China Banking Regulatory Bureau’s New Regulations on Epidemic Loan Extension
Yes, commercial banks will extend the period according to the instructions of China Banking Regulatory Bureau.
Legal basis:
"Notice of the General Office of the China Banking and Insurance Regulatory Commission on Further Improving Financial Services for Epidemic Prevention and Control"
1. Provide financial services and support Enterprises resume work and production
(1) Fully support epidemic prevention and control enterprises to expand production capacity. Focusing closely on the needs of epidemic prevention and control, we will make every effort to provide financing support for key health and medical fields such as therapeutic drugs and vaccine research and development, as well as important material production, transportation and logistics and other related enterprises. Make full use of central policies, set up dedicated mechanisms, fully authorize and proactively connect, reduce financing costs, provide preferential interest rates and high-quality financial services, and support enterprises to restore production capacity and expand production. Insurance institutions are encouraged to provide accident, health, pension, medical and other preferential insurance services to workers on the front lines of epidemic prevention and control based on their own conditions.
(2) Comprehensive services for enterprises affected by the epidemic to resume work and production. All banking institutions must plan in advance, grasp corporate information in a timely manner, optimize credit processes, reasonably extend loan terms, effectively reduce fees and interest rates, and support affected companies to resume production and operations in an orderly and efficient manner. Insurance institutions are encouraged to support enterprises that have been severely affected by the epidemic to tide over temporary difficulties by reducing fees and providing profits, and appropriately delaying premium payment time. Encourage banking and insurance institutions to actively expand their service areas, leverage their own advantages in payment and settlement, financing planning, production and marketing support and other fields, and provide value-added services such as specialty products, professional consulting, financial management, and information technology support. Focusing on major national strategies, we will provide precise support for projects that play an important role in driving macroeconomic and regional development. Increase the supply of loans to the manufacturing industry and strengthen supply chain financial services.
(3) Actively assist small and micro enterprises and individual industrial and commercial households in difficulty. Do a good job in service docking and demand survey of small and micro enterprises and individual industrial and commercial households within the jurisdiction, and actively adjust the repayment and interest payment arrangements and moderately reduce loan interest rates for small and micro customers who have temporarily encountered difficulties due to the epidemic but still have good development prospects. , improve the connection between extension and renewal of loans and other measures to provide relief assistance. Increasing the allocation of internal resources to the inclusive finance field, increasing the "first loan rate" and the proportion of credit loans for small and micro enterprises, and further reducing the comprehensive financing costs of small and micro enterprises. Increase the development of business property insurance, production safety liability insurance, export credit insurance and other businesses to provide more protection for the production and operation of small and micro enterprises.
(4) Increase financial support for spring plowing and planting. In view of the characteristics of epidemic prevention and control in rural areas, we actively meet the basic financial service needs of rural areas through various online and offline methods. We will increase the amount of agriculture-related loans and make every effort to ensure the demand for credit funds for the production of agricultural and sideline products and the supply of agricultural materials in preparation for spring plowing. Encourage local banking institutions to establish a rapid response mechanism for emergency production funds for agricultural products (5.790, -0.06, -1.03) to support the supply and price stabilization of agricultural products during the epidemic. Support insurance institutions to steadily expand agricultural insurance varieties, expand agricultural insurance coverage, and stabilize the production and operation expectations of agricultural planters and farmers.
2. Strengthen the application of technology and innovate financial service methods
(5) Improve the efficiency of online financial services. All banking and insurance institutions must actively promote online businesses, strengthen service management and guarantees through electronic channels such as online banking, mobile banking, and mini programs, optimize and enrich "contactless service" channels, and provide safe and convenient "at-home" financial services. On the premise of effectively preventing and controlling risks, explore the use of technological means such as video connections and remote authentication, and explore the development of off-site verification, underwriting, verification and other methods, so as to effectively ensure that loans should be made as quickly as possible and compensation should be paid as quickly as possible. pay.
