Article 7 Financial assets shall be divided into the following four categories at the time of initial recognition:

(1) Financial assets measured at fair value and whose changes are included in current profits and losses, including trading financial assets and financial assets designated as measured at fair value and whose changes are included in current profits and losses;

(2) held-to-maturity investment;

(3) Loans and receivables;

(4) Financial assets available for sale.

Article 8 Financial liabilities shall be divided into the following two categories when initially recognized:

(1) Financial liabilities measured at fair value and whose changes are included in current profits and losses, including trading financial liabilities and financial liabilities designated as measured at fair value and whose changes are included in current profits and losses;

(2) Other financial liabilities.

Article 9 Financial assets or financial liabilities that meet one of the following conditions shall be classified as transactional financial assets or financial liabilities:

(1) The purpose of acquiring the financial assets or assuming the financial liabilities is mainly to sell or buy back in the near future.

(2) It is a part of the identifiable financial instrument portfolio under centralized management, and there is objective evidence that the enterprise recently managed the portfolio through short-term profit.

(3) It is a derivative instrument. However, derivatives designated as effective hedging instruments, derivatives belonging to financial guarantee contracts, and derivatives linked to equity instruments that are not quoted in an active market and whose fair value cannot be reliably measured and must be settled by delivering the equity instruments are excluded.

Article 10 In addition to the provisions of Articles 21 and 22 of these Standards, only financial assets or financial liabilities that meet one of the following conditions can be designated as financial assets or financial liabilities measured at fair value and whose changes are included in current profits and losses at initial recognition:

(1) The designation can eliminate or significantly reduce the inconsistency in the recognition or measurement of related gains or losses caused by different measurement bases of financial assets or financial liabilities.

(2) The formal written document of the enterprise's risk management or investment strategy has stated that the financial asset portfolio, financial liability portfolio or financial asset and financial liability portfolio should be managed and evaluated on the basis of fair value and reported to key management personnel.

Investment in equity instruments that are not quoted in an active market and whose fair value cannot be reliably measured shall not be designated as financial assets that are measured at fair value and whose changes are included in current profits and losses.

An active market refers to a market with the following characteristics:

(1) The trading objects in the market are homogeneous;

(2) Buyers and sellers of voluntary transactions can be found at any time;

(3) Market price information is open.

Article 11 The term "held-to-maturity investment" refers to a non-derivative financial asset with a fixed maturity date and a fixed or determinable recovery amount, and the enterprise has a clear intention and ability to hold it to maturity. The following non-derivative financial assets should not be classified as held-to-maturity investments:

(1) Non-derivative financial assets designated at fair value at initial recognition and whose changes are included in current profits and losses;

(2) Non-derivative financial assets designated as available for sale at the time of initial recognition.

(3) Loans and receivables.

An enterprise shall evaluate its holding intention and ability on the balance sheet date. If there is any change, it shall be handled in accordance with the relevant provisions of this specification.

Article 12 In any of the following circumstances, it indicates that the enterprise has no clear intention to hold the investment in financial assets to maturity:

(1) The term of holding this financial asset is uncertain.

(2) When the market interest rate changes, liquidity demand changes, alternative investment opportunities and their investment returns change, financing sources and conditions change, and foreign exchange risks change, the financial assets will be sold. Except for the sale of financial assets caused by uncontrollable, unpredictable and unreasonable independent events.

(3) The amount that the issuer of financial assets can pay off is obviously lower than its amortized cost.

(4) Other circumstances that indicate that the enterprise has no clear intention to hold the financial asset to maturity.

Article 13 The amortized cost of a financial asset or financial liability refers to the result of the following adjustments to the initial recognition amount of the financial asset or financial liability:

(1) Deducting the repaid principal;

(2) Add and subtract the accumulated amortization amount formed by amortizing the difference between the initial confirmation amount and the maturity date amount by the effective interest rate method;

(3) Deduct the impairment losses that have occurred (only applicable to financial assets).

Article 14 The effective interest rate method refers to the method of calculating the amortized cost and interest income or interest expense of each period according to the actual interest rate of financial assets or financial liabilities (including a group of financial assets or financial liabilities).

The effective interest rate refers to the interest rate used to discount the future cash flow of financial assets or financial liabilities within the expected period or shorter period (if applicable) to the current book value of the financial assets or financial liabilities.

When determining the real interest rate, the future cash flow should be predicted on the basis of considering all contract terms of financial assets or financial liabilities (including early repayment rights, call options and similar options). ), but future credit losses should not be considered.

When determining the real interest rate, we should consider the fees, transaction fees, premiums or discounts paid or collected between the parties to the financial assets or financial liabilities contract, which are part of the real interest rate. When the future cash flow or duration of a financial asset or financial liability cannot be predicted reliably, the contract cash flow of the financial asset or financial liability within the whole contract period shall be adopted.

