Financial Times: It is expected to complete the special debt distribution of SMB 320 billion at the end of August

On July 25, the China Banking Regulatory Commission held a seminar and disciplinary inspection and supervision (TV telephone) symposium in mid -2022 in the full system, summarized and analyzed the work and the current economic situation in the first half of the year, and arranged key tasks in the second half of the year.

Since the beginning of this year, while guiding bank insurance institutions to continuously improve the quality and efficiency of the real economy of financial services, it has strongly or orderly prevent and resolve financial risks, accelerate the risk disposal of small and medium -sized financial institutions, and strengthen risk prevention and control in key areas. In addition, it has continuously deepened the reform and opening up of the banking insurance industry, continued to promote bank insurance institutions to improve corporate governance, approve the opening of Zhejiang Rural Commercial and Commerce Bank, and steadily promoting the reform and development of commercial pension and financial finance.

"It is necessary to steadily promote the reform of the banking insurance industry." The meeting put forward specific requirements for the reform of the banking insurance industry in the second half of the year, and supported local governments to issue special bonds to supplement small and medium bank capital; Poor loan disposal support policies and measures will be implemented; support local "insurance transit" work to promote the steady and healthy development of the real estate market; cooperate with the prevention and resolution of the hidden debt risk of local governments; and resolutely crack down on illegal financial activities.

Zhou Maohua, a macro researcher at the Everbright Bank Financial Market Department, said in an interview with the Financial Times reporter that in the first half of the year, the risk issues exposed by individual small and medium -sized banks attracted attention, but in general, my country's small and medium -sized banks were running smoothly and controllable risks. Preventing and resolving financial risks is always on the road. In response to this area, the meeting proposed a number of reform insurance measures, which is intended to further consolidate the steady development foundation of small and medium banks and enhance the ability to serve the key areas and weak links to serve the real economy.

Support special debt to supplement small and medium bank capital

Capital is an important line of defense for banks to resist risks. Affected by many factors such as epidemic situation, the current economic operation faces some outstanding contradictions and problems, especially the recovery of market entities is not stable, and the demand for financial support is urgent. Based on this, further strengthening the capital supplement of small and medium -sized banks is of great significance for improving the ability of small and medium -sized banks to serve the real economy and resolving some institutions' stock risks.

Since the beginning of this year, the China Banking Regulatory Commission has actively accelerated the issuance of special bonds for local governments with the Ministry of Finance and the People's Bank of China to supplement SMB capital. In the first half of the year, with the approval of the State Council, it had distributed 103 billion yuan in Liaoning, Gansu, Henan, and Dalian provinces (cities). At the same time, the China Banking Regulatory Commission guides small and medium -sized banks to coordinate internal and external capital supplements, use market -oriented supplementary capital, encourage the introduction of various social capital that meets conditions, and improve capital levels and quality.

"Replencing the capital of small and medium -sized banks by issuing special bonds of local governments is an innovative approach for small and medium -sized bank capital supplements in recent years. It helps to support small and medium banks to broaden capital supplementary channels, enhance capital strength, and enhance stable development capabilities." Zhaolian Financial Chief Researcher Dong Ximiao said in an interview with the Financial Times reporter.

The "Financial Times" reporter learned that at present, local governments have issued special bonds to supplement small and medium bank capital, mainly to adopt two ways: indirect shares and subscribing to the stock transfer agreement deposit. According to Zeng Gang, the director of the Shanghai Financial and Development Laboratory, the indirect shareholding model refers to the fund raising funds raised by the state -owned financial holding platform through capital increase and expansion to small and medium -sized banks to supplement the core first -level capital. Subscribe to the stock transfer agreement deposit is a capital tool that has the characteristics of agreement deposits issued by small and medium -sized banks, including convertible bonds, deposit deposits, secondary capital bonds, etc. to supplement other first -level capital or second -level capital. The main compensation is mainly paid The source of debt is the loan interest, handling fees, commissions, etc. of the bank.

"Recently, the special debt issuance plan of some places will also be approved. It is expected that by the end of August, the allocation of all 320 billion yuan will be completed." The person in charge of the relevant departments of the Banking Insurance Regulatory Commission recently revealed in an interview with the media that the next step, the China Banking Regulatory Commission In accordance with the principles of "there are plans in the province, can be quickly issued, and the distribution in batches" will urge local governments to report the plan as soon as possible, accelerate the progress of approval, complete the special debt issuance work early, and play its role in preventing risks and stability.

However, the capital of small and medium -sized banks is not a "universal formula" through local special bonds. Dong Ximiao said that it should also accelerate the establishment of a long -acting mechanism for small and medium -sized bank capital supplements. For example, appropriately optimize the qualifications of shareholders, simplify the approval process, and support small and medium -sized banks to introduce qualified shareholders to increase capital and expand shares; relax the access conditions, support small and medium banks to issue priority shares, sustainable bonds, convertible bonds, secondary capital bonds, etc.; Bank issuance of financial bonds, etc. to obtain low -cost funds to provide policy convenience.

Increase the disposal of non -performing loans for small and medium -sized banks

In recent years, the banking industry has strengthened non -performing asset disposal under the guidance of financial management departments. From 2017 to 2021, the banking industry had a total of 11.9 trillion yuan in non -performing assets, exceeding the total amount of the previous 12 years. In particular, small and medium -sized banks have great disposal. In the past 5 years, a total of 5.3 trillion yuan in non -performing loans. In the first half of this year, the banking industry disposed of non -performing assets of 1.41 trillion yuan, which was 219.7 billion yuan year -on -year. The CBRC continues to arrange the actual risk of small and medium -sized banks and vigorously promote the disposal of non -performing assets. In the first half of the year, small and medium -sized banks dispose of 594.5 billion yuan in non -performing loans, which were disposed of 118.4 billion yuan over the same period last year.

