According to the news, the regulatory measures for Internet small loans that are being brewed clearly define the borrowers of Internet small loans. If the borrower of Internet small loan business requires to be a natural person, in principle, the upper limit shall not exceed RMB 200,000; If the borrower is a legal person or other organization, the upper limit shall not exceed 6,543,800 yuan in principle.
The regulatory measures also specifically mention that it is necessary to try to connect Internet small loans to the central bank's credit information system within two years. The above-mentioned Internet small loan related person said that from the consumer's point of view, online loans are mixed, and the use of many consumer loans is also very inconsistent. If you enter the credit information system, it is binding on consumers' financial loans or consumption behavior, and it is beneficial to the overall credit loan operation. From the perspective of online small loan institutions, I also hope to enter such a system.
Clear leverage ratio
In terms of registered capital, the news shows that the registered capital of Internet small loan companies is 500 million yuan, and the leverage ratio is 3-5 times; And offline lending is not allowed.
Network small loan license besieged city
However, it should be noted that the online small loan license is not a universal license, and the lending capacity is limited, and the industry as a whole is declining. In 20 18, the total number of online small loan approvals dropped sharply, with only three, mainly due to the tightening of regulatory policies of online small loan companies.
Xue Hongyan pointed out that from the perspective of industry influence, * *, which focuses on inclusive finance, has a clearer positioning with fund institutions, and its scale space is also strictly limited under the requirement of leverage ratio. However, strong supervision is helpful to reshuffle the industry, and leading institutions are more likely to enjoy the dividend of market differentiation in standardized and transparent operation. Compared with ordinary small loan companies, online small loan is a new model, which can be operated nationwide through the Internet, so it is necessary to introduce a unified supervision method.
Related Q&A: You can rest assured of the safety factor of P2P online lending system!
Related Q&A: 80% of P2P online lending platforms are out, and transactions in 65438+February are halved. Is P2P getting cold? I am a financial planner and internet finance columnist: Leshan Giant Buddha, and I am honored to answer this question. For the prospect of online lending, please refer to this article: Giant Buddha: Where should P2P go?
1, past lives of P2P
The essence of P2P is the online version of private lending, which is a part of offline private lending. This piece originated from paid loans between individuals and has a history of thousands of years since ancient times. In fact, it has always been protected by the laws of various dynasties. A well-done personal loan is called a money house in ancient times and a company or pawnshop in modern times. In 2007, the first P2P company in China went online, and some companies that were originally engaged in offline lending switched to online P2P, including CreditEase, which was originally engaged in offline lending business.
Because banks have high requirements on the qualifications of borrowers, if you want to borrow from banks, you must have sufficient collateral or high-quality personal credit, but in fact, people who are really short of money and in urgent need of money and small and medium-sized enterprises often do not have these qualifications, so it is difficult for them to borrow money from banks first, and then go to P2P companies to borrow money. It is for these reasons that the national positioning of P2P exists as a supplementary part of banks.
2. Advantages and disadvantages of 2.P2P
A group of cynics always think that P2P is a liar and a pest. Both investors who step on the thunder and those who are deeply involved in the P2P lending debt crisis like to label P2P. In fact, from a higher perspective, if there is no P2P, people who are in urgent need of money will go to those usury companies offline, the borrowing cost will be higher, there will be more routines, and they will be more easily deceived. As a lender, there is also a financial management method with low threshold and good income.
There are also good financial management methods offline, such as financing, private placement and trust. The problem is that these financial management thresholds are particularly high. Can ordinary people as small retail investors afford it? If you have no money to deposit in the bank, you will get a yield of about 3 points a year. However, because the rich have more principal, they are not rash. Even if the annual rate of return is 8%, the rich will only get richer over time. Under the snowball effect of wealth, the snowball of the poor is too small and will only get poorer and poorer under the gap. It will be more and more difficult for the poor to enter the rich class. It is precisely because of the existence of P2P that it gives the poor a step and makes them step into the next class faster. Although they may fall down in the process of climbing, it is more difficult to climb to the next level without this step.
There are always many online cynics who ridicule "local tyrants died in trust, middle class died in stock market, and diaosi died in P2P". In fact, most of those people didn't even buy trust, stock market or P2P. What they may see is that a product of a trust has defaulted, and the local tyrants stepped on thunder and blood, and then they stopped investing in themselves. Actually, they forgot to watch the follow-up. Even if the product breaks the contract, there are various measures to guarantee it. In the end, most of the principal and interest are guaranteed. The same is true for P2P. Just now, a platform has liquidity risk or just exchanged foreign exchange, and the unreasonable "great gods" laughed again. Look who stepped on the thunder again. How stupid. Then, look at me. I've never voted for P2P, so I won't be cheated and think I'm smart. In fact, those possible losses are only part of the interest earned by others, or even if the principal is hurt, it is very small. When the investment environment is good? When investors eat meat, you can only stand by and smell the meat.
Without P2P, offline private lending will be more rampant, lacking supervision and more unstable factors. Last year, the offline private lending in Shandong's case of humiliating mother was a classic case, in which the high lending interest rate and the real situation of small business owners were more than one word "miserable".