Article 15 In any of the following circumstances, it means that an enterprise cannot hold investment in financial assets with a fixed term to maturity:

(1) There are no available financial resources to continuously provide financial support for this financial asset investment, so that this financial asset investment can be held to maturity.

(2) Limited by laws and administrative regulations, it is difficult for enterprises to hold the financial asset investment to maturity.

(3) Other circumstances indicating that the enterprise cannot hold fixed-term investment in financial assets.

Article 16 When an enterprise sells or reclassifies an unexpired held-to-maturity investment as an available-for-sale financial asset in this fiscal year, when the amount of the investment before the sale or reclassification is relatively large, it shall reclassify the remaining part of the investment as an available-for-sale financial asset, and shall not reclassify the financial asset as a held-to-maturity investment in this fiscal year and the next two full fiscal years. However, there are the following exceptions:

(1) The sale date or reclassification date is close to the maturity date or redemption date of the investment (for example, within three months before the maturity date), and the change of market interest rate has no significant impact on the fair value of the investment.

(2) After almost all of the initial principal of the investment is recovered by regular repayment or early repayment as agreed in the contract, the rest is sold or reclassified.

(3) The sale or reclassification is caused by an independent event beyond the control of the enterprise, which is not expected to happen repeatedly and is difficult to predict reasonably. This situation mainly includes:

1. The held-to-maturity investment is sold due to the serious deterioration of the credit status of the invested unit;

2. The held-to-maturity investment is sold because the relevant tax laws and regulations cancel the pre-tax deduction policy of interest on held-to-maturity investment, or greatly reduce the pre-tax deduction amount;

3. Selling held-to-maturity investments in order to maintain the current interest rate risk position or maintain the current credit risk policy due to major enterprise merger or major disposal;

4. Selling the held-to-maturity investment due to the major adjustment of the permitted investment scope or the investment limit of specific investment varieties by laws and administrative regulations;

5. The held-to-maturity investment shall be sold because the regulatory authorities require that the liquidity of assets be greatly improved or the risk weight of held-to-maturity investment in the calculation of capital adequacy ratio be greatly increased.

Article 17 Loans and receivables refer to non-derivative financial assets that are not quoted in an active market and have a fixed or determinable recovery amount. Enterprises should not divide the following non-derivative financial assets into loans and receivables:

(1) Non-derivative financial assets to be sold immediately or in the near future.

(2) Non-derivative financial assets that are designated at fair value at the time of initial recognition and whose changes are included in current profits and losses.

(3) Non-derivative financial assets designated as available for sale at the time of initial recognition.

(4) For reasons other than the debtor's credit deterioration, it may be difficult for the holder to recover almost all the non-derivative financial assets of the initial investment.

Securities investment funds or similar funds held by enterprises should not be divided into loans and receivables.

Article 18 Available-for-sale financial assets refer to non-derivative financial assets designated as available-for-sale at the time of initial recognition, and financial assets other than the following types of assets:

(1) Loans and receivables.

(2) held-to-maturity investment.

(3) Financial assets measured at fair value and whose changes are included in current profits and losses.

Article 19 After an enterprise classifies financial assets or financial liabilities as those measured at fair value and whose changes are included in the current profits and losses, it cannot be reclassified as other financial assets or financial liabilities; Other types of financial assets or financial liabilities cannot be reclassified as financial assets or financial liabilities measured at fair value and whose changes are included in current profits and losses.

Two. Article 16 of the Measures for Punishment of Financial Violations stipulates that financial institutions shall not engage in the following acts when handling loan business. A. Issuing credit loans to related parties B. Issuing loans to related parties ...

Reference answers: a, b, c, e

Third, the original text of Article 16 of Finance?

Finance 16 measures to support real estate:

1, stabilize real estate development loans;

2. Support the reasonable demand for individual housing loans;

3. Stabilize the credit supply of construction enterprises;

4. Support the reasonable extension of stock financing such as development loans and trust loans;

5. Keep bond financing basically stable;

6. Maintain the financing stability of asset management products such as trust;

7. Support development policy banks to provide special loans for "Baojiao Building";

8. Encourage financial institutions to provide supporting financing support;

9. Do a good job in financial support for real estate project mergers and acquisitions;

10, actively explore market-oriented support methods;

1 1. Encourage independent negotiation according to law to postpone the repayment of principal and interest;

12. Effectively protect the personal creditor's rights of deferred loans;

13. Extend the transitional arrangements for the centralized management policy of real estate loans;

14, optimize the M&A financing policy of real estate projects in stages;

15, optimizing the rental credit service;

16. Broaden diversified financing channels in the leasing market.

Fourth, focus on good! Financial article 16 fully supports the stable and healthy development of the real estate market.

