Original title: personal home loan consumer loan deferred principal and interest payments affect credit records? How is the implementation of the special refinancing? This conference is full of dry goods!

Recently, the State Council issued a package of policy measures to stabilize the economy, launching 33 measures in six areas.On June 2, the People's Bank of China and the Foreign Exchange Bureau held a press conference to explain the financial policies related to stabilizing the economy. Together with the attention!

Q1

Q: What are the differences and similarities between the implementation of deferred debt servicing for loans to small and medium-sized micro-enterprises and self-employed industrial and commercial households, truck and car loans, and consumer loans for personal housing loans that are temporarily in trouble, and the debt servicing policy implemented by the banks that have been previously instructed?

A:

Compared with the previous policy, the extension policy put forward by the National People's Congress this time has several main features:

One is that the policy support is stronger. extension support tool expires, approved by the State Council, starting this year, the People's Bank of China in accordance with the market-based approach to successive converted to universal small and micro-credit support tool, on the eligible universal small and micro-credit loan balance incremental 1% to provide funding incentives, which includes the extension of the loan growth brought about by the debt servicing. Recently, in response to a new round of epidemic impact, the National Standing Committee decided to increase the proportion of funding support from 1% to 2%, to further mobilize financial institutions, while making it clear that deferred loans adhere to substantive risk judgment,not individually due to the epidemic factors to downgrade the risk classification of the loan, and does not affect the credit record.

The second focuses on the initiative of banks. This time, the policy makes it clear that commercial banks will negotiate independently with the distressed subjects in accordance with the market-oriented principle, and implement the extension of debt repayment and interest payment for the loans that will expire before the end of this year. This time the PBoC also asked the bank to contact the enterprise in advance, proactive docking extension demand, and strive to do should be extended as far as possible.

The third is the expansion of the policy benefit. This time the policy support object clearly increased by the epidemic affected by the serious truck drivers and other people, will be truck driver loans, commercial trucks, consumer loans and personal housing, consumption and other loans into the scope of the extension. In particular, for the much-anticipated truck drivers,as long as they put forward the loan extension application, and no record of default, with the driving license and other basic supporting materials, the bank can be in accordance with the principle of market-oriented, to give the extension. The State Council executive meeting proposed that the automobile central enterprises issued 90 billion yuan of commercial truck loans, to bank enterprises to extend the debt service, the extension of qualified banks to support the central enterprises truck loan extension, will be included in the 100 billion yuan of transportation and logistics refinancing support.

Fourth, innovative support methods. Currently about 60% of the truck loan issuance body is the automobile group finance companies, automobile finance companies and financial leasing companies. These three types of non-bank financial institutions to respond positively to the policy of deferred debt service, but this may also cause some liquidity pressure on them, in order to solve their worries, the People's Bank of China in a timely manner to guide the three types of institutions innovation of the launch of the theme of the freight logistics financial bonds, used to truck owners and related logistics enterprises to provide loan deferred debt service and succession, the new investment The support of funds to ensure that they better implement the policy.

Q2

Q: In what areas will the next phase of increasing the implementation of prudent monetary policy be focused?

A:

The first is to enhance the stability of the growth of total credit. The comprehensive use of a variety of monetary policy tools to increase liquidity investment, to maintain a reasonable abundance of total liquidity. Early completion of the full year to pay up the balance of profits. Guiding financial institutions to accelerate credit investment of granted loans in accordance with market-oriented and prudent operation principles, actively tapping new project reserves, increasing loan investment in the real economy, keeping the growth rate of money supply and social financing scale basically matching with the nominal economic growth rate.

The second is to highlight the key areas of financial support. Increase support for inclusive small and micro loans, and increase the proportion of incentive funds provided by the PBoC through the Inclusive Small and Micro Loan Support Tool from the second quarter of 2022 from 1% to 2%. Incentive funds will be provided to financial institutions in accordance with 2% of the incremental increase in the balance of inclusive small and micro loans. While making good use of the support tools for clean and efficient use of coal, scientific and technological innovation, inclusive pension, transportation and logistics special refinancing and carbon emission reduction support tools, increasing the civil aviation emergency loan quota by 150 billion yuan, and appropriately expanding the scope of support, and intensifying the relief support for civil aviation and other enterprises that are greatly affected by the epidemic. Increase the credit line of policy banks to drive commercial banks and social capital to support the financing of infrastructure construction. Small and medium-sized enterprises and individual industrial and commercial loans, truck car loans, personal home loans consumer loans that are temporarily experiencing difficulties, support banks to extend the repayment of principal and interest during the year.

Thirdly, we will continue to promote the reduction of enterprise financing costs. Deepen the LPR reform, play a good role in guiding the LPR, implement the adjustment mechanism for the marketization of deposit interest rates, stabilize the cost of bank liabilities, drive a steady decline in corporate lending rates.

Q3

Q: How to increase financial institutions' support for infrastructure?

A:

The People's Bank of China is focusing on both supply and demand for credit, guiding financial institutions to strengthen docking with key projects in accordance with the principles of marketization and the rule of law, and pushing projects to start as soon as possible and speed up construction.