3. Is P2P banned or developed?
Because there are so many regulatory policies recently, there is always a policy, and some lenders mistakenly think that the state will ban P2P. Actually, this is an illusion.
P2P developed naturally around 20 15, but after the explosion of 2065 438+05e, the state accelerated supervision and rectification. 20 15 February, the draft of "peer-to-peer lending Interim Measures" was published, which almost doomed the country to be published. Individuals also saw that the country was preparing to legislate to protect P2P, and then began to build a personal WeChat official account: Giant Buddha Chatting on Internet Finance. On the afternoon of August 24th, 20 16, the Interim Measures of peer-to-peer lending was officially promulgated, giving 12 months of transition period, allowing major platforms to make rectification according to the Interim Measures of peer-to-peer lending.
To put it simply, the cost brought by management is actually much higher than the cost of banning, and it is best to have care and management.
4. Special rectification of mutual funds
As early as April 20 16, all localities were required to carry out special rectification of mutual funds, but there was only one draft for comments at that time, and the system was still in the trial stage. Because its offline wealth management stores were all over the streets in 20 15 and before, in the first half of 20 16, the main crackdown was P2P offline wealth management and down payment loans. After the promulgation of the Interim Measures of peer-to-peer lending, thirteen red lines came from behind.
However, on July 4, 20 18, the completion time of P2P (peer-to-peer lending) and online small loans was extended to June, 20 19. In fact, the rectification in this area has been postponed many times. Personally, as long as there are platforms that we all think are high-risk, this special rectification will continue, and there will be very few high-risk platforms that will survive in the future.
5. About next year's record
Regarding the relationship between special rectification and filing, for example, if you open a restaurant, the supervisor said that you should rectify and clean up first, and then we will issue you a hygiene license.
Now there is a similar phenomenon on the online lending platform. You haven't even finished the special rectification yet? Why should I put it on record? For your record, what should you do if your special rectification is not up to standard? Therefore, this future order should be rectified first, and there will be no problem after inspection. After a period of observation, there is no problem after the observation period, and whether to file a case may be considered.
Now back to the recent requirements of Shenzhen and Hangzhou, the outstanding balance of the platform and the total number of lenders must not increase.
Some time ago, a self-inspection report was submitted, and some platforms were inspected or rechecked by the Authority. There is no problem during the inspection. At this time, the regulatory authorities have given you another request, and your loan balance cannot be increased or even decreased. In fact, the process of reducing loan balance is often accompanied by a sharp increase in overdue bad debt rate, which is equivalent to the process of deleveraging of enterprises. This is also the observation period for testing the platform. If this deleveraging process does not encounter too obvious problems, it will be repeated in the future. At that time, after the autumn wind swept away the leaves, it was finally given that most of the platforms that borrowers left were also platforms with strong anti-risk ability. As long as the lender takes a long-term view, you can understand the good intentions of the regulatory authorities.
If you have to ask how long this observation period is, you can actually refer to the promotion time of those who have been included in the investigation or the key training objects in the system. The observation period like this is usually calculated in years. At the end of 65438+February this year, some platforms completed the on-site administrative audit. Even if there is no problem, the future investigation period is estimated on an annual basis, so the P2P filing delay estimation next year is also a high probability event.
6. What will 6.P2P look like in the future?
After the implementation of the "Ten Shareholder Responsibility System" of the National People's Congress, the cost of platform owners running away is getting higher and higher. At present, local financial offices even require platform executives to report weekly, and the actual controllers report to the financial offices every month, which has many restrictions on major shareholders. Careful readers can see how many bosses choose to run away even if they enter the platform with problems after 10. Most of them don't, but the choice is just a disguised exchange, or the project will pay off in two or three years. No matter whether it's just redeemed or extended, it's more or less paying back a part of the principal and interest, which is much better than those before, when the platform is put on file, the lender's funds are locked for three or five years, and then you will get a return of 1-30% after three or five years' judgment. In fact, the regulatory authorities do not want the problematic platform to directly explode or directly file a case. Disposal of platform assets in this way is too efficient and costly. In addition, it is not good for its own performance and social impact, and it is not good for investors. Do not file a case for the problem platform, let the platform boss be responsible for handling the compensated creditor's rights, and constantly clean up the compensation balance, thus reducing the impact of the platform mine explosion on society and being more conducive to social stability. This model will become a normal state in the future. In this case, even if we really can't do business in the future, this exit mode actually causes less losses to borrowers, especially for platforms with real business. In fact, in the process of deleveraging this year, most self-contained Ponzi platforms have exposed their own problems.
Finally, with the strengthening of supervision, the risk of online lending in the future will only continue to decrease and then decrease. No matter which wealth class, you can allocate some funds. Those with better capital channels will focus on other fields and use P2P as a tool for short-term capital turnover. If there is no better channel, it is actually a good choice to appropriately increase investment in P2P, make good choices and dispersion, and avoid greed, laziness and stupidity.
About the author: Leshan Giant Buddha, Internet finance columnist. Welcome everyone to pay attention to the personal WeChat official account: Giant Buddha Chatting Internet Finance (ID: lsdf628).