Recently, a Notice on Doing a Good Job in Financial Support for the Stable and Healthy Development of the Real Estate Market (hereinafter referred to as the Notice) jointly issued by the People's Bank of China and the China Banking Regulatory Commission has been widely circulated in the real estate circle, causing heated discussion.

The "Notice" is divided into six sections, including keeping real estate financing stable and orderly, actively doing a good job in "guaranteeing the delivery of houses" financial services, actively cooperating with the risk disposal of trapped real estate enterprises, and protecting the legitimate rights and interests of housing finance consumers according to law, and sixteen measures to support the stable and healthy development of the real estate market.

Many insiders said in an interview with the reporter of National Business Daily on June 165438+ 10/3 that the Notice is very important and informative, which will have a positive and important impact on the current real estate market, and also reflect the attitude of the regulatory authorities towards real estate finance, so as to avoid the occurrence of systemic risks caused by failure and accelerated deleveraging.

According to CBN, the Banking Insurance Regulatory Bureau of a northern province said that it had received the above notice on the afternoon of 165438+ 10/2, and forwarded it to the insurance institutions of banks as required.

Screenshot of the notice circulated in the real estate circle.

Stabilize real estate development loans, and treat state-owned and private housing enterprises equally.

Sixteen financial measures in the notice include: 1, stabilizing real estate development loans; 2. Support the reasonable demand for individual housing loans; 3. Stabilize the credit supply of construction enterprises; 4. Support the reasonable extension of stock financing such as development loans and trust loans; 5. Keep bond financing basically stable; 6. Maintain the financing stability of asset management products such as trust; 7. Support development policy banks to provide special loans for "Baojiao Building"; 8. Encourage financial institutions to provide supporting financing support; 9. Do a good job in financial support for real estate project mergers and acquisitions; 10, actively explore market-oriented support methods; 1 1. Encourage independent negotiation according to law to postpone the repayment of principal and interest; 12. Effectively protect the personal creditor's rights of deferred loans; 13. Extend the transitional arrangements for the centralized management policy of real estate loans; 14, optimize the M&A financing policy of real estate projects in stages; 15, optimizing the rental credit service; 16. Broaden diversified financing channels in the leasing market.

In terms of keeping real estate financing stable and orderly, the Notice requires that real estate development loans be put on a stable basis. Adhere to the "two unwavering" principle and treat all kinds of real estate enterprises, such as state-owned and private, equally; Support the reasonable demand for personal housing loans, stabilize the credit supply of construction enterprises, keep the bond financing basically stable, and keep the financing of asset management products such as trusts stable.

Yan Yuejin, research director of the think tank center of Yiju Research Institute, told the reporter of National Business Daily on June 3 through WeChat 1 13 that the new regulation of "Circular No.6 of the Central Bank/KLOC-0" is a systematic summary and adjustment of the new round of real estate finance, and it is also the clearest and most comprehensive real estate financial system route since the 20th National Congress. In fact, the policy criticizes three discriminatory real estate credit lending practices, namely, less support for private enterprises, less support for real estate enterprises focusing on real estate main business, neglect of support for the whole real estate enterprise due to the explosion of projects, and clearly stipulates that all kinds of real estate enterprises such as state-owned and private enterprises are treated equally; This adjustment is helpful to correct the working ideas of financial institutions, ensure the impartiality of the route and enhance the execution.

Specifically, the Notice requires supporting the reasonable extension of stock financing such as development loans and trust loans. For stock financing such as development loans and trust loans of real estate enterprises, on the premise of ensuring the security of creditor's rights, financial institutions and real estate enterprises are encouraged to negotiate independently on the basis of commercial principles, and actively support them by extending stock loans and adjusting repayment arrangements to promote the completion and delivery of projects. Since the date of issuance of the Notice, if it expires in the next 6 months, it can be extended beyond the original provisions for 1 year, without adjusting the loan classification, and the loan classification submitted to the credit information system is consistent with it.

Yan Yuejin believes that from the aspect of work optimization, the policy mentioned two contents, namely, allowing 1 year extension and not adjusting the loan classification, which is of great significance.

