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CBRC: People who have no income due to the epidemic can reasonably postpone the mortgage repayment.
News from official website, China Banking and Insurance Regulatory Commission, China, 654381October 26th, China Banking and Insurance Regulatory Commission, China issued a notice, requiring banking and insurance financial services institutions to fully cooperate in the prevention and control of pneumonia in novel coronavirus.

The notice pointed out that for those who temporarily lost their income sources due to the epidemic, the credit policy should be appropriately tilted, the repayment arrangements of personal credit such as housing mortgage and credit card should be flexibly adjusted, and the repayment period should be reasonably postponed. ?

Wholesale and retail, accommodation and catering, logistics and transportation, cultural tourism and other industries that are greatly affected by the epidemic, as well as enterprises with development prospects but temporarily trapped, shall not blindly lend, cut off loans or pressure loans. Encourage relevant enterprises to overcome the impact of epidemic disasters by appropriately reducing loan interest rates, improving loan extension policy arrangements, and increasing credit loans and medium and long-term loans.

All banking regulatory bureaus and insurance regulatory bureaus, all policy banks, large banks, joint-stock banks, foreign banks, financial asset management companies, insurance group (holding) companies, insurance companies and insurance asset management companies, and all administrative units:

In order to resolutely implement the decision-making arrangements of the CPC Central Committee and the State Council and fully cooperate with the prevention and control work in novel coronavirus, the relevant matters concerning strengthening financial services in the banking and insurance industries are hereby notified as follows:

The first is to implement the epidemic prevention and control requirements. All banking and insurance institutions should fully assist the relevant departments and local governments in the prevention and control of novel coronavirus, and resolutely implement all work requirements. Strengthen the investigation of employee epidemic situation and do a good job in employee epidemic prevention. Regularly clean and disinfect counters, self-service machines and other facilities, and strengthen the health and epidemic prevention management of business outlets and offices. Adjust the work plan and evaluation requirements appropriately to reduce personnel gathering and centralized customer visits. ?

Second, ensure smooth financial services. All banking and insurance institutions shall, according to the needs of epidemic prevention and control work, reasonably arrange business outlets and time to ensure the stable operation of basic financial services and key infrastructure. For outlets that temporarily suspend business or adjust their business hours due to the epidemic, they should take the initiative to explain and provide alternative solutions. Encourage the active use of technical means to strengthen online business services throughout the country, especially in areas with severe epidemics, and improve the convenience and availability of services.

Third, open up a green channel for financial services. Banks and insurance institutions should further increase their support for epidemic areas, reduce or exempt handling fees, simplify business processes and open up fast channels. It is necessary to give full play to the joint efforts of bank credit, insurance guarantee and financing guarantee, and strengthen financial support for key areas of social livelihood. For those who have temporarily lost their source of livelihood due to the epidemic, the credit policy will be appropriately tilted, and the repayment arrangements of personal credit such as housing mortgage and credit card will be flexibly adjusted, and the repayment period will be reasonably postponed. Priority should be given to customers infected with novel coronavirus, and the scope of liability should be appropriately expanded to make full compensation. ?

Fourth, strengthen financial support for epidemic prevention and control. The insurance institutions of all banks should take the initiative to strengthen the service docking with relevant hospitals, medical research institutions and enterprises, and actively meet the reasonable financing needs in health and epidemic prevention, pharmaceutical product manufacturing and procurement, public health infrastructure construction and scientific research. In accordance with the principle of special handling and emergency handling, we will effectively improve the efficiency of business handling and provide high-quality and efficient comprehensive financial services for epidemic prevention and control. Encourage relevant units and staff in the front line of epidemic prevention and control to provide more preferential financial services. Do not use the epidemic to speculate on wealth management products.

Fifth, do a good job in financial services for trapped enterprises. Banks and insurance institutions should adjust regional financing policies, internal fund transfer pricing, performance appraisal methods and other measures to enhance the financial supply capacity in areas with severe epidemics. Wholesale and retail, accommodation and catering, logistics and transportation, cultural tourism and other industries that are greatly affected by the epidemic, as well as enterprises with development prospects but temporarily trapped, shall not blindly lend, cut off loans or pressure loans. Encourage relevant enterprises to overcome the impact of epidemic disasters by appropriately reducing loan interest rates, improving loan extension policy arrangements, and increasing credit loans and medium and long-term loans.