1. Banks
1. The minimum down payment ratio for the first personal housing loan is adjusted to not less than 15%
On May 17, the People's Bank of China and the State Administration of Financial Supervision and Administration issued the Notice on Adjusting the Minimum Down Payment Ratio of Personal Housing Loans, stating that for resident families who take out loans to purchase commercial housing, the minimum down payment ratio of commercial personal housing loans for the first house is adjusted to not less than 15%, and the minimum down payment ratio for commercial personal housing loans for second houses is adjusted to no less than 25%. 【Wande Information】
2. Ping An Bank responded to being fined 67.24 million yuan
On May 17, the State Administration of Financial Supervision and Administration issued a fine to Ping An Bank, confiscated illegal gains and imposed a total fine of 67.2398 million yuan. Among them, the head office is 60.7398 million yuan, and the branch is 6.5 million yuan. The main reasons involve five aspects: First, corporate governance and internal control. The second is credit business. The third is the interbank business. Fourth, wealth management business. Fifth, other aspects. In response to the fine, Ping An Bank responded that the bank was inspected by the former China Banking and Insurance Regulatory Commission in 2019 and recently received an administrative penalty decision from the State Administration of Financial Regulation. The bank attaches great importance to it and accepts the punishment sincerely. Ping An Bank said: "Over the past five years, our bank has conscientiously implemented the requirements of supervision and inspection, and the rectification work has been completed. [Bond Society]
3. Li Jianjiang was officially appointed as Vice President of China Construction Bank
On the evening of May 16, China Construction Bank announced that on April 15, the bank's board of directors deliberated and approved the proposal on appointing Li Jianjiang as vice president. At the same time, the State Administration of Financial Supervision and Administration has now approved his qualifications, and Li Jianjiang has officially taken up his post. According to the resume, Li Jianjiang, born in February 1973, graduated from China Institute of Finance in July 1996 with a bachelor's degree in finance, is a senior economist, and has worked in the China Development Bank system for many years. 【China Fund News】
4. Zhang Yi, Deputy Governor of Bank of China, resigned due to work adjustment
On May 16, Bank of China announced that the board of directors of the Bank received Zhang Yi's resignation. Due to work adjustments, Zhang Yi resigned as an executive director, a member of the Strategic Development Committee of the Board of Directors, a member of the Related Party Transaction Control Committee and a vice president of the Bank. 【Financial Frontline】
5. Xu Dengyi served as the president of the Bank of Chengdu
On the evening of May 13, Bank of Chengdu (601838.SH) announced that the board of directors agreed to appoint Xu Dengyi as the president of the company, and formally appointed after his qualifications were approved by the banking regulatory authority of the State Council. Before the banking regulatory authority of the State Council approves the qualifications, Xu Dengyi will perform the duties of the president on his behalf. 【WEMONEY LABORATORY】
6. 60.41 million shares of Guangfa Bank were listed for transfer
Recently, the Beijing Equity Exchange disclosed that 60,411,315 shares of Guangfa Bank (accounting for 0.2772% of the total share capital) were publicly listed for transfer, with a reserve price of 564.21 million yuan. According to the disclosure, the entrusting party of the equity transfer is China Minmetals Corporation. 【Financial Frontline】
7. Liu Jun, President of Bank of Communications, resigned
On May 14, the Bank of Communications issued an announcement. Due to work adjustments, Liu Jun has submitted a written report to the board of directors of the company, resigning from the positions of vice chairman, executive director, president, member of the strategy committee (inclusive financial development committee) of the board of directors, and chairman of the social responsibility (ESG) and consumer rights protection committee of the board of directors, effective May 14, 2024. On April 30, 2024, ICBC issued an announcement, which showed that the main responsible comrades of the relevant cadre bureaus of the Organization Department of the CPC Central Committee attended the ICBC cadre meeting and announced the decision of the Central Committee: Comrade Liu Jun was appointed deputy secretary of the Party Committee of ICBC. 【Financial Tiger Network】
2. Consumer Finance
1. The Internet Finance Post-Loan Collection Guidelines are here
On May 15, the Internet Finance Association of China issued the Guidelines for Post-Loan Collection of Internet Finance (hereinafter referred to as the "Post-Loan Collection Guidelines"). The Guidelines for Post-Loan Collection require that financial institutions and third-party collection agencies should specify the management department responsible for the collection business and designate a senior manager to be responsible for the management of the relevant work. Qualified financial institutions may set up a department specifically responsible for collection business. Collectors should conduct collection business and network security awareness training and assessment at least once a year. The Guidelines for Post-Loan Collection emphasize that the frequency of informative collection in the form of voice (including intelligent voice) should be strictly controlled within a reasonable and necessary range, and the total frequency of telephone calls made by the same financial institution and its cooperative third-party collection agency to a single debtor should not exceed 3 times per day, unless otherwise agreed with the debtor. Where collection operations are carried out by sending text messages, voices, 5G messages, etc., they shall comply with the relevant regulations of the telecommunications industry. If both parties have agreed on the collection time in advance, the collection operation shall be subject to their agreement. If the two parties have not agreed on the collection time, the collection shall not be made from 22 o'clock to 8 o'clock the next day. 【WEMONEY LABORATORY】