One is to strengthen the docking between the government and enterprises. Strengthen transportation, energy, water conservancy, information, science and technology, logistics, urban, agricultural and rural, national security and other infrastructure. Focusing on these key areas, the PBoC will cooperate with the Development and Reform Commission, the Ministry of Water Resources and other relevant ministries and commissions to sort out the list of key projects and provide effective demand for financial institutions to issue medium- and long-term loans.

The second is to play the role of policy development banks. The increase of 800 billion yuan credit line of policy development banks, guidance policy development banks to accelerate the project reserves, grasp the task of decomposition, strengthen the assessment of incentives, optimize the loan process, to improve the capacity of the infrastructure field of loan investment.

The third is to leverage commercial banks and social capital to increase financing support. To give full play to the advantages of state-owned large commercial banks, joint-stock banks and other own advantages, increase credit investment through syndicated loans and other ways. Support financial institutions through the purchase of special bonds, PPP mode, and local governments, social capital, *** with the support of infrastructure construction.

Q4

Q: What is the implementation status of special refinancing?

A：

In recent years, the PBOC has created a variety of structural monetary policy tools based on the traditional agricultural and small-scale refinancing loans to incentivize the optimization of the credit structure of the commercial banks around the support of financial inclusion, green development, scientific and technological innovation, and other key areas of the national economy and the weak links.

One is the agricultural and small-support refinancing loan. Since 2022, the PBOC has merged the 400 billion yuan quota of the previous two years' credit loan support program for inclusive small and micro-enterprises into the management of refinancing for supporting agriculture and small and micro-enterprises, guiding the local legalized banks to increase the credit investment in "three rural areas" and small and micro-enterprises,especially strengthening the support for industries that are affected by epidemics. The company's business is also a major player in the market, with a strong presence in the market and a strong presence in the market," he said.2022 At the end of April, the balance of the nation's agricultural and small-scale refinancing loans was 1.86 trillion yuan, an increase of 529.4 billion yuan from the same period last year.

The second is the universal small and micro loan support tool. This is the conversion of the first two years of the extension of support tools for inclusive small and medium-sized loans. In accordance with the requirements of the State Council executive meeting, the second quarter of this year began to incentive funds from 1% to 2%. The design of this tool as far as possible to balance risk prevention and incentives to continue to expand the surface, the incremental considerations, but also requires commercial banks to continuously improve the wind control capabilities.

Third, the carbon emission reduction support tool and support for the clean and efficient use of coal special refinancing. In early May 2022 the People's Bank of China added a new quota of 100 billion yuan on top of the original 200 billion yuan of special refinancing to support the clean and efficient use of coal, specifically to support the development and use of coal and enhance the capacity of coal reserves. By the end of May 2022, a cumulative total of 210.8 billion had been issued under the two instruments.

Fourth, three new special refinancing loans have been created. In April this year, two special refinancing loans were created for science and technology innovation and universal pension, and in May, a special refinancing loan for transportation and logistics was created to specifically support enterprises and individual entrepreneurs operating in road cargo transportation and give priority to supporting the financing needs of truck drivers.

Q5

Q: How to ensure the standardization of the use of special refinancing funds?

A:

In order to guarantee the precision and directness of the refinancing tool, the PBoC has established "independent lending by banks and ledger management, after-the-fact reimbursement by the central bank and total volume limit, and clear usage by relevant departments and random spot checks " mechanism.

The scope of support of the special refinancing policy is determined by the cooperation of various departments, playing to their respective strengths and forming policy synergies. Financial institutions apply for refinancing from the PBOC after independently issuing loans in accordance with the principles of marketization and rule of law. People's Bank of China issued refinancing loans to financial institutions in accordance with the mode of "lending first and borrowing later", not directly to enterprises. The industry authorities, together with the financial sector, will conduct random checks after the fact, and the audit and social supervision will follow up afterwards. If it is found that the financial institutions' loans have exceeded the scope of support, they will take measures such as making up the difference and withdrawing the refinancing, so as to prevent the banks from illegally withdrawing the refinancing funds.

Q6

Q: How to enhance the facilitation of cross-border trade and investment and financing?

A：

A：

A：

I'm going to increase the support of foreign exchange to help enterprises to alleviate their difficulties. Expand the pilot program of trade foreign exchange balance facilitation for high-quality enterprises to the whole country, while enhancing the settlement convenience of new forms of cross-border trade. The new trade forms such as cross-border e-commerce, overseas warehouses, offshore trade, etc. are also being promoted to the public, and the new trade forms are also being promoted to the public. Broaden the cross-border financing channels for small and medium-sized high-tech enterprises and "specialized, special and new" enterprises, and improve the facilitation level of cross-border financing.

The second is to serve all kinds of market players, especially small and medium-sized enterprises to manage exchange rate risks, and to take measures to reduce the cost of hedging and preserving the value of enterprises.

Thirdly, the opening up of the financial market will be promoted in a steady and orderly manner. The People's Bank of China, the China Securities Regulatory Commission (CSRC) and the Foreign Exchange Bureau (FXB) jointly issued an announcement a few days ago to unify the access standards of the interbank and exchange bond markets, simplify the process of entering the market, and facilitate the investment of foreign institutional investors in China's bond market.