"In view of the special situation of the real estate market, the application of the extension system in the field of real estate loans will increase. The extension mode is helpful to promote the stability of the loan policy of financial institutions and prevent the relationship between financial institutions and housing enterprises from deteriorating, so it is necessary to resolve risks. The extension period is 1 year, which objectively shows that it is still necessary to vigorously support the work of housing enterprises to ensure the delivery of buildings next year. All kinds of financial institutions should understand the setting of this time point, make full use of policies, actively support the work of real estate enterprises and ensure the delivery of buildings. "

Li, chief researcher of Guangdong Housing Policy Research Center, told the National Business Daily reporter on WeChat 1 13 on the afternoon of June 30 that the government needs to intervene in time in the case of market failure. "At present, the downside risk of land output price breaks out, and the expectation is pessimistic, forming a negative feedback cycle, which leads to the failure of the real estate market. All parties are avoiding risks, and "financial leverage" is reversed to "financial leverage reduction", which leads to a liquidity trap in the industry. Judging from the recent financial data, financial institutions have obviously contracted real estate. This means that although a large number of easing policies have been introduced recently to support enterprises' reasonable financing, merger and reorganization, building security and residential housing consumption financing, the policy effect is not obvious. "

From the data of 10 month, the tightening trend of real estate financing is obvious. On June 5,438+10, household loans decreased by1800 million yuan, which is another negative growth since February and April this year, with a year-on-year decrease of 482.7 billion yuan, reflecting the weakening of residents' financing needs. In June, 5438+ 10, the medium and long-term loans of enterprises (institutions) increased by 243.3 billion yuan, and in September, they increased by 654 billion yuan, and the medium and long-term loans of enterprise departments also narrowed slightly. Among them, financial institutions have obviously contracted real estate.

Support development policy banks to provide special loans for "guarantee buildings"

With regard to the risk management of housing enterprises in distress, which has attracted the most attention from the market in recent two years, the Notice encourages commercial banks to carry out M&A loan business for real estate projects in a steady and orderly manner, focusing on supporting high-quality real estate enterprises to acquire housing enterprises in distress, and supporting the development of policy banks to provide special loans for "Baojiao Building".

The circular also requires financial institutions to actively explore market-oriented support methods. For some projects that have entered judicial reorganization, financial institutions can help promote the resumption and delivery of projects in accordance with the principles of independent decision-making, self-risk and self-financing. Support qualified financial institutions to steadily explore and resolve the risks of trapped real estate enterprises in accordance with laws and regulations through the establishment of funds, and support the completion and delivery of projects.

Specifically, in terms of "Baojiaolou" financial services, the Notice requires commercial banks to provide supporting financing for special loan support projects within 6 months from the date of issuance of the Notice, and the risk classification will not be reduced during the loan period; After the new and old debts are written off, the borrowers are managed as qualified borrowers. If the newly issued matching financing is not good and the relevant institutions and personnel have fulfilled their responsibilities, they can be exempted.

Li believes that according to the requirements of the Notice, as long as enterprises with overall financial health and short-term difficulties enjoy the support of bond credit enhancement, and if they have difficulties in repayment, they can definitely extend the period. Enterprises with state-owned assets can do credit enhancement and bond purchase, which is equivalent to credit injection and directional cash flow injection, and the market's concerns about risks can be dispelled.

In addition, the circular also gives guidance on broadening diversified financing channels in the housing leasing market, encourages commercial banks to issue financial bonds to support housing leasing, raises loans for housing leasing development and construction and operating loans, and steadily promotes the pilot of real estate investment trust funds (REITs).

"Fundamentally speaking, I hope to steadily push forward the process of deleveraging, reduce the impact of risk disposal, stabilize market expectations, especially protect people's livelihood from shocks, and finally achieve stable real estate. Therefore, after the announcement, it is expected to correct the excessive credit tightening and slow down the liquidity trap. " Li believes.

In fact, before the exposure of the Sixteen Financial Measures, the market had already had signals concerning policies such as real estate financing.

165438+1At the beginning of October, Yi Gang, governor of the central bank, said at the "International Financial Leaders Investment Summit" of the Hong Kong Monetary Authority that the People's Bank of China actively supported the healthy development of the real estate industry, reduced the interest rate and down payment ratio of individual housing loans, and encouraged banks to support the construction and delivery of sold houses through the special loan of "Baojiao Building" to support the demand for rigid and improved housing. "With the continuous advancement of urbanization in China, we believe that the real estate market can maintain a stable and healthy development."

1October 8, 165438+ Bank of China (60 1988) Market Dealers Association (hereinafter referred to as Dealers Association) said that with the support and guidance of the People's Bank of China, in order to implement a package of policies and measures to stabilize the economy, we should adhere to the "two unwavering" principle and support the healthy development of private enterprises.

In June165438+1October 10, the dealers association accepted the shelf registration and issuance of 20 billion yuan of Longhu Group, and China Bond Promotion Company accepted the business intention of increasing credit of enterprises simultaneously; 165438+1October 1 1, Metro Holdings (60 1 155) indicated that it intends to apply to the Association of Dealers for a new registered quota of15 billion yuan debt financing instruments, but this

165438+1October 12, Poly Development announced that it had received four notices of acceptance of registration from the dealers' association and agreed to accept the registration of the company's medium-term notes and short-term financing bonds, with a total amount of 1000 billion yuan. The registered amount is valid for two years from the date of each acceptance of the registration notice.