China Banking and Insurance Regulatory Commission talks about the chaos in the banking industry: "Carrot Seal" and other serious market disruption problems have almost disappeared
China News Agency, Beijing, September 14 (Reporter Wang Enbo) The "regulatory storm" set off by the Chinese banking industry in recent years is showing results.
Zhu Tong, deputy director of the Banking Inspection Bureau of the China Banking and Insurance Regulatory Commission, stated in Beijing on the 14th that the current major industry-related violations of laws and regulations have been basically eliminated, especially the "radish seal", financial management "flying bills", private guarantees issued by the industry, and violations that seriously disrupt the market. The problem is almost extinct.
Zhu Tong introduced at the briefing on the same day that the China Banking and Insurance Regulatory Commission carried out regulatory inspections and increased the cost of violations. From 2017 to 2019, a total of 8,818 bancassurance institutions were punished, 10,713 persons responsible were punished, and a total of 7.24 billion yuan was fined and confiscated. Same), more than the sum of the past ten years, the chain of penalties and accountability further extends to the counterparty institutions that violate the rules.
Zhu Tong said that after continuous in-depth chaos rectification, the banking industry ecology has been actively purified, key areas have made breakthroughs in risk resolution, the banking industry’s prudential and compliance operation atmosphere has been further stabilized, and the chaos rectification work has reached the expected goal, which has not only successfully avoided risk hazards. The evolution to the financial crisis has also created valuable policy space and room for maneuver to deal with various complex situations.
Zhu Tong said that the current risks in key areas of the banking industry are shifting from divergence to convergence.
Take high-risk shadow banking as an example. Since 2017, through the reduction of fund idling and channel business, the cumulative reduction of cross-financial high-risk assets has been about 16 trillion yuan in three years.
In the first half of this year, inter-bank wealth management dropped by 13.6% from the beginning of the year, which fundamentally reversed the situation in which banking institutions rely on inter-bank assets to drive their own assets and profits to grow rapidly, and the problem of de-realization of funds has been resolutely corrected.
The risk of non-performing loans has also continued to be resolved.
In the past three years, the banking industry has handled a total of 5.8 trillion yuan of non-performing loans, which is more than the total amount disposed of in the previous eight years.
In the first half of this year, the disposal of non-performing loans was 1.06 trillion yuan, a year-on-year increase of 168.9 billion yuan.
The ratio of loans overdue for more than 90 days to non-performing loans of commercial banks has dropped from 128% during the peak period to 82% at the end of last year.
In terms of severely punishing financial illegal and criminal acts, Zhu Tong said that the government resolutely rectifies illegal financial groups and illegal financial activities, and orderly promotes asset cleanup, recovery of stolen goods, and risk isolation.
The takeover of Anbang Group and Baoshang Bank has achieved remarkable results. The "Tomorrow Department" related institutions have been taking over work steadily. The timely reorganization, reorganization and bankruptcy liquidation of several holding companies suspected of handling financial business in violation of regulations have effectively managed the situation.
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