(6) Strengthen offline supporting services and publicity and guidance. For customers who are not accustomed to using online business, it is necessary to provide targeted financial services and provide convenient services such as automatic renewal of time deposits upon maturity and staggered pension withdrawals. Improve the service functions of self-service machines, enlarge fonts, simplify pages, strengthen guidance, and reduce unnecessary counter business processing. Banking institutions must reasonably retain offline service methods such as various self-service machines that customers are familiar with, and if they have been withdrawn, they must effectively restore or provide alternative service methods.
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Editor's note:
A game A war in peacetime, a full-scale mobilization campaign. The novel coronavirus pneumonia epidemic has affected people's hearts, and fighting with all efforts has become a common consciousness across the country. The financial industry responded actively and fought with all its strength. Donations continued to increase and morale continued to rise. In addition to donating money and materials, major financial institutions have combined their own advantages to upgrade and refine relevant financial services to contribute to the prevention and control of the epidemic and help sustain the epidemic. The concentrated action, the iron fist of unity, and the determination to overcome the difficulties will eventually lead to victory in the war against the epidemic.
The epidemic is an order, and prevention and control is a responsibility. Recently, the People's Bank of China, the Ministry of Finance, the China Banking and Insurance Regulatory Commission, and the State Administration of Foreign Exchange jointly issued the "Notice on Further Strengthening Financial Support to Prevent and Control the New Coronavirus Infection Pneumonia Epidemic", stating that they will effectively implement the spirit of the central government's notice on winning the battle against the epidemic prevention and control and work deployment, and strengthen financial support for epidemic prevention and control work.
Since the outbreak of the epidemic, various financial institutions have responded quickly to combat the epidemic. As the vanguard of the financial industry, the banking industry is taking active actions to open financial green channels, producing loans exceeding 100 billion yuan, assisting the development of small and micro enterprises, and continuing to provide more powerful financial services to help fight the epidemic. The insurance industry has also given full play to its professional advantages, providing over one trillion yuan in insurance coverage for "rebels", actively expanding insurance liabilities, and completing a number of COVID-19 claim settlement cases; the trust industry has explored the establishment of special charity funds, using its own resources and shareholder advantages to take Participate in the fight against the epidemic in various ways.
Banks open financial green channels
As the vanguard of the financial industry, the banking industry has carried out various actions to fight the epidemic in an orderly manner.
Not only Chinese banks have taken active actions, but also foreign banks in China and Taiwan-funded banks in mainland China have also actively responded to the initiative. In addition to donating money and materials, more than 10 foreign banks and Taiwan-funded banks have also announced plans to provide assistance for epidemic prevention and control. Multiple initiatives for quality financial services.
For example, HSBC leverages its global network advantages to allocate and purchase anti-epidemic materials from home and abroad to improve the quality of material procurement; Standard Chartered Bank fully leverages its network advantages and business expertise to closely coordinate multiple projects in Standard Chartered Singapore and South Korea. A team is helping Chinese companies urgently purchase supplies needed to fight the epidemic overseas.
Bank of East Asia, Hang Seng Bank and Fubon Bank China have adopted a number of preferential business policies for epidemic prevention and control, such as exempting epidemic-related donations and medical purchase remittances, as well as business procedures such as transfers and financial management for customers in Hubei. fees, adjust the upper limit of the system payment amount, open a green approval channel, and provide comprehensive credit to epidemic prevention and control enterprises; JPMorgan Chase provides financial assistance for the purchase of anti-epidemic materials, support for medical staff and patient families, etc.
Secondly, in addition to financial rescue, banking financial institutions are also actively increasing credit support through emergency loans, special loans, etc., to fully protect the financing needs of epidemic prevention enterprises.
According to association data, as of February 4, the banking industry has issued more than 160 billion yuan in loans for epidemic prevention and production support for related enterprises. At the same time, many banks have lowered interest rates on inclusive small and micro enterprise loans in Hubei Province by 0.35 to 0.5 percentage points based on the existing interest rates.
