On the afternoon of the 15th, the State Council's joint prevention and control mechanism held a press conference on the role of the reloan and rediscount policy to support epidemic prevention and control and resume work and production.
Photo by Wei Xin, reporter from China News Agency
How can finance support epidemic prevention and control and resume production? How is the special re-loan issued? Will the central bank cut rates? Guo Shijun sorted out the eight major issues, one article understood:
01 How is the 300 billion yuan special re-loan for the epidemic prevention issued?
Answer: The average household gets 40 million, and the distribution progress is more than 10 billion per day.
Sun Guofeng, Director of the Monetary Policy Department of the Central Bank:
On January 31 this year, the central bank set up a special refinancing loan of RMB 300 billion for the epidemic. As of March 13, the central bank has issued a special reloan of 184 billion yuan. Nine national banks and local banks in 10 provinces and municipalities have issued a total of 182.1 billion yuan in preferential loans to 4,708 national and local key enterprises. Enterprises received preferential loans of 40 million yuan.
The weighted average interest rate of preferential loans is 2.56%. After the financial discount of 50%, the actual financing cost of the enterprise is about 1.28%, which is lower than the State Council ’s requirement that the interest rate is not higher than 1.60%. At present, the progress of banks in issuing concessional loans has remained above 10 billion yuan per day, and the disbursement rate is relatively fast.
In terms of results, according to incomplete statistics, the key enterprises on the list from January 25 to March 10 produced 1.6 billion masks, 87.79 million pieces of protective clothing, 4.21 million goggles, 10.29 million copies of virus detection reagents, negative There were 4,143 ambulances, 2.49 million tons of vegetables, 3.74 million tons of grain, and 1.56 million tons of meat. The special reloan also provides financial support for some key projects, such as supporting new beds in Beijing Xiaotangshan Hospital.
02 How can small, medium, and micro-sized enterprises postpone debt and interest payments?
Answer: For the enterprises that really need it, ensure that the policy is implemented.
Ye Yanfei, First Class Inspector, Policy Research Bureau, Banking Regulatory Commission:
The Banking Regulatory Commission and other financial management departments have issued a number of policies to support epidemic prevention and control, resumption of work and production, and spring ploughing, including small and micro enterprises' temporary delay in repayment of principal and interest.
Establish a ledger for enterprises that really need to delay repayment and interest payment arrangements, follow up and understand the needs of the company's resumption of work and production funds, give corresponding support, clarify the amount and time limit, identify the responsible person, and ensure that the policy is implemented.
At present, the financial support provided by banking financial institutions to fight the epidemic exceeds 1.4 trillion. From January to February, credit increased compared with the same period last year, an increase of about 130 billion yuan year-on-year.
03 How does ABC support the resumption of production of small and micro enterprises?
Answer: Reduction, exemption, mitigation, surrender, guarantee.
Zhan Dongsheng, Vice President of the Agricultural Bank of China:
Small and micro enterprises are relatively affected by the new crown epidemic, and tight cash flow conditions are more common. The Agricultural Bank of China has carried out work in five aspects: reduction, exemption, mitigation, reduction and insurance. Reduce the examination and approval process, waive related fees, deferred repayment of principal and interest, reduce loan interest rates, and secure financing needs.
For the affected by the epidemic situation, the principal and interest cannot be repaid for the time being, the overdue, the penalty interest is not collected, the risk classification is not adjusted, the customer classification level is not lowered, and the credit is not counted as bad. At present, a total of 130 million yuan of loans for 252 small and micro enterprises have been extended, 489 million of micro and small enterprises have adjusted their repayment plans for loans of 870 million yuan, and 6.29 billion yuan of loans for 933 small and micro enterprises have been renewed.
04 To which enterprises was the special reloan issued?
Answer: It is the first to complete the launch of the first 15 billion yuan.
Lin Li, Executive Director and Vice President of China Agricultural Development Bank:
On March 12, the Agricultural Development Bank of China took the lead in completing the first 15 billion yuan of special reloan from the People's Bank of China. So far, 16.4 billion yuan of special loans have been issued to 357 epidemic prevention enterprises. More than one-sixth of the special reloan funds received by the Agricultural Development Bank was used in Hubei.
Preferential interest rates for special loans issued by the Agricultural Development Bank are implemented. After financial discounts, corporate financing costs are around 1.18%, and 53% of them use credit loans or guarantee procedures before borrowing.
