Estimated annual profit10.5 trillion yuan. What did China do?
Liu Guoqiang, deputy governor of the central bank, said that according to estimates, since 2020, the financial sector has reduced the burden on market players by more than 870 billion yuan in the first seven months by cutting interest rates, reducing fees and delaying repayment of principal and interest, and the support for small and micro enterprises has increased significantly. It is estimated that the burden on market players will be reduced by about10.5 trillion yuan in the whole year.
More than 870 billion, how did China do it? Can you finish the rest?
Liu Guoqiang introduced: First, cut interest rates and reduce the standard, reducing the burden by 470 billion yuan. Among them, LPR took the lead in lowering the loan interest rate by 354 billion yuan, refinancing and rediscounting supported the issuance of preferential interest rate loans by 37 billion yuan, and bond issuers supported the issuance of 79 billion yuan at the bond interest rate.
Second, there are two direct monetary policy tools, namely, inclusive micro-credit loan support policy, phased deferred debt service policy for small and medium-sized enterprises, and early deferred debt service policy, with a total burden reduction of 654.38+033.5 billion yuan. Among them, delaying the repayment of principal and interest can reduce the burden on enterprises by about 121500 million yuan, and support the issuance of inclusive microcredit to save the guarantee fee and other expenses for enterprises by about1200 million yuan.
Third, banks reduced the burden on market players by 204.5 billion yuan by reducing service charges.
Fourth, support enterprise restructuring and debt-to-equity swap to reduce the burden by about 66 billion yuan. In addition to these, the financial sector has also increased the disposal of non-performing loans by means of write-off, and borne the costs of market players with its own financial resources, which not only enhanced its ability to resist risks, but also contributed to the real economy.
Liu Guoqiang pointed out that from August to June, 65,438+February, the financial sector will continue to reduce the burden on market players by about 600 billion yuan, with a total reduction of/kloc-0.5 trillion yuan for the whole year. The calculation method is based on the current interest rate level, through dredging the interest rate transmission, to promote the loan interest rate to decline slightly, and to implement various policies that have been introduced.
Bank profit/bank profit reduction.
Affected by the epidemic, the net profit of commercial banks in the second quarter of this year decreased year-on-year, which attracted much attention. Does the bank's sustained profit mean that the bank's profit will decrease accordingly?
Liu Guoqiang responded that there is not a one-to-one relationship between the financial sector and the profit changes of commercial banks, let alone a zero-sum relationship. "It is not that reducing the burden10.5 trillion will reduce the profits of commercial banks accordingly."
Liu Guoqiang said that the loan income of commercial banks is determined by the loan interest rate and the number of loans. After reducing the loan interest rate, commercial banks will increase the demand for loans, which will lead to the expansion of the number of loans. When the price falls, the amount of loans will increase. "This will offset the decrease in income brought by commercial banks' reduction in loan interest rates. A large quantity can offset the impact of falling prices, and small profits are quick turnover. " He said.
In addition, Liu Guoqiang pointed out that the profit of commercial banks also depends on many factors such as the cost of capital and the disposal of non-performing loans. Since 2020, through the operation of monetary policy, the central bank has guided the overall interest rate of the market to go down, lowered the interest rates of refinancing and rediscounting, and reduced the capital cost of financial institutions. Although the interest rate of loans to enterprises has decreased, the interest rate of money borrowed by financial institutions has also decreased, and the spread has narrowed, but it has not narrowed so much, and the cost has decreased, which has also offset the decrease in profits of commercial banks.
Xiao, chief risk officer and spokesman of the CBRC, also said that the income of banks mainly consists of two parts, one is interest income, and the other is expense income. Fee income is an important part of bank income. Reducing fees and making profits in China Banking and Insurance Regulatory Commission, China is an important measure that has been advocated and urged in the past few years.
Reduce bank supervision requirements? That's self-deception
Affected by the epidemic, the downward pressure on the economy increased, and the profitability of the banking industry declined year-on-year.
As banks reduce the burden on the real economy and increase provisions, they will take the initiative to cope with the rising pressure of non-performing loans in the future. In the first half of this year, banking financial institutions realized a profit of 2.4 trillion yuan, a year-on-year decrease of 12%.
Is there pressure on bank capital? Should the requirements for bank capital be relaxed to some extent?
Liu Guoqiang said that as of the second quarter of this year, the capital adequacy ratio was 65,438+04.265,438+0%, down 0.43 percentage point from the beginning of the year. Although it is lower than the beginning of the year, it is far higher than the regulatory requirements of 65,438+00.5%, and there is no need to lower the regulatory requirements at present. Doing business requires capital, and it is very important to maintain sufficient capital. Even if the capital adequacy ratio declines in the future, it will not be satisfied by lowering the regulatory requirements. That's self-deception, but there must be real and rich means to replenish capital.
He said that in order to improve the ability of financial services to the real economy and enhance the ability to serve small and micro enterprises and "agriculture, rural areas and farmers", the People's Bank of China will work with relevant departments to promote the improvement of the institutional mechanism for bank capital replenishment and support banks to use innovative capital instruments such as perpetual bonds and secondary capital bonds to replenish capital through multiple channels. Promote the use of local government special bond funds to supplement the capital of small and medium-sized banks, deepen the reform of small and medium-sized banks, and improve the corporate governance structure and risk prevention and control mechanism that adapt to the characteristics of small and medium-sized banks.
Digital RMB officially launched "no timetable"
China's launch of digital currency has counted down? With the announcement of digital RMB pilot cities, the voice that China will launch digital currency has been heard all the time.
In this regard, Sun Guofeng, director of the Policy Department of the Central Bank, said that at present, the research and development of digital RMB is following the principle of "stability, security, controllability, innovation and practicality", and internal closed pilot tests are conducted in Shenzhen, Suzhou, Xiong 'an, Chengdu and future Winter Olympics scenarios to test theoretical reliability, system stability, functional availability, process convenience, scenario applicability and risk controllability. Therefore, at present, the digital RMB is still in the internal closed pilot test stage and has not been officially launched.
He said that in the next step, the People's Bank of China will continue to steadily promote the research and development of digital RMB, and there is no timetable for the official launch of digital RMB.