What is a housing credit bank? Overview of Housing Credit Bank
The housing credit bank is called the housing credit system in America. It belongs to the same federal institution as the agricultural credit system and the Export-Import Bank, including the Federal Housing Loan Banking Committee and its affiliated banks, the Federal Housing Mortgage Corporation, the Federal Housing Administration, the Federal National Mortgage Association and other institutions.
Japan calls it the residential financial treasury, which is the financial institution of the government.
In Britain, it is called the Housing Association, and its sources of funds are mainly the shares paid by the members of the association and the deposits absorbed (such financial institutions in the United States and Japan can issue bonds and accept government funds). All stocks and deposits absorbed by the HS have to pay interest, and the interest is usually higher than that of banks, and there are tax breaks, which makes the HS very attractive to small depositors; On the other hand, the deposit and stock interest absorbed by the HS are calculated on a daily basis and paid twice a year. However, many interests are not paid in cash, but interest payable is added to the original investment, which is equivalent to automatically increasing the inflow of funds. 90% of its assets are used as mortgage loans for the purchase of old and new houses, and 65,438+00% are used as land-secured loans and unsecured loans. The repayment period of this loan can reach 15-25 years, which is repaid by the borrower. There are two forms of repayment and interest payment. One is that the borrower repays the interest on a monthly basis and the principal is paid in installments. Generally, interest is paid in the first few years, and the principal and interest are paid in the remaining period, but the interest is calculated in descending order of principal. The other form is the combination of mortgage loan and borrower's term life insurance, and the borrower pays interest on a monthly basis and pays life insurance premiums at the same time; When the life insurance expires, the borrower will repay the principal of the mortgage loan with the insurance income due.
Limitations of the current housing finance system in China At present, the ratio of residents' income to housing prices is low, and the supply of high-grade housing exceeds demand. However, the gap of affordable housing for low-and middle-income groups is getting bigger and bigger, and the supply and demand of housing are seriously unbalanced. In view of this situation, recently introduced? Article 15 of the state? Clearly stated in? We should focus on the development of ordinary commodity housing. Since June 0, 2006, the newly approved and newly started commercial housing in Xing Tao with a building area of less than 90 square meters (including affordable housing) must reach more than 70% of the total development and construction area. ?
The housing finance system adopted in China belongs to the provident fund housing finance system with compulsory savings. By the end of 2005, the accumulated amount of housing accumulation fund in China was 975.95 billion yuan, and the actual number of employees paid in was 63.297 million. As of May, 2006, employees in Tianjin paid a total of 38.377 billion yuan of housing provident fund and issued 28.605438 billion yuan of personal housing provident fund loans. In 2005, 5.692 billion yuan of personal provident fund loans were issued, and 6.54 billion yuan of bank portfolio loans were promoted accordingly.
It can be seen that according to the current housing provident fund system, although the housing provident fund has effectively promoted the sales of commercial housing, its coverage is limited, the deposit amount is fixed, and the loan amount is limited, which is not effective in supporting low-and middle-income workers to buy houses. In particular, access to provident fund loans needs to be limited by the time and amount of deposit, and residents' initiative is weak. Therefore, provident fund loans are difficult to meet most of the housing needs, so many buyers have to choose commercial mortgage loans with higher interest rates, which increases the repayment burden and enhances the credit risk of commercial banks.
First of all, the housing credit bank supplemented the service scope of the provident fund, including private enterprises and? Sanzi? Employees of enterprises and foreign institutions in China, individual businessmen and farmers who buy houses in cities and towns are excluded from the service scope of housing provident fund, and housing credit banks are facing these groups; The second is to supplement the provident fund in terms of the amount of funds. Due to the short time of the establishment of the provident fund, the wages of employees are generally low, and the accumulation of the provident fund is very limited. At the same time, the housing provident fund also stipulates the maximum loan amount, which is difficult to meet the housing financing needs of most people. Housing savings provide residents with a way to accumulate housing funds and finance, which can make up for the shortage of accumulated provident fund and loans.
Sino-German Housing Savings Bank, the first housing credit bank in China, is the first housing credit bank in China (Housing Savings Bank), which officially opened on February 6, 2004. It is a bank jointly invested by China Construction Bank and Schwaetzer Bihar Housing Savings Bank.
The Chinese side of Sino-German Housing Savings Bank is China Construction Bank Co., Ltd., which is a large-scale joint-stock commercial bank with great influence at home and abroad, with a broad customer base and market resources and strong comprehensive competitiveness. The foreign joint venture company of Sino-German Housing Savings Bank is Schwaetzer-Bihar Housing Savings Bank Co., Ltd., which is the largest and most successful professional housing savings bank in Europe. Its joint venture banks in other European countries all occupy a leading position in the housing finance market of the host country. Sino-German Housing Savings Bank will start its business in Tianjin first, and then gradually spread to the whole country.
The birth of Sino-German Housing Savings Bank embodies the painstaking efforts and expectations of the Chinese and German governments and senior shareholders. The significance of introducing this project is different from ordinary economic projects. It embodies the cooperation between the two governments in the fields of national economy and social security system, and is helpful for the promotion of our government? Building a harmonious society? The realization of the goal. And this is precisely because of the exclusive business of Sino-German Housing Savings Bank? The characteristics of housing savings products determine.
Deposit before lending, fixed interest rate, earmarking, closed operation? These unique characteristics determine the important role of housing savings products:
1) promotes the development of the national economy while curbing inflation.
Deposit first and then lend? Will the funds that should be used for short-term deposits or instant consumption be concentrated in the long-term housing savings fund, loan funds (deposits plus loans)? Earmarking? It is limited that housing savings funds can only be used for housing purposes. These short-term funds are converted into long-term investments, thus reducing the impact of short-term money markets on inflation. Closed operation? It also determines that the funds used for loans only come from the funds accumulated in advance for the purchase of houses, and will not lead to the issuance of additional currency by the state. In addition, by continuously investing the funds accumulated by housing savings into the housing industry economy, it will promote the development of related industries and provide considerable employment opportunities, thus promoting the development of the national economy.
2) Improve the living conditions of residents and promote social stability without increasing the burden on the government.
Home ownership? This is one of the goals that the government strives to achieve. Housing savings provide a safe and reliable housing financial tool for ordinary people. By organically combining the accumulation of self-owned funds with financing means, individuals can be stimulated to accumulate housing funds so that they can invest in housing. This can not only improve the living conditions of residents themselves, but also reduce the heavy tasks and burdens of national housing construction. Therefore, it is the pride of Sino-German Housing Savings Bank to provide housing savings products that combine economic benefits with social benefits and promote the virtuous cycle of economic and social development, and it also casts the lofty attributes of the occupations that Sino-German Housing Savings Bank is engaged in.
The management system of Sino-German Housing Savings Bank is the president responsibility system under the leadership of the board of directors. The board of directors is the highest authority and is responsible for deciding all major issues of the company; The president is fully responsible for the daily operation and management, reporting to and under the leadership of the board of directors. ? Clear responsibilities, scientific management, strict internal control and long-term safe operation? This is the governance structure that the company is committed to establishing.
Initiated by Sino-German Housing Savings Bank? Team spirit, honesty and trustworthiness, risk control, performance orientation, continuous innovation, flexibility and efficiency? Corporate philosophy. It will devote itself to organically combining the successful experience, advanced technology and service concept of Shi Hao Bank with the advantages of China Construction Bank, such as good social reputation, rich human and network resources and understanding of the local market, so as to serve the society wholeheartedly and realize the complete success of its lofty cause.