1. Raise awareness and accurately grasp the principles of “cash loan” business development

(1) To establish a financial institution and engage in financial activities, you must accept access management in accordance with the law. No organization or individual is allowed to operate the lending business without obtaining the qualifications to operate the lending business in accordance with the law.

(2) The comprehensive capital costs charged by various institutions from borrowers in the form of interest rates and various fees should comply with the provisions of the Supreme People's Court on private lending interest rates, and it is prohibited to issue or match loans that violate the relevant provisions of the law on interest rates. loan. The comprehensive capital costs charged by various institutions from borrowers should be uniformly converted into an annualized form, and information such as various loan conditions and overdue treatment should be fully and publicly disclosed in advance to remind borrowers of relevant risks.

(3) All types of institutions should abide by the "know your customer" principle, fully protect the rights and interests of financial consumers, and must not induce borrowers to over-leverage or fall into a debt trap in any way. The borrower's credit situation, solvency, loan purpose, etc. should be comprehensively and continuously evaluated, and the borrower's suitability, comprehensive capital cost, loan amount limit, loan term, loan extension restrictions, "cooling-off period" requirements, loan purpose limitations, and repayment should be carefully determined. Payment methods, etc.

Loans are not allowed to be granted to borrowers with no source of income. The total debt burden of principal, interest and fees for a single loan should be clearly set at an upper limit, and the number of loan extensions should generally not exceed 2 times.

(4) All types of institutions should adhere to the principle of prudent operation, comprehensively consider the possible impact of factors such as lack of credit records, long borrowings, and fraud on loan quality, strengthen internal risk control, and use "data-driven" methods with caution. Risk control models must not hide non-performing assets in various ways.

(5) All types of institutions or entrusted third-party institutions are not allowed to collect loans through violence, intimidation, insult, slander, harassment, etc.

(6) All types of institutions should strengthen the security protection of customer information, and are not allowed to steal or abuse customer private information in the name of "big data", and are not allowed to illegally buy, sell or leak customer information.

2. Coordinate supervision and carry out clean-up and rectification of online small loan companies

(1) The supervision department of small loan companies has suspended the approval of new online (Internet) small loan companies; It is suspended that new batches of small loan companies carry out small loan business across provinces (autonomous regions and municipalities). If the preparation for construction has been approved, the approval for opening will be suspended.

The approval department of a small loan company shall comply with the relevant documents of the State Council. For approved institutions that do not meet relevant regulations, their business qualifications must be re-checked.

(2) Strictly standardize the management of online small loan business. The issuance of small online loans without specific scenarios or designated purposes will be suspended, existing business will be gradually compressed, and rectification will be completed within a time limit. Effective measures should be taken to prevent borrowers from "using loans to support loans" and "multiple loans". The issuance of "campus loans" and "down payment loans" is prohibited. It is prohibited to issue loans for speculative operations such as stocks and futures. Local financial regulatory authorities should establish sustained and effective regulatory arrangements, and the central financial regulatory authorities will strengthen supervision.

(3) Strengthen the prudent management of the funding sources of small loan companies. It is prohibited to illegally raise funds or absorb deposits from the public in any way. The sale, transfer and disguised transfer of the company's credit assets through the Internet platform or various local trading venues is prohibited. It is prohibited to borrow funds through online lending information intermediaries. Funds raised in the name of credit asset transfer, asset securitization, etc. should be combined with on-balance sheet financing. The ratio of total financing to net capital after the merger will be temporarily implemented in accordance with the current local ratio regulations. All localities are not allowed to further relax or relax small loans in disguised form. Regulations on the proportion of capital raised by the company.

For small loan companies that exceed the ratio requirements, a scale reduction plan should be formulated to meet the relevant ratio requirements within a time limit, and the supervision and execution of the small loan company supervision department should be carried out.

The supervision departments of small loan companies in each province (autonomous region and municipality) are specifically responsible for the clean-up and rectification of online small loans. The central financial regulatory authorities will formulate and issue an implementation plan for special rectification of online small loan risks and further refine relevant work requirements.

3. Increase efforts to further regulate the participation of banking financial institutions in the "cash loan" business

(1) Banking financial institutions (including banks, trust companies, consumer finance companies, etc.) ) should strictly follow the "Interim Measures for Personal Loan Management" and other relevant regulatory and risk management requirements to standardize loan issuance activities.

(2) Banking financial institutions shall not provide funds or issue loans in any form to institutions without lending business qualifications, nor may they jointly fund and issue loans with institutions without lending business qualifications.

(3) Banking financial institutions that cooperate with third-party institutions to carry out loan business shall not outsource core businesses such as credit review and risk control. The "loan assistance" business should return to its roots. Banking financial institutions are not allowed to accept disguised credit enhancement services such as credit enhancement services and full commitments from third-party institutions without guarantee qualifications. They should require and ensure that third-party cooperative institutions are not allowed to charge interest fees from borrowers. .

(4) Banking financial institutions and the asset management products they issue and manage are not allowed to directly invest or invest in disguised form in assets sold based on "cash loans", "campus loans", "down payment loans", etc. (Class) securitization products or other products.

Banking financial institutions' participation in the standardization and rectification work of the "cash loan" business will be carried out by the local offices of the China Banking Regulatory Commission, with the cooperation of local rectification offices.

