Original title: just start! Supervision and regulation on Internet loans will be further strengthened in the future.
Author: Song Yikang
On November 8, First Financial Journalist learnt from people close to regulators that the regulatory authorities are currently formulating management measures for the Internet lending business carried out by commercial banks.
Recently, a "Commercial Bank Internet Loan Management Measures (Draft for Commerce)" has aroused great concern among banks, consumer finance companies, Internet small loans and P2P institutions. However, a number of banks and consumer finance companies told the First Financial Journalist that they had not yet received the draft formally under supervision.
A licensed consumer finance company told First Financial Journalist that in 2017, the regulation issued the Interim Measures for Internet Loan Management of Private Banks (Draft for Opinions), but there has been no follow-up.
Those who are close to regulators say that as long as they are net lending businesses, future rules need to be unified. In the past, the basic work and supervision system of Internet loans were not perfect. It was necessary to make up for the shortcomings of the system and formulate uniform rules and regulations to facilitate fair competition. In addition, he said that this is only the beginning, and in the future, with the deepening of business, it will further strengthen the norms of Internet lending business.
According to the previous version of "Commercial Bank Internet Loan Management Measures (Draft for Advice)" circulated in the market, in a single joint loan, the proportion of the investment of commercial bank as the customer recommender shall not be less than 30%, and the proportion of the investment of the bank receiving the recommendation shall not be more than 70%. Commercial banks, as customers'recommenders, shall not exceed 50% of the total balance of Internet loans; commercial banks that accept customers' recommendation shall not exceed 30% of the total balance of Internet loans.
In addition, when commercial banks jointly issue Internet loans with other institutions with loan qualifications, they should establish an internal management system for joint loans and clarify the authorization management mechanism of joint loans in the system. The commercial banks of the Joint Lending parties shall independently examine and approve the loans. Commercial banks shall not provide loan funds in any form for cooperative institutions without the qualification of lending business, nor shall they co-invest and issue loans with cooperative institutions without the qualification of lending business.
However, the above-mentioned close regulators did not confirm the authenticity of the specific regulatory requirements to First Financial Journalist, but he pointed out that the core issue is not only to give Indicators and requirements, but to strengthen the risk management capacity of loan institutions. He also said that the current joint loan for "know your customer" (KYC), it is difficult to meet the basic regulatory requirements.
At present, in the market, many licensed institutions, such as banks and consumer finance companies, involve joint loans. For consumer finance companies, at the end of 2017, a storm of regulation and rectification came to the cash lending industry. At that time, the non-bank Department of the CBRC issued a letter on Forwarding the Notice on Regulating the Rectification of Cash Loan Business (non-bank letter  69), requiring the local CBRC to regulate the consumer finance companies under its jurisdiction. Risk warning.
Among them, the regulation clearly requires that consumer finance companies should not provide funds and loans to institutions without the qualification of lending business by any means such as P2P network lending matching; they should not directly invest or make disguised investments such as financial management to sell assets on the basis of "cash loans", "campus loans" and "down payment loans". Securitisation products and other products.
As for banks, the First Financial Journalist has learned that cooperation between banks and financial technology companies is common. A city businessman told reporters that some small and medium-sized banks cooperate with third parties such as wealth management companies, Internet financial companies and staged consumer companies. The loan funds come from these third-party companies or the first-party company. The pool of funds set up by three party companies and banks is mutual diversion.
Specifically, if a customer applies for credit from a bank, the bank only acts as a channel. The funds come from a third-party company. The bank charges 20% to 40% interest as a channel fee.
At the end of last year, the Circular on Regulating and Rectifying the "Cash Loan" Business (hereinafter referred to as "No. 141") stipulated that banking financial institutions should not outsource core business such as credit review and risk control when cooperating with third-party institutions to carry out loan business.
According to those close to the regulators, the core of all the rules is to focus on the regulatory objectives of the Banking and Insurance Regulatory Commission, improve the risk management capabilities of institutions, and do a good job in consumer protection, so as to promote the stable development of the industry and fight against financial crimes. On the surface, it is the target supervision, and behind it there are provisions. This is only the beginning. With the further development of the business, the Internet loan business standard will be further strengthened.
Because Internet loan is convenient and fast, and it is also the trend of technology development, the wave of Internet loan is "unstoppable". These close regulators point out that, with the increasing demand of customers for Internet financial services, how to follow the trend and complement supervision while technological development, so that institutions can operate on the network platform as traditional businesses, maintain business stability and achieve various regulatory guidance objectives is to formulate the Internet lending business of commercial banks. The original intention of the rules.
In contrast, "Internet institutions and non-licensed online lending institutions have a relatively weak sense of compliance, and a compliance culture needs to be formed," said the above-mentioned close regulators. The CBRC put forward regulatory requirements for licensed institutions, and through licensed institutions to drive partners, the market can be more standardized. "This is an effective grasp."
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