On March 12, the Shanghai headquarters of the People's Bank of China (PBOC) issued the Shanghai Credit Policy Guidelines 2021 (the Guidelines), requiring financial institutions to reasonably control the growth rate and proportion of real estate loans, and to effectively guard against the illegal inflow of consumer loans and business loans into the real estate market.
Photo source: official website of the Shanghai headquarters of the People's Bank of China
In this regard, industry insiders pointed out that operating loans, consumer loans and other loans under the cloak of entity financing, illegal entry into the real estate market, which will lead to the social capital "out of the real to the virtual", small and medium-sized micro-enterprises, "financing difficult, expensive financing" problem is even more serious. The problem of "financing difficult, financing expensive" more serious, will also promote the property market investment speculation, leverage speculation. As a bank, once found that the credit fund violations, can require early repayment of loans. "Pumping loans" for speculators to hit the larger.
Shanghai local banks comprehensive self-check
"Guidelines" pointed out that, in order to implement the requirements of the People's Bank of China's credit policy in 2021 and the key tasks, to guide financial institutions under the jurisdiction to further optimize the structure of the credit, and to effectively enhance the ability to serve the real economy. 2021, the financial institutions under the jurisdiction to continue to do a good job in financial support of the stable In 2021, financial institutions under their jurisdiction should continue to do a good job in financial support for stabilizing enterprises and preserving employment, and continue to improve the financial service capacity of small and micro enterprises and private enterprises; strengthen financial support for scientific and technological innovation, manufacturing and green low-carbon industries; actively serve the implementation of the national strategy of high-quality integrated development of the Yangtze River Delta, support the development of key industries in the new Lingang area, play the role of the regional cooperation platform of the G60 Science and Technology Innovation Corridor, and strengthen the docking of production and financing; continue to serve the implementation of the strategy of rural revitalization, and strengthen the support for all kinds of It will also continue to serve the implementation of the rural revitalization strategy, increase support for various types of entrepreneurial groups, and further improve financial services for people's livelihood.
The Guidelines also emphasize that financial institutions should reasonably control the growth rate and proportion of real estate loans, strictly implement the differentiated housing credit policy, give priority to supporting the first set of housing demand, strengthen the management of personal housing loans, strictly review the authenticity of the personal information of the borrower, and effectively prevent the flow of consumer loans and business loans into the real estate market in violation of the law.
Prior to this, the Shanghai Banking and Insurance Regulatory Bureau (SBIRB) issued the "Circular of the Shanghai Banking and Insurance Regulatory Bureau on Further Strengthening the Management of Individual Housing Credit", which requires commercial banks to conduct a comprehensive self-inspection of consumer loans, operating loans and individual housing loans issued since June 2020, and to report to SBIRB before February 28, 2021 with the report of the self-inspection and rectification. The next step will be to take supervisory measures in accordance with the law for any violations found.
Li Yuga, chief researcher of Guangdong Housing Policy Research Center, analyzed that business loans, consumer loans and other loans in the guise of entity financing, illegal entry into the property market, which will lead to the social capital "off the real to the virtual", small and medium-sized micro-enterprises, "financing difficulties, financing expensive The problem of "difficult and expensive financing" for small and medium-sized enterprises will become more serious. In addition, it also promotes investment speculation in the property market, leverage speculation, contrary to the top-level design of "housing without speculation", which is absolutely not allowed by the regulatory layer. Strictly investigate the operation of the loan, so that the implementation of the second-hand guide price policy more effective, will form the effect of the property market deleveraging, is conducive to controlling the price of new homes, the formation of regulatory synergy.
Multiple places to strictly control the illegal inflow of credit funds into the property market
China Securities Journal reporter combed through and found that, in addition to the Shanghai area, Hangzhou, Hainan, Guangzhou and other hot spots in the property market are also clear strict control of consumer loans, operating loans illegal inflow of real estate market.
March 3, Hangzhou real estate market steady and healthy development of the leading group office issued a "notice on the further standardization of the order of the real estate market", clear strict prevention of operating loans, consumer loans into the real estate market in violation of the law. Strictly prohibit the issuance of personal business loans and consumer loans for down payment for home purchase or repayment of down payment borrowing funds, strict examination of the authenticity of personal business loans and consumer loans, and strengthen the management of funds after the loan.
A number of market observers analyzed that if the violation of consumer loans, business loans for the property market transactions, the bank has the right to require early return. Early "drawback" on the investor is a deterrent effect. Hangzhou issued a document, many investors began to wait and see, the owners are not willing to reduce prices in a short period of time, the second-hand real estate transactions appeared to be a more pronounced decline.
A state-owned bank personal loan risk control person in charge of the China Securities Journal reporter said, the major banks have a more detailed risk control system, business loans, consumer loans flow is a strict detection system. Violations of the purchase of real estate, stock speculation and other behavior, the system will have the appropriate prompts. Once the strict control, as the bank side can make a rapid response in a short time.
Zhang Dawei, chief analyst of Centaline Real Estate, believes that the core reason for the inflow of business loans into the property market is the interest rate differentials with mortgage loans, and at the same time with the banks in the lending process both as athletes and referees have a great deal to do with. From the bank's point of view, the risk of business loans is relatively higher than mortgage loans, but the interest rate of business loans in the policy requirements and lower than mortgage loans, so the bank's implementation of the level of action out of shape, in effect, encouraging the business loans into the property market.
Zhang Dawei said that the recent crackdown is very strong against the behavior of some short-term use of new house book as well as the registration of new enterprises to obtain business loans. The strength of this policy can certainly inhibit the market overheating, so that business loans return to its essence, help business operations, and can to a certain extent inhibit the irrational and unhealthy development of the entire property market.
(Original title: many places to strictly prevent consumer loans, business loans illegal flow into the real estate market! Experts: banks have the right to "draw loans" and crack down on speculators)