Source: The Paper
On February 25, the Housing Provident Fund Management Center of Dongguan City, Guangdong Province, issued the Notice on the Implementation of the Liquidity Adjustment Coefficient of the New Range (hereinafter referred to as the Notice).
The "Notice" shows that in January 2022, the housing provident fund loan rate of Dongguan City was 84.50%, down to 75% < the loan rate < a new range of 85%, and the net flow of funds in the past three months was continuously positive, and the early warning of liquidity risk was lifted. According to the Measures for the Administration of Individual Housing Loans of Dongguan Housing Provident Fund and the Notice on Adjusting the Working Mechanism of Liquidity Adjustment Coefficient, the liquidity coefficient of housing provident fund loans will be adjusted to 1 from March 2022.
This is also the second change after the adjustment of the liquidity coefficient of Dongguan Housing Provident Fund loans from 0.6 to 0.8 on June 1, 2021.
The change in the liquidity coefficient of housing provident fund loans is closely linked to the amount of housing loans.
According to the formula previously released by the Dongguan Municipal Government, the loanable amount of the employee's personal provident fund loan Y = the balance of the personal provident fund account B× (deposit time coefficient T + income adjustment coefficient I) × the liquidity adjustment coefficient L.
For example, if the balance of an employee's provident fund account is 100,000 yuan, the payment time is 40 months (the corresponding time coefficient is 1), and the monthly contribution of the provident fund is 3,000 yuan (the corresponding income adjustment coefficient is 10), then, before the adjustment, its loanable amount = 100,000 yuan× (1 + 10) ×0.8 = 880,000 yuan, after adjustment, its loanable amount = 100,000 yuan× (1 + 10) × 1 = "110" million yuan.
However, according to the "Notice on Adjusting Part of the Housing Provident Fund Loan and Withdrawal Regulations" issued by the Dongguan Housing Provident Fund Management Center, the current policy implemented in Dongguan City is that the maximum loan amount for the first suite is 900,000 yuan, and the maximum loan amount for the second suite is 500,000 yuan.
This also means that after the increase in the liquidity coefficient of housing provident fund loans, although there is a ceiling, it is an increase in the amount of loans available for some deposited employees compared with before.
If the data such as the balance of deposits changes, the difference is even more obvious. For example, if the balance of an employee's provident fund account is 50,000 yuan, the payment time is 25 months (the corresponding time factor is 0.4), and the monthly contribution of the provident fund is 2,000 yuan (the corresponding income adjustment coefficient is 11), then, before the adjustment, its loanable amount = 50,000 yuan× (0.4 + 11) ×0.8 = 456,000 yuan, after adjustment, its loanable amount = 50,000 yuan× (0.4 + 11) × 1 = "57" million yuan.
In other words, the maximum amount of the employee's provident fund loan increased by 25%.