However, the "Audit Report on the Examination of the State Council on the implementation of the central budget and other fiscal revenue and expenditure of the Central Budget and other fiscal revenue and expenditure" recently released by the Audit Department's website also proposed the problem of false assets in small and medium -sized banks. Among them, 23 small and medium banks disclosed that the non -performing assets were 170.962 billion yuan. Essence This actually reflects the increase in downward pressure on the economic downward, and the discharge of non -performing loans in small and medium -sized banks is facing a large bombardment pressure, and the difficulty of disposal has increased. In recent years, the regulatory authorities have continued to optimize bad disposal arrangements to help commercial banks speed up and resolve financial risks. In 2021, the China Banking Regulatory Commission expanded the scope of pilot scope of non -performing loan transfer and batch personal non -performing loan transfer. According to reports, in June of this year, the Banking Insurance Regulatory Commission issued the "Guidance Opinions on Guiding Financial Asset Management Company to focus on the main business of actively participating in the resolution of reform risks of small and medium -sized financial institutions", requiring financial asset management companies to increase the disposal of non -performing assets for small and medium -sized financial institutions. Moderate the scope of the acquisition of financial assets to improve the efficiency of financial risk resolution.

Li Yilin, a researcher at the Bank of China Research Institute, said that due to the influence of the epidemic, the complexity, severeness, and uncertainty of the development of the real economy have risen, and the potential adverse risks of the banking industry are still large, especially the pressure on the rebound of non -performing assets of small and medium banks cannot be ignored. Therefore, it is necessary to further use various treatment channels to improve the effectiveness of non -performing assets.

The aforementioned meeting requires the implementation of support policies and measures for small and medium -sized banks to deal with non -performing loans. Dong Ximiao said that small and medium -sized banks have a heavy historical burden, but there are fewer non -performing asset disposal methods and single means. More differentiated measures should be taken to comprehensively use cash settlement, independent nuclear sales, non -performing asset transfer, and securitization of non -performing assets to increase the quality and efficiency of non -performing assets for small and medium -sized banks. At the same time, relax the policy restrictions, incorporate small and medium banks into the pilot of non -performing asset transfer as soon as possible, encourage more market entities to actively participate in non -performing asset disposal, innovate and dispose of methods and means, and improve the supply capacity of non -performing asset disposal markets.

Continue to promote the reform of small and medium -sized banks

In recent years, the CBRC has continued to promote the reform of small and medium -sized banks. In terms of corporate governance, the party's leadership and corporate governance are organically integrated, the supervision of shareholders' equity is strengthened, the introduction of qualified shareholders, clearing issues shareholders, and optimizing the equity structure. Focus on cracking off illegal shareholders and executives of small and medium -sized banks. In terms of deepening reforms, in -depth promotion of the reform of rural credit cooperatives, and accelerating the reform process in accordance with the principles of "one province, one policy" in accordance with local conditions and "one province and one policy". In April of this year, Zhejiang Rural Commercial and Commercial United Bank officially opened, marking the reform of the agricultural credit cooperatives focusing on the reform of the provincial party's party agency. In terms of risk disposal, vigorously promote the disposal of non -performing assets, support mergers and reorganizations, optimize market layout, and enhance the development momentum of small and medium -sized banks.

It is worth noting that this year's reform and reorganization cases have continued to land, becoming an important way for small and medium -sized banks to resolve the risk resolution. For example, on May 25, 2022, the Central Plains Bank absorbed the approval of the combination of Luoyang Bank, Pingdingshan Bank, and Jiaozuo China Travel Bank; on July 2, Shenyang Rural Commercial Bank successfully completed the undertaking of Liaoyang Rural Commercial Bank and Prince He village bank outlets, personnel, and deposits. Work.

"For urban commercial banks, agricultural credit institutions, and village banks with small scale and difficulty in operating, the provincial -level urban commercial banks and municipal agricultural commercial banks are established through mergers and reorganizations to promote the reform of institutional mechanisms and enhance risk resistance." In the future, more explorations can be performed. For example, the small -scale county -level agricultural commercial banks and agricultural credit cooperatives are merged and reorganized for cross -county and cities; village banks that operate poorly operate as branches are incorporated into the main business; Participate in the supervisory requirements of the same control. However, the local governments that dominate the merger and reorganize should not engage in simple "Lazhuo", but to introduce a market -oriented mechanism to properly arrange the equity structure, institutional reorganization, and executive equipment.

In addition, the meeting also proposed that the shortcomings of the supervision should be accelerated. Continue to strengthen the supervision of corporate governance, strengthen the audit review of shareholders 'qualifications and the supervision constraints of shareholders' behavior. Urges local financial institutions to cultivate localities and strengthen community and county financial services. Accelerate the construction of big data platforms and improve the level of digitalization of regulatory digitalization. Focus on optimizing the supervisory collaborative mechanism.

Zhou Maohua said that in the first half of the year, some risk issues exposed by individual institutions had the reasons for macroeconomic and industrial fluctuations, and also reflected the problems of imperfect company governance and high level of operation. In this regard, the financial management department needs to increase supervision, supplement the shortcomings of supervision, and guide small and medium banks to strengthen corporate governance, especially to strengthen the supervision and restraint of shareholders' equity.

Responsible editor: Tao Jiyan | Review: Li Zhen | Director: Wan Junwei

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