Non-standard assets are called non-standard creditor's rights assets, which are relative to the standard assets. The concept of non-target was first put forward in No.8 Notice of China Banking Regulatory Commission on Relevant Issues Concerning Investment and Operation of Commercial Banks (20 13), and there was no clear definition at that time.

Until 2020, the Rules for the Identification of Standardized Creditor's Rights and Assets clearly divided creditor's rights into three categories: standardized creditor's rights, non-standardized creditor's rights and non-standard assets, and made clear the list of various assets. Assets outside the list need to be certified according to the definition of "new asset management regulations".

* What is a standardized asset?

What are they?

Standardized debt assets refer to fixed-income securities such as bonds and asset-backed securities issued according to law.

It mainly includes government bonds, central bank bills, local government bonds, government-supported institutional bonds, financial bonds, non-financial corporate debt financing instruments, corporate bonds, corporate bonds, international institutional bonds, interbank deposit certificates, credit asset-backed securities, asset-backed bills, asset-backed securities listed on stock exchanges, and fixed-income public securities investment funds.

In addition, if other creditor's rights assets want to be recognized as "targets", they must meet five conditions at the same time:

1. Equal differentiation, tradable; 2. Full information disclosure; 3. Centralized registration and independent custody; 4. Fair pricing and perfect liquidity mechanism; 5. Trading in the inter-bank market, the stock exchange market and other trading markets agreed by the State Council.

* What are non-standard assets?

What are they?

Non-standardized creditor assets

1) Some categories are directly listed: direct financing tools for wealth management of wealth management registration and custody center, products related to credit asset circulation and income right transfer of Yindeng Center Co., Ltd., debt financing plan of North Stock Exchange, income voucher of inter-agency quotation system of China Securities, debt investment plan of Shanghai Stock Exchange and asset support plan.

2) Other financial products that do not meet the conditions listed in the five standards (that is, the conditions of standard assets on the previous page) and provide debt financing for a single enterprise.

In addition to standard assets and non-standard assets, there is also a category called the exception category of non-standard assets, as shown on the next page.

☆ Non-standard assets other than categories:

Excluding non-standard assets: deposits (including certificates of deposit), assets formed by reverse repurchase of bonds and interbank lending. The central bank believes that: "The above assets do not meet the criteria for the identification of standard creditor's rights assets, nor do they meet the characteristics of the original non-standard assets, so it is not appropriate to simply classify them as standard creditor's rights assets or non-standard assets.

In view of the fact that the financial regulatory authorities have made systematic and strict regulations on such assets, and such assets are not the main objectives of the Guiding Opinions, they are included in the category of non-standard assets, and the current regulatory requirements remain unchanged, so they are not handled in accordance with the relevant regulatory requirements of the Guiding Opinions.