IV. Continue to promote and improve the business management of P2P online lending information intermediaries

(1) It is not allowed to match or match in disguised lending business that does not comply with the relevant provisions of the law on interest rates; it is prohibited to borrow from the loan principal Interest, handling fees, management fees, margins, and high overdue interest, late payment fees, penalty interest, etc. will be deducted from the deposit in advance.

(2) Core tasks such as customer information collection, screening, credit assessment, and account opening shall not be outsourced.

(3) Banking financial institutions shall not be matched with funds to participate in P2P online lending.

(4) Loan matching business shall not be provided to school students or borrowers who have no source of repayment or the ability to repay. It is not allowed to provide "down payment loans", real estate off-site financing and other home purchase financing and loan matching services. Loan matching business without specified purpose shall not be provided.

The joint work offices for the special rectification of online lending risks in various regions should combine the requirements of the "Notice on Carrying out Clean-up and Rectification of "Cash Loan" Business Activities" (Online Loan Rectification Office Letter [2017] No. 19), and conduct Information intermediaries carry out "cash loan" business to clean up and rectify.

5. Classified disposal, and increase the intensity of disposal of various illegal institutions

(1) If various institutions conduct business in violation of the aforementioned regulations, the regulatory authorities shall, according to the severity of the case, Measures such as suspending business, ordering corrections, notifying criticism, refusing to file, and canceling business qualifications will be adopted to urge them to rectify and correct. If the circumstances are serious, they will be resolutely banned; at the same time, relevant functional departments of the provincial people's government and financial regulatory authorities will implement administrative penalties in accordance with the law, as appropriate. Relevant departments should stop websites and platforms that assist various institutions in conducting business in violation of laws and regulations and hold them accountable in accordance with the law.

(2) For organizations or individuals that operate lending business without approval, under the guidance of the China Banking Regulatory Commission, local governments will severely crack down on and ban them in accordance with the law; for those who take the opportunity to evade debts and do not support the clean-up and rectification work, Increase penalties and crackdowns; those suspected of illegal operations will be transferred to relevant departments for investigation and punishment; financial institutions and non-bank payment institutions will stop providing financial services, and the communications management department will deal with Internet financial websites and mobile applications in accordance with the law.

Those suspected of illegal fund-raising, illegal securities and other illegal activities will be investigated and punished according to working mechanisms such as handling illegal fund-raising, cracking down on illegal securities activities, cleaning up and rectifying various trading venues.

(3) For institutions suspected of serious violations of laws and regulations such as malicious fraud and violent debt collection, promptly transfer clues to the public security organs to effectively prevent risks and ensure overall social stability.

6. Pay close attention to implementation, pay attention to long-term effects, and ensure the effectiveness of standardization and rectification work

(1) All localities should strengthen organizational leadership and overall coordination, with local financial regulatory authorities taking the lead and clarifying the The department responsible for the rectification of similar institutions should understand the risk base, formulate a rectification plan, consolidate the main responsibilities of the practitioners within the jurisdiction, carry out comprehensive and in-depth clean-up and rectification, and quickly establish a working mechanism that combines local responsibilities with cross-regional collaboration. At the same time, make emergency plans and keep the bottom line of risks.

(2) All localities should guide relevant institutions within their jurisdictions to make full use of the national financial credit information basic database and the China Internet Finance Association’s credit information sharing platform to prevent borrowers from over-borrowing and over-borrowing. All localities should guide borrowers to fulfill their debt repayment responsibilities in accordance with the law, and establish systems such as information disclosure and joint punishment for dishonesty, so that the dishonest will be restricted everywhere despite their breach of trust.

(3) All localities should carry out risk warning education to improve the public's ability to identify unfair, fraudulent loan activities and illegal financial activities, and enhance risk prevention awareness.

(4) All localities should establish a reporting and heavy reward and punishment system, make full use of the China Internet Finance Association’s reporting platform and other channels, reward whistleblowers who provide clues about illegal activities, give full play to the role of social supervision, and Violations of laws and regulations will be severely punished to provide an effective deterrent.

(5) All localities should carry out standardized rectification in strict accordance with the requirements of this notice. Those who lack supervisory responsibilities and fail to implement them will be severely held accountable.

(6) All localities should submit the rectification plan and monthly work progress (within 5 working days after the month) to the Office of the Special Rectification Working Group for P2P Online Lending Risks (CBRC), and send a copy to the Internet Financial Risk Special Project Office of the Leading Group for Rectification (People's Bank of China).

Extended information

Article 8 of the "Provisions on the Administration of Loan Companies" to establish a loan company shall meet the following conditions:

(1) Have a charter that meets the regulations;< /p>

(2) The registered capital shall not be less than RMB 500,000, which shall be paid-in monetary capital and shall be paid in full at one time by the investor;

(3) Having professional knowledge and business Senior managers with work experience;

(4) Have staff with corresponding professional knowledge and experience;

(5) Have the necessary organizational structure and management system;

p>

(6) Have business premises, safety precautions and other business-related facilities that meet the requirements;

(7) Other conditions specified by the China Banking Regulatory Commission.

Government Information Disclosure-China Banking Regulatory Commission