Among them, the China Development Bank provided 24.9 billion yuan in anti-epidemic credit support; the Agricultural Development Bank of China and the Export-Import Bank of China provided 10.067 billion yuan in anti-epidemic credit support; The total amount of credit support to fight the epidemic is 34.862 billion yuan; 12 joint-stock banks including China Merchants Bank, China Everbright, and Industrial Bank provided a total of 56.437 billion yuan of credit support to fight the epidemic; 34 city commercial banks and private banks provided special credit for epidemic prevention and control of 17.198 billion yuan; the national rural credit institutions passed Provided credit support of 17.306 billion yuan to relevant enterprises.
For example, Wuhan Rural Commercial Bank issued the "Twelve Measures to Do All-out Epidemic Prevention and Control and Strengthen Financial Services" and arranged a special credit line of 3 billion yuan for the distribution of medical equipment and epidemic prevention. Control loans.
Thirdly, in order to ensure efficient and timely fund transfers during special periods, many banks have also established "green channels" for credit, exchange and other financial services for relevant enterprises, and allocated dedicated personnel to handle special cases. , ensuring that relevant funds can reach the epidemic area as soon as possible.
For example, since the outbreak of the epidemic, China Construction Bank has opened a green channel for credit approval for a number of relevant enterprises. The Shanghai Pudong Branch of the bank has handled special matters and urgent matters, and under the joint coordination of multiple departments, It quickly completed the approval of a 25 million yuan working capital loan for agricultural and sideline products and other related corporate customers, ensuring the supply of "vegetable basket" products for the people; at the same time, it only took 2 days to complete the issuance of a 100 million yuan working capital loan, which met the needs of United Imaging Medical The need to expand production allowed the company's two CT machines to be sent to Wuhan Huoshenshan Hospital as soon as possible.
Industrial Bank has launched a green channel for cross-border financial services to provide rapid global procurement of masks, imported disinfection equipment, disinfectant towels and other protective materials for many companies in Beijing, Shanghai, Hainan, Anhui, Heilongjiang and other provinces and cities. Facilitate financial services and ensure the arrival of medical protective materials as soon as possible.
According to incomplete statistics, during the Spring Festival, the bank has handled cross-border foreign exchange payment business for the import of medical supplies for more than ten companies, with a total amount equivalent to more than 12 million yuan.
Finally, considering that the epidemic will have a large impact on the economy in the short term and bring severe challenges to small, medium and micro enterprises with weak risk response capabilities, banking financial institutions have made concerted efforts to respond to the government’s call and adopt multiple measures. Simultaneously develop differentiated financial service methods to actively support the development of small and micro enterprises affected by the epidemic, including:
First, optimize the loan development method. For industries such as wholesale and retail, accommodation and catering, logistics and transportation, and cultural tourism that have been greatly affected by the epidemic, as well as enterprises with development prospects but temporarily trapped, many banks have stated that they will not withdraw loans, cut off loans, or press loans, and actively provide loans through extensions, Full support will be provided through loan renewal without principal repayment, credit restructuring, overdue interest reduction and exemption, etc. For example, Shanghai Pudong Development Bank has designed an exclusive "loan renewal without principal repayment" business plan for Wuhan customers. The company can complete the loan renewal without returning the original loan principal. After the loan is renewed, the loan term will be extended by one year, and the borrowing company will be given the most favorable interest rate.
The second is to lower corporate loan interest rates. In order to reduce the impact of the new coronavirus epidemic on small and micro enterprises in Hubei and enhance the vitality of small and micro enterprises, many banks such as Agricultural Bank of China, China Construction Bank, Bank of Communications, and Bohai Bank have expressed their support to inclusive small and micro enterprises in Hubei Province. Operating loans for individual industrial and commercial households and private business owners will be reduced by 0.5 percentage points based on the existing interest rates to reduce the financing costs of small and micro enterprises. Zhejiang MYBank will continue to lend money to the 1.5 million Hubei stores and the 300,000 medical stores that are fighting the epidemic, and will reduce the interest rate by 10%.
Insurance companies completed multiple COVID-19 claims
After the outbreak, insurance institutions acted quickly, donating large amounts of donations and materials to key areas, donating insurance to medical staff, and rushing to fight the epidemic. Work.
