Monday, July 19, 2010

CBRC emergency brake, "Bank and Credit Cooperation"

published at Jul 12, 2010 @ China Real Estate News

after repeated warnings, regulators finally silver co-products to produce the letter a "red card".

multiple sources confirmed that the evening of July 2, the area around the CBRC has to trust orally informed the company, emergency halt all cooperation with the business and silver letters.'s learned that the notice requirement to suspend the deadline for the July 5.

trust industry analysis, the first half of this year, Silver letter scale product release the explosive growth is leading to silver products have been stopped a letter co-financing the biggest reason. related to statistics, only half a year, Silver letter collaborative product issue size on more than 2.5 trillion yuan. Interviewed experts, called for the suspension Bank and Credit co-main aim was to control foreign Daikuan sharp Kuo Zhang Biao bank risk also will encourage the Trust return to their own asset management .

As for the enterprises under the control of the room, the tightening in bank credit, capital market refinancing stranded, switch to the case of trust financing, now face narrowing opportunities trust dilemma.

strict control sheet risk

2009, since the end Bank and Credit cooperative product development very quickly .2009 9 years late, Silver letter co-financing product size less than 600 billion yuan. But by the first half of this year, has reached the size of about 2.8 trillion yuan, the highest single month when the new size of more than 500 billion yuan, a direct impact on the overall credit.

Monetary Policy Committee members Xia Bin, previously estimated that this year's 7.5 trillion yuan of new loans in the scale, if coupled with more than two trillion yuan in the balance-sheet trust, will return to normal of monetary policy is difficult to .

Zhejiang Securities researcher Zhang Yanbing said, according to the first half of this year, "Bank and Credit Cooperation" develop the speed of, Will most likely exceed the originally planned 7.5 trillion lending target. So regulators halted silver letter 合作 业务 decisive one hand Kongzhi bank potential risks, hand, and ensure that national macro-control smoothly.

"As the Bank and Credit cooperative banks by way of trust financial products to provide loans to enterprises curve, this new loans from the scale of capital constraints, banks have no provision for this provision, and thus contribute Bank line of credit limit break regulators to strengthen lending impulse. "insider of a bank told reporters.

There are a number of banking institutions to circumvent the provision has the capital and other prudential regulatory requirements, issuance of credit asset class through the design of financial products, the loans go to the table, which makes silver trust and cooperation by increasing the additional credit.

risk which has caused concern regulators. In fact, as early as the end of 2009, China Banking Regulatory Commission had already issued the "Regulation on the further cooperation in related matters Fan Yinxin notice," officially blocked bank "balance-sheet loans . "The policy tries to commercial bank credit assets and financial management of funds between a" firewall ", Close to walk a fine line of credit with financial product assets channel gate.

beginning of this year, the CBRC further issued a "transfer of assets on the specification of credit and credit asset classes, financial business-related matters," which called the Banking operation of financial prudence in credit asset classes, financial products business, banks are prohibited to avoid Xindaiguimo regulation or Capital Adequacy Ratio requirements Er Zi Shen 信贷 deliberate transfer of assets and wealth management products on credit asset classes, the information disclosure process subject to more stringent requirements.

reporter also learned that just one month before the oral notice issued, Bank of China Banking Regulatory Commission had also held on an urgent letter of the largest cooperative business meeting of 12 trust companies, products required some silver letter size and growth rate among the top issue of trust active compression scale of business, and after the issuance of no more than 5 per month in late size.

According to sources close to the China Banking Regulatory Commission, called for the suspension of silver product intended to focus on trust and cooperation specification sheet assets of the phenomenon, following the letter of cooperation to combat bank credit class financial products. the future, even if the re-release credit class financial products, monitoring will also be included in the table, and extract risk provision.

room to further tighten the corporate finance

enterprises in terms of the Housing, Even though silver is not the main financing channel trust and cooperation, but relatively limited in this respect for the financing channels, or to some extent. This means that the remaining more competitive financing channels, the cost will be higher.

control has been limited financing channels of real estate, capital market refinancing foreclosed, the banks control the credit of the scale and pace, a number of rooms enterprises started "raising money" in hopes of channels in the trust.

trust schemes in the current real estate financing, the collection are dominant in the form of trust, cooperation in the form of silver is believed to share a small part of the share. According to the studio with the interests of trust statistics, Established in the year 2009, a collection of real estate trust schemes have 186 so far this year has reached 149 models. Bank and Credit co-invest in real estate share of the product smaller, about 13 or so per month, funds scale ranging from several hundred million to more than one billion.

a typical case is that in this emergency brake on a letter co-operation on the eve of silver, real estate, through southern China Aviation Industrial Bank Trust and co-products spot was 4.6 billion loan.

"The letter called for the suspension of cooperation is silver products, trust scheme for the collection did not affect." journalists of a certain industryThe future more "lack of money," Trust in the collection room enterprises to compete, financing costs may be higher.

In addition, some enterprises started by the Housing hand held market Equity Mortgage Company Restricted Shares to the Trust to obtain loans. But such loans will be tightened again, is still unknown.

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