The amount of RMB bonds issued by Minsheng Bank, Shanghai Pudong Development Bank and Industrial Bank approved by the CBRC shall not exceed 50 billion yuan, 30 billion yuan and 30 billion yuan respectively, and all the funds raised must be used for loans to small and micro enterprises.
The relevant person in charge of Industrial Bank said that this move will help solve the problem of insufficient sources of loans for small and micro enterprises in the bank, ease the pressure on the bank in loan-to-deposit ratio, and help supplement the sources of medium and long-term liabilities.
According to industry experts, in the current situation that liquidity in the banking system is increasingly tense and the pressure of storage is increasing, issuing special financial bonds for small and micro enterprises can not only increase the credit line of small and micro enterprises in banks, but also enjoy the relaxation policy of loan-to-deposit ratio assessment, so commercial banks are more willing to apply for issuance.
While benefiting banks, this move will also allow small and micro enterprises to usher in "timely rain". Guo Tianyong, a professor of finance at the Central University of Finance and Economics, said that the financing difficulties of small and micro enterprises have become the focus of national attention, and small and micro enterprises will receive a credit line of 1 1000 billion yuan. It is not an exaggeration to say that it is "timely rain", which will improve the financing environment of small and micro enterprises to a certain extent.
Relevant persons from Minsheng Bank and Shanghai Pudong Development Bank said that all the funds raised from the issuance of special financial bonds for small enterprises and the trust network will be used to issue loans to small and micro enterprises with a single household of less than 5 million yuan (inclusive).
Industrial Bank said that the medium and long-term funds raised by issuing special financial bonds do not need to pay deposit reserve, and can be used to support the issuance of loans for small and micro enterprises, which will help alleviate the "financing difficulties" of loans for small and micro enterprises.
Regulatory policies in place
The specific issuance time, term, structure and price of special financial bonds for small enterprises can only be determined after approval by the People's Bank of China.
According to relevant personages in the industry, the Spring Festival from the end of 20 1 1 to 20 12 is the peak season for the production and marketing of small and micro enterprises, and the capital demand of enterprises is large. Relevant banks will be willing to formally issue the financial bonds before the end of 20 1 1, so as to replenish the loan lines of small and micro enterprises in time. However, before the end of 20 1 1, the overall capital cost is still high, and the cost of issuing financial bonds will not be too low.
"The cost of issuing bonds by banks is 4% to 6% per year, while the average capital cost of ordinary banks to absorb deposits is around 3%, and the cost of issuing bonds is higher than the cost of absorbing deposits. Coupled with the labor cost and the high non-performing rate loss cost of small and micro enterprise loans, the issuance cost of special financial bonds for small and micro enterprises is not low. " Zhao Qingming, a financial expert, said.
As an additional source of loans for small and micro enterprises, some market participants said that follow-up supervision must be in place. If the follow-up supervision measures are not in place, banks will use the raised funds for other purposes when the issuance cost is high. Regulatory measures in this regard have not yet been introduced, and it is necessary to speed up the development of a dynamic and continuous regulatory tracking mechanism.
Guo Tianyong believes that regulators should formulate corresponding measures to make the special financial bonds for small and micro enterprises "earmarked" and prevent banks from using the funds raised by issuing special financial bonds for small and micro enterprises to lend to local financing platforms, real estate industry and other investment businesses.
However, special financial bonds for small and micro enterprises are not' bailout funds', and commercial banks will operate according to market principles. "Zhao Qingming said," Follow-up regulatory policies must be in place, and at the same time, we must respect the laws of the market and not excessively compress the profit margins of banks.