On February 4, the first batch of medical supplies donated by Taikang arrived at Leishenshan Hospital in advance, including 10,000 isolation gowns and 20,000 other medical supplies, with a total cost of 4 million yuan, and will be shipped in batches. Da.
As of February 5, Taikang Insurance *** has donated 30 million yuan, donated 10 million yuan and special insurance for Wuhan medical staff, and donated a year's insurance coverage of 200,000 yuan to the first batch of nearly 700 journalists fighting on the front lines of epidemic prevention and control. personal insurance.
On February 4, Hua Xia Insurance’s “Liu Li Guang Epidemic Prevention Insurance Donation Plan” was officially launched, providing 20 million customers and 500,000 front-line and front-line business partners with a free protection limit of 200,000 yuan per person. The insured amount reaches 4 trillion yuan and the insurance period is 90 days.
As of February 5, China Continent Insurance has donated exclusive insurance to traffic police in Hubei, Shanghai and other places and journalists fighting on the front line of the epidemic, with a cumulative insured amount of nearly 5 billion yuan. Recently, China Continent Insurance donated exclusive insurance coverage to 1,200 traffic policemen of the Traffic Police Corps of the Shanghai Public Security Bureau. Each traffic policeman who died due to infection with the new coronavirus will be compensated 500,000 yuan, and each person will be compensated 100,000 yuan for accidental injuries. , with a total insured amount of 720 million yuan.
Second, actively expand insurance liability. In addition to donations, donations of goods and insurance, various insurance companies have also actively responded to the call of the China Banking and Insurance Regulatory Commission, and good news about expanding insurance liabilities has continued to come.
On February 3, the Personal Insurance Department of the China Banking and Insurance Regulatory Commission issued a notice requiring all personal insurance companies to optimize existing product claims standards and appropriately expand insurance liabilities.
Nearly 40 insurance companies, including Ping An Life, New China Insurance, Sunshine Life, Pearl River Life, Kunlun Health, Junkang Life, and Changan Liability Insurance, have successively released news on the expansion of insurance liability based on the needs of the epidemic.
On February 4, Ping An Life announced that it would provide 10 million free quotas for the "E-Lu Ping An Insurance Plan". This insurance plan extends the liability of "Ping An Le Traffic Accident Insurance" and expands the compensation liability for pneumonia caused by the new coronavirus on the basis of the original product liability. According to the expanded liability of the insurance, if the insured dies or becomes disabled due to pneumonia caused by the new coronavirus, he or she may receive a compensation of up to 100,000 yuan. This insurance plan covers people aged 0-65, with an insurance period of 90 days.
On February 5, Xinhua Insurance announced that the IKEA Insurance and Anxin Insurance product plans will extend the insurance liability to death and disability caused by the new coronavirus pneumonia on the basis of the original insurance liability. In addition, Sunshine Life completed its first critical illness insurance liability extension claim on February 4.
China Life stated that as of February 1, the company had found 126 customers suspected or confirmed to have new coronavirus pneumonia, involving 13 provinces. It has also completed claims settlement for 8 sick customers and front-line anti-epidemic personnel, including 5 from Hubei and 1 each from Zhejiang, Guangdong and Inner Mongolia. The Hubei branch paid insurance premiums of more than 860,000 yuan to three customers. The fastest compensation case took only 2 hours from contacting the customer to receiving the insurance funds.
Taiping Life Insurance, a subsidiary of China Taiping, has also quickly completed four cases of pneumonia medical insurance claims involving new coronavirus infections for customers, with a total compensation of 126,500 yuan. At present, China Taiping’s “Medical Careless” insurance donated to Wuhan medical staff has received 132 reports, and has quickly completed the settlement of 2 medical claims for 2 medical staff in Wuhan Central Hospital and Wuhan No. 1 Hospital, each worth 50,000 yuan, providing support for the fight against the epidemic. Frontline medical staff send a ray of insurance care.
