Sino-Singapore Jingwei Client, March 10th (Wei Wei) The bank took action against embezzlement of loans.
Recently, a number of notices of early withdrawal of personal loans have been circulated on the Internet, showing that the borrower was required to repay the loan early due to violation of the “loan purpose” regulations.
At the beginning of this year, the regulatory authorities in Shanghai, Beijing and other places required all commercial banks in their jurisdictions to conduct a comprehensive self-examination of consumer and business loans issued since the second half of 2020.
Now, the power of self-examination is emerging.
Online Bank Recovers Personal Loans Early
Recently, a "Personal Loan Early Recovery Notification Letter" was transmitted online, showing that due to the borrower's "failure to perform the loan purpose in Article 4 of the loan contract", a bank's Shanghai branch announced that all loans under the contract were due early. The borrower is also required to repay the total loan principal balance of nearly 3 million yuan before March 31.
The notification letter also stated that if the borrower fails to repay all the principal and interest of the loan on the above-mentioned date, the loan will be overdue and a penalty interest will be incurred, and the bank has the right to initiate legal proceedings against it and take property preservation measures.
Coincidentally.
Weibo V and Niu Chunbao, Chairman of Shanghai Wanji Asset Management Co., Ltd. also posted a "Personal Loan Early Recovery Notification Letter". The loan contract was signed on January 5 with a loan principal balance of 5 million yuan, but it was less than In 2 months, it was withdrawn by the bank ahead of schedule.
The reason is also "failure to perform the loan purpose of Article 4 of the loan contract".
According to media reports such as China Business News, Shenzhen and other places are beginning to become more and more stringent in terms of operating loan approval conditions and use supervision.
If operating loans are used for real estate speculation and funds are misappropriated, the bank will recover the loan if it finds out.
Dong Ximiao, the chief researcher of China Merchants Union Finance, told the Sino-Singapore Jingwei client that according to the loan contract, if the customer does not use the funds according to the contract, the bank can withdraw the loan in advance.
In addition, from a supervisory point of view, in recent times, supervisory authorities have conducted stricter inspections on bank credit funds flowing into the real estate market and the stock market in violation of regulations.
Under this circumstance, banks are under greater compliance pressure, so they will strengthen the monitoring of the flow of funds. If consumer loans and business loans are found to flow into the property market and the stock market, they may be withdrawn in advance.
Regulatory requirements for comprehensive self-examination of the use of credit funds
At the beginning of this year, after the media reported on the issue of operating loans flowing into the property market, many local governments intensively voiced their concerns, requiring banks to conduct self-examinations on the compliance of consumer loans and operating loans.
On January 29, the Shanghai Banking and Insurance Regulatory Bureau issued a notice on further strengthening the management of personal housing credit, requiring that the management of the use of credit funds be strengthened to prevent the illegal misappropriation of credit funds such as consumer loans and operating loans in the real estate sector.
Prevent borrowers or entrusted payment objects from evading use management through various methods such as unconventional large-amount cash withdrawals and intermediary transition funds.
In addition, the Shanghai Banking and Insurance Regulatory Bureau also requires banks to conduct comprehensive risk investigations.
Conduct a comprehensive self-inspection of consumer loans, business loans, and personal housing loans issued since June 2020, and submit a self-inspection and rectification report to the Shanghai Banking and Insurance Regulatory Bureau before February 28, 2021.
If the borrower violates the contract, it shall be punished in accordance with the contract.
On February 1, the Beijing Banking and Insurance Regulatory Bureau issued an announcement to strictly inspect the illegal flow of personal credit funds into the real estate market. A comprehensive self-examination of the compliance of newly issued personal consumption loans and personal business loans has been carried out, focusing on checking whether there are consumer loans and operating loan funds due to imprudent credit approval, inadequate management of entrusted payments, and inadequate management of post-loans. It is used to pay for house purchases in violation of regulations, and the bank is required to immediately rectify the problems found and strengthen internal accountability.
Source of sand table data: Photo by Xue Yufei, China-Singapore Jingwei
According to the real estate WeChat public account "Jingfangzi", before the Spring Festival, the competent authority conducted a general investigation of transaction cases in hot spots in the Beijing property market since January 25. , Haidian Wanliu, Zhongguancun and other hot school districts conducted key checks on transaction cases.
Since operating loan funds entered the property market in violation of regulations, it is usually used to purchase a house in full, and then use the house as collateral to obtain loans.
Therefore, the verification is mainly aimed at the behavior of the purchaser and immediate family members who have recently applied for the use of the business loan in the purchase of the full payment.
A person from a joint-stock bank told the Sino-Singapore Jingwei Client that all banks in the Beijing area are conducting self-inspections and that if any violations are found, they must be reported.
"Supervision attaches great importance. Banks conduct self-inspection first, involving the Personal Loan Department and the Inclusive Department. If a violation of the loan usage is found, the borrower will be required to return the loan in advance.
A related person from the Beijing branch of another joint-stock bank said that they recently self-checked whether operating loans have flowed into the property market, but he admitted that it is not easy for banks to find out. Operating loans are generally entrusted to be paid to third-party accounts. If the third-party accounts handle multiple transactions Or transfer to the property market in cash, it is difficult for banks to track down the true flow of funds.
However, supervision will also conduct random checks on banks, and there are also ways to find out.
The threshold for operating loans in Beijing has increased
Recently, Ms. Wang, who is buying an improved house in Beijing, told the Sino-Singapore Jingwei client that she originally intended to apply for a business loan, but her idea was poured cold water by the intermediary.
"The intermediary said that he is buying an improved house for another client. Because the client is a second house and the down payment is short of funds, he applied for an operating loan from the bank, but the bank has recently rejected it. Now the client has a large funding gap and is thinking about it. Ways to raise money."
"Recently, the qualifications for operating loans have been checked very strictly." The relevant person at the Beijing branch of the aforementioned joint-stock bank stated that applications for operating loans will be rejected if the new house is used as collateral.
After the Beijing Banking and Insurance Regulatory Bureau issued a regulatory letter, the operating loan interest rates and thresholds of commercial banks in Beijing have been raised.
A loan intermediary company introduced on its WeChat public account that the current interest rates of state-owned banks in Beijing are between 3.5% and 4.35%, and some joint-stock banks have increased, but the increase is limited.
In terms of loan qualifications, the above-mentioned intermediary company stated that it requires 6 months for newly registered and newly acquired companies, and it takes more than 3-6 months for the full payment of newly-purchased second-hand houses and first-hand houses to obtain the housing cost. The income stream of the borrower is also required to cover 2-3 times the loan amount.
Zhang Dawei, chief analyst of Centaline Real Estate, pointed out to the Sino-Singapore Jingwei client that this round of the property market has started to rise after the epidemic. The main market performance is the improvement of housing in first- and second-tier cities plus the increase in school district housing. The main reason is that business loans entered the market. There is a comprehensive business loan survey in Shenzhen in April 2020.
"Suppressing the inflow of operating loans into the property market also suppresses the heat of the property market. But so far, it is difficult to say how much impact it has on the property market." Zhang Dawei said.
Dong Ximiao pointed out that this round of self-examination is also a measure to strengthen financial services to the real economy. It is necessary to prevent illegal flow of credit funds into the property market and the stock market, and allow more credit funds to flow to small and micro enterprises, rural revitalization, green development, technological innovation and other fields. These areas play an important role in avoiding the "siphon effect" of the real estate market and crowding out excessive credit resources.
(Zhongxin Jingwei APP)
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