CBIRC Solicits Public Opinions on "Three Rules and One Provisions"
In order to further propel banking institutions to improve credit management capabilities and financial service efficiency, and to support the financial sector in serving the real economy, the China Banking and Insurance Regulatory Commission (CBIRC) has revised credit management rules including the Interim Rules on Fixed Asset Loans, the Interim Rules on Working Capital Loans, the Interim Rules on Personal Loans and the Guidelines on Project Financing Business, and formed the Rules on Fixed Asset Loans (for Consultation), the Rules on Working Capital Loans (for Consultation), the Rules on Personal Loans (for Consultation) and the Provisions on Project Financing Business (for Consultation), which are now open to the public for comments.
The mainly revised contents include the followings.
First, moderately expanding the scope of usage and borrowers of working loans and fixed asset loans to meet the actual demand of the credit market.
Second, further clarifying the criteria and appropriately adjusting the time limit for entrusted payment. Relevant provisions on emergency use of funds are added to enhance the flexibility of entrusted payment.
Third, adjusting the loan business handling mode, and specifying the handling forms such as video interview and off-site investigation so as to adapt to new financing scenarios. Fourth, optimizing the calculation requirements of working capital loans, and adding relevant content of handling loans by credit to better tally with the financing reality.
Fifth, clarifying the loan term requirements, guiding commercial banks to effectively guard against the risk of maturity mismatch, and further optimizing the loan structure. Sixth, integrating other relevant credit management rules to make them more systematic.
In the next step, according to the feedback from all parties, the CBIRC will further revise and improve the above rules and provisions, which will be released and implemented in due course.
Appendix:（Chinese）
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