As of the evening of February 3, insurance companies under Ping An of China have completed a total of 13 new coronavirus pneumonia claims, with a total compensation amount of more than 740,000 yuan, and all were completed online, avoiding the need for personnel to go out and communicate. .
As of February 1, China Pacific Insurance *** received reports from 42 life insurance customers from 15 branches, and it took only 15 minutes to complete the first death insurance payment on the same day. At the same time, China Pacific Insurance Hubei Branch quickly launched a green claim settlement channel for Chinese herbal medicine companies that suffered drought losses. It reached a claim settlement agreement of 5.98 million yuan in just two days, and prepaid 5 million yuan in compensation on January 21.
Establishing special charitable trusts
To fight the epidemic, the trust industry is taking action.
After its establishment on January 26 (the second day of the Lunar New Year), in just two days, the special charitable trust raised 22.1 million yuan in the first two phases.
On January 28, the third phase of fundraising for the charitable trust was completed. 18 trust companies participated in this phase, raising a total of 8.7 million yuan.
So far, a total of 61 trust companies have participated in the establishment of special charitable trusts. Subsequently, these 61 trust companies will jointly serve as the trustees of special charitable trusts. Under the guidance and organization of the China Trusteeship Association, they will participate in the entire management of charitable trusts by establishing a trustee management committee.
It is worth mentioning that China Communications Trust, headquartered in Wuhan, Hubei Province, donated 1 million yuan and served as the trustee of the above-mentioned charitable trust.
The relevant person in charge of China Communications Trust said that after learning about the gap in epidemic prevention materials, the company immediately decided to invest and initiate the establishment of a charitable trust. With the support of the Trust Industry Association and trust peers, the company served as trustee to initiate the establishment of a special charitable trust to support Hubei's aid and relief work in preventing and controlling pneumonia caused by the new coronavirus infection.
“As a financial institution headquartered in Wuhan, a large number of the company’s employees are in Wuhan and surrounding counties and cities, and have very deep feelings for Hubei and Wuhan. We must be at the forefront in the fight against the epidemic.” Guotong The person in charge of the trust said.
The China Trusteeship Association pointed out that the purpose of special charitable trusts is mainly to prevent and control the new coronavirus pneumonia epidemic and rescue the damage caused by it. The direction of use of the trust property includes donating it to charity organizations and medical systems and other epidemic prevention and control and treatment-related institutions that can legally accept donations, issuing epidemic prevention guarantees to medical staff, volunteers and the public, providing compensation to families who died due to the epidemic, and using it for medical treatment after the epidemic is over. For public health undertakings such as scientific research and emergency relief, charitable trusts are open-ended and can accept additional charitable funds.
At present, the first batch of rescue project funds has been released. At the same time, the special charitable trust is connecting with other funding projects that meet the purpose of the trust, strictly selecting them, accelerating implementation, and delivering them accurately.
On January 25, Cedar International Trust, a subsidiary of Cedar Holdings, donated 10 million yuan to the Wuhan Charity Federation through the Guangzhou Charity Federation, and donated the first batch of medical supplies to the Wuhan Red Cross, including a 40,000 surgical masks, 5,000 N95 masks, and 200 protective suits are used in Wuhan to prevent and control the epidemic.
On January 26, CITIC Trust and its subsidiary CITIC Prudential Fund donated 12 million yuan, including 10 million yuan to Wuhan Charity Federation and 2 million yuan to Huanggang Charity Federation; on the same day , AVIC Trust donated the first batch of materials - novel coronavirus nucleic acid detection reagents to the Wuhan Red Cross Society. On January 27, Everbright Trust made its first donation of RMB 3.5 million to the affected areas in Hubei to support the fight against the new pneumonia epidemic.
The team rushing to help is still expanding. On February 6, Ping An Trust stated that the company immediately established an epidemic prevention leading group headed by Yao Guiping, secretary of the company’s party committee and chairman. The company has joined hands with many invested companies in the medical, environmental protection, highway and other industries to fully engage in the fight against the epidemic with practical actions to help win the battle against epidemic prevention and control.