For areas with severe epidemics, allowances for loans are allowed. Some materials can be approved first and then replenished. At the same time, using WeChat video online loans and other methods to simplify procedures and quickly loan.
05 Not on the key list, how do ordinary small and micro enterprises apply for loans?
Answer: The rediscount amount is 500 billion yuan.
Sun Guofeng, Director of the Monetary Policy Department of the Central Bank:
In order to support the resumption of work and production, the central bank added 500 billion yuan in reloans and rediscounts on February 26, and lowered the interest rate on small refinance loans for agricultural support by 0.25 percentage point. The 500 billion yuan re-loaning and re-discounting policy and the 300 billion yuan special re-loaning policy introduced earlier have different policy objectives and implementation methods.
The 5,000 yuan re-loan rediscount is mainly used to support the resumption of production and resumption of production. It is a low-cost, inclusive financial support for enterprises. It has a wide coverage, including small and medium-sized enterprises that resume production and resume production. Including about 2,500 local banks. As long as the loan interest rate and use of financial institutions meet the requirements, they can apply for refinancing funds at the central bank in equal amounts.
As of March 13, local bankers supported by the 500 billion yuan re-discount policy have cumulatively issued 107.5 billion yuan of preferential interest rate loans, including 20.5 billion yuan of agricultural loans and 38.5 billion yuan of inclusive small and micro loans.
06 What adjustments will be made to interest rates next?
Answer: Four steps.
Sun Guofeng, Director of the Monetary Policy Department of the Central Bank:
In the next step, the central bank will continue to take a variety of measures to promote a marked decline in loan interest rates, and support the resumption of production and economic development of enterprises.
The first is to use a variety of monetary policy tools to maintain reasonable and adequate liquidity and provide a good liquidity environment for reducing corporate financing costs.
The second is to continue to advance LPR reform, orderly promote the conversion of existing floating interest rate loan pricing benchmarks, guide and improve the internal transfer pricing (FTP) system of commercial banks, embed LPR into the bank's internal interest rate mechanism, improve the LPR transmission mechanism, and continue to release Reforms have the potential to reduce real interest rates on loans.
The third is to guide the banking system to properly profit from the real economy, reduce corporate financing costs, stimulate the vitality of micro-subjects, and smooth the virtuous cycle of economics and finance.
The fourth is to continue to play the role of the benchmark deposit interest rate as the "ballast stone" of the entire interest rate system. At the same time, it will reduce the innovative products of non-standard deposits of banks, incorporate the structured deposit guarantee rate into macro-prudential assessment, maintain the order of deposit market competition, and stabilize bank liabilities. End cost.
07 The epidemic is spreading globally. What are the measures to stabilize foreign trade?
Answer: Four measures stabilize foreign trade.
Ye Yanfei, First Class Inspector, Policy Research Bureau, Banking Regulatory Commission:
Now foreign trade does face some difficulties, because the global epidemic has not been contained, and China has contained it. There are four main measures to stabilize foreign trade:
The first is to encourage banks to increase trade financing, especially through insurance policies to support the stabilization of foreign trade.
The second is to urge and guide financial institutions, especially bank institutions, to appropriately expand the authorization of foreign trade operations of branches, because they understand the situation of foreign trade enterprises better, and can better support foreign trade enterprises in financing and meet other financial service needs.
Thirdly, for foreign trade small and micro enterprises that are indeed experiencing difficulties, extension arrangements can be made in terms of debt and interest payments to ensure that the capital chain is continuous and that they can continue to carry out foreign trade business.
The fourth is to urge grassroots institutions and head office institutions to strengthen interaction, Chinese banks and foreign banks strengthen cooperation, host banks and correspondent banks strengthen cooperation, and solve the problem of payment and settlement channels affected by the epidemic.
08 Is the “high threshold” for applying for special reloan?
A: Credit can be paid.
Zhan Dongsheng, Vice President of the Agricultural Bank of China:
In terms of mortgage requirements, the Agricultural Bank adheres to the principle of differentiation. For those who can provide collateral and can handle the mortgage, they can take a mortgage loan. For those who can provide the collateral but do not have the conditions for the mortgage during the epidemic, we use the credit Ways to make up the mortgage after lending. For those who are unable to provide collateral, we can flexibly adopt guarantees or credits to lend according to their credit status, production and operation status, and risk tolerance.
In terms of loan amount, we have not set a minimum amount requirement. At present, the minimum loan amount for special loans of Agricultural Bank is 23,700, and it is not uncommon for special loans below 100,000.
Author: Wei Xi