit management will be implemented. The lower interest rate level is 0.9 times of the benchmark interest rate of the corresponding term and grade loans. As a legal person, commercial banks can independently determine the interest rate level and internal pricing rules according to specific conditions. Taking individual housing loans with a term of more than five years as an example, the lower limit of interest rate is 0.9 times of the benchmark interest rate of 6. 12% (that is, 5.5 1%), which is 0.20 percentage points higher than the current preferential interest rate of 5.3 1%.
Second, for cities or regions where real estate prices are rising too fast, the minimum down payment ratio of individual housing loans can be increased from the current 20% to 30%; The specific adjustment of the city or region can be determined by the commercial bank legal person according to the real estate price increase announced by the relevant state departments, and it is not allowed to be across the board.
At the same time, the interest rate of excess reserve deposits of financial institutions in the People's Bank of China was lowered from the current annual interest rate of 1.62% to 0.99%, and the interest rate of statutory reserve deposits remained unchanged at 1.89%.
As a pillar industry of national economy, the real estate industry has played a great role in expanding domestic demand and promoting consumption, and financial institutions will continue to support the healthy and sustainable development of the real estate industry. This policy adjustment is conducive to the formation of a more reasonable expectation of future capital prices from the demand side. Incorporating the personal housing loan interest rate of commercial banks into the normal loan interest rate management will help commercial banks strengthen risk management and improve the pricing mechanism.
Excess reserve deposit is the part that financial institutions deposit in the People's Bank of China that exceeds the statutory reserve. It is mainly used to pay the reserve for liquidation, position allocation or use as assets. With the electronic finance and the improvement of the efficiency of the People's Bank of China's large payment clearing system, the liquidity management level of commercial banks has improved significantly. Lowering the interest rate of excess reserve is conducive to promoting commercial banks to further improve the efficiency of capital use and liquidity management, and steadily promote the marketization of interest rates; It is beneficial to straighten out the interest rate relationship of the central bank, optimize the interest rate structure of reserve deposits, and enhance the scientific and effective operation of monetary policy.
The direct purpose of bank loan is to recover the principal and interest in time and in full according to the agreement and realize the income. In the process of issuing loans, any risk factors may ultimately affect the realization of loan income. What banks pursue is not pure profit, but benefit. This "benefit" includes both economic benefits and social benefits including environmental benefits.
The principle of safe operation of banks is closely related to the environmental risk of loans. Obtaining corporate environmental governance information is of great significance for commercial banks to build a good credit risk management environment. China has learned a profound lesson in environmental issues and credit security. It is reported that in 1996, the state closed nearly 1000 chemical pulp and paper mills along the Huaihe River in order to control serious environmental pollution. There are 42 small paper mills in Huaibei City, Anhui Province, and the loans lost by financial institutions in Huaibei City due to environmental pollution control factors are close to 350 million yuan. It can be seen that sharing the environmental information system with the financial sector and ensuring the linkage between environmental protection and financial credit will be a win-win situation for environmental protection and financial security.
Close cooperation between environmental protection departments and financial institutions can not only achieve environmental protection goals, but also prevent credit risks, thus achieving the effect of "killing two birds with one stone". Banks restrict pollution projects through credit, which will effectively promote the development of projects in line with industrial policies. International policy banks such as the World Bank and the Asian Development Bank have very strict restrictions on credit that affects the environment, and have formed a relatively mature policy system abroad.
A good policy can only be effective through effective implementation, and the key to policy implementation lies in information sharing and supervision of relevant functional departments. Only by strengthening the convergence of policies and ensuring that the supervision and management departments can rely on sufficient basis to achieve real linkage can the effective implementation of policies be guaranteed.
It is an urgent task for environmental protection departments, banks and CBRC to exchange information fully and timely, firmly grasp first-hand information, inform each other of relevant regulations and systems, and establish operational procedures and measures to ensure the effective implementation of green credit policy. It is necessary to formulate supporting policies, measures and standards, emphasize interrelation, clarify the connection between review and supervision, and eliminate institutional loopholes. Not only should the banking department fully understand the legality of EIA procedures and EIA documents, but also the notice of polluting enterprises should be conveyed to the banking department in a clear way; We should not only let the banking department see the workflow of the environmental protection department, but also let them know and understand it. The banking department should also actively cooperate with the environmental protection department to transmit the credit information of relevant enterprises to the environmental protection department in time, so that the environmental protection department can keep abreast of the enterprise dynamics and intervene in supervision in advance.
The implementation of environmental and economic policies requires the joint efforts of relevant departments, which not only comes from the knowledge of * * *, but also comes from the smooth connection of work between departments after eliminating professional cognitive barriers.