What is emergency refinancing?
Emergency on-loan business refers to the provision of loan repayment and loan renewal for small, medium and micro enterprises (including individual industrial and commercial households) that meet the bank's credit conditions and whose loans are about to expire and have temporary difficulties in repaying the loan in full. Short-term financing services. Small, medium and micro enterprises are a new force in national economic and social development and an important force in expanding employment, improving people's livelihood and promoting entrepreneurship and innovation. The Party Central Committee and the State Council attach great importance to the development of small and medium-sized enterprises and have introduced a series of policies and measures, which have achieved positive results. Since 2014, provincial and municipal units including Shandong Province, Zhejiang Province, Guangdong Province, Jiangsu Province, Hunan Province and other provinces have established corresponding on-loan funds, ranging in size from 20 million to 1 billion, to vigorously support local small and medium-sized enterprises. Micro enterprises, effectively solve the problems of local small, medium and micro enterprises such as "difficulty in financing and expensive financing". However, with the changes in the international and domestic market environment, especially the impact of the COVID-19 epidemic since 2020, problems such as difficulty in financing and expensive financing for small, medium and micro enterprises have become particularly prominent.
1. Loan conditions refer to the conditions that a borrowing unit or individual should meet to borrow money from a bank.
The bank's current loan conditions are:
(1) It is established with the approval of the competent department and holds a business license issued by the industrial and commercial administration department at or above the county level. For products that have national industrial product production licenses, the enterprise must obtain a production license. License, that is, the loan recipient should have legality;
(2) Implement independent economic accounting and have the authority to use funds and production and operation management, that is, the loan recipient has obtained legal person qualifications and assumes clear economic responsibilities;
(3) Have a certain amount of self-owned working capital and establish a working capital supplement system, that is, the loan recipients should have the ability to operate normally and bear risks;
(4) In the bank Open an account and submit financial accounting statements and statistical information to the bank on time, that is, the loan recipient should accept the supervision of the bank.
2. Conditions for applying for a loan to buy a house:
1. Natural persons aged 18-60 years old (Hong Kong, Macao, Taiwan and foreigners are also acceptable).
2. Have a stable career, stable income, and the ability to repay loan principal and interest on schedule.
3. The borrower’s actual age plus term should not exceed 70 years old.
4. Have legal and valid contracts and agreements for purchasing, constructing, and overhauling housing, as well as other supporting documents required by the lending bank.
5. Have self-raised funds of more than 30% of the total price of the house purchased (for those who purchase self-occupied houses with a floor area of ??less than 90 square meters, the self-raised funds ratio is 20%), and guarantee A down payment for a home purchased.
6. With assets recognized by the lending bank or (and) a legal person, other economic organization or natural person with sufficient solvency as a guarantee.
I would like to ask what should I do if I cannot repay my online loan during the epidemic?
We can discuss repayment in installments or postponement.
The China Banking and Insurance Regulatory Commission issued the "Notice on Strengthening the Cooperation of the Banking and Insurance Industry Financial Services in the Prevention and Control of the Pneumonia Epidemic of New Coronavirus Infection" on January 26. The notice clearly stated that for those who have temporarily lost their jobs due to the epidemic, People with income sources should be appropriately tilted in credit policies, flexibly adjust personal credit repayment arrangements such as housing mortgages and credit cards, and reasonably postpone the repayment period.
In other words, if you are temporarily without a source of income due to the impact of the epidemic, you can reasonably delay your mortgage and credit card payments.
The Banking Association issued an initiative to all member units on the 27th to encourage personal loans during the epidemic for medical staff, government workers involved in epidemic prevention and control, and those who have temporarily lost their source of income due to the epidemic. . If a credit card overdraft is overdue, the repayment period will be reasonably extended, and it will not be regarded as a breach of contract for the time being, and will not be included in the list of defaulting customers.
At the same time, it also calls for the issuance of emergency loans or special loans to areas severely affected by the epidemic, with special interest rate concessions and reduction of relevant handling fees.