2. Zhongyuan Consumer Finance intends to issue financial bonds with a scale of no more than 2 billion
ON MAY 17, WEMONEY RESEARCH OFFICE LEARNED THAT ZHONGYUAN CONSUMER FINANCE PLANS TO ISSUE FINANCIAL BONDS WITH A SCALE OF NO MORE THAN 2 BILLION YUAN, BECOMING THE SEVENTH CONSUMER FINANCE COMPANY IN CHINA TO ISSUE FINANCIAL BONDS. The basic issuance scale of this financial bond is 1.5 billion yuan, with a term of 3 years, the issuance period is May 22~24, and the interest-bearing period is from May 24, 2024 to May 23, 2027. The issuance comes with an excess issuance right, and if the actual subscription multiple is not less than 1.4, the maximum issuance of bonds will be increased by 500 million yuan. The proceeds from this bond are mainly used to supplement the company's medium and long-term liquidity and other purposes permitted by the regulatory authorities. 【WEMONEY LABORATORY】
3. Consumer finance sells non-performing assets
Recently, the news that Home Credit Consumer Finance is about to transfer an asset package with a principal size of up to 26 billion yuan and a quotation of about 2 billion yuan has spread far and wide, causing widespread concern in the non-performing personal loan market. It is understood that the asset package will not be listed in Yindeng Center. At present, there are two local AMCs that intend to take over, one of which is Zheshang Assets, a regular customer of Home Credit Consumer Finance. In addition to Home Credit, BOC Consumer Finance is also the "vanguard" of personal non-performing loan transfers. In 2023, BOC Consumer Finance issued a total of 4 transfer announcements, with a total outstanding principal and interest of 641 million yuan. As of May 15, 2024, BOC Consumer Finance has issued an announcement on the batch transfer of 23 phases of personal non-performing loans this year, with a total outstanding principal and interest of more than 4.095 billion yuan, far exceeding the total amount of transfers last year. 【Zero One Finance】
4. Consumer finance companies reported good news last year
Up to now, the 2023 results of the 30 consumer financial institutions that have opened have been released, and except for one company that has just opened, the remaining 29 have achieved profitability, with a maximum increase of nearly 760%. On the whole, consumer finance companies maintained a relatively high growth rate last year, but in 2023, the Matthew effect of consumer finance companies will be obvious, with five leading companies accounting for more than 60% of the industry's assets and net profit. The total assets of 30 consumer finance companies reached 1.2 trillion yuan, and the net profit was 14.232 billion yuan. The ranking of the top five licensed consumer finance companies in the industry remained basically stable. 【21 Economic Net】
3. Fintech
1. Douyin prohibits loan intermediaries from placing advertisements
On May 8, the Douyin Massive Advertising Rules Center issued a rule change to the "Prohibition of Access to the Loan Intermediary Industry", which clearly suspended the information flow business of the loan intermediary industry. According to the access rules, recently, Douyin has found in its governance that there are various risks of violations of laws and regulations in the loan intermediary industry, such as reselling customer assets, non-standard store operations, and providing false services. In order to maintain the ecological health of the platform and protect the rights and interests of users, the platform temporarily restricts the launch of the industry. After the adjustment, Douyin will prohibit customers from promoting intermediary services involving loan consultation, agency and other intermediary services that guide traffic to offline stores, and the implementation time will be May 15. The consumer finance industry has learned that there are two groups most affected by this rule: one is offline loan intermediaries/loan assistants, who are limited in traditional SMS customer acquisition and telemarketing, and Douyin has become their largest source of customer acquisition; The other type of lender that has the greatest impact is the lending institutions that guide the flow of offline intermediaries. At present, the top platforms are mostly involved. 【WEMONEY LABORATORY】
2. Cargo Lala enters the loan assistance and will also launch the personal business loan business
It is reported that Lala has launched a loan business and entered the field of consumer finance. In addition to consumer finance, Lala, which holds several financial licenses, will also open up business loan business. According to the product information, the product is called "Yuanyi Loan", with a maximum amount of 200,000 yuan and an annualized interest rate of 10.8%, and it cooperates with licensed financial institutions to lend. It is understood that the loan business has been online for a period of time, and at present, it only cooperates with a small number of head licensed institutions, and the layout is relatively cautious. 【Laser Finance】
3. Yongxiong Group has undergone a complete transformation
Less than a month after the release of the open letter announcing the abandonment of the specific collection business, Hunan Yongxiong Group has completed the corresponding industrial and commercial changes. Specifically, Yongxiong Group changed the company name to "Hunan Yongxiong Yubang Intelligent Technology Co., Ltd."; The business scope has also been changed to "software development" and other businesses, and it no longer includes services such as "letter notification and telephone call entrusted by banks to overdue credit accounts and credit card overdraft accounts". 【Hejin Finance】
4. Himalaya's loan business is concerned by the China Securities Regulatory Commission
After Ximalaya offline its self-operated loan product "Listen to Xiaobei Borrow Money", the China Securities Regulatory Commission (CSRC) required it to issue supplementary materials on loan assistance business and other matters. On May 10, the China Securities Regulatory Commission (CSRC) disclosed the "Requirements for Supplementary Materials for the Filing of Overseas Issuance and Listing (April 26, 2024 - May 9, 2024)", which requires Himalaya to provide supplementary explanations on seven major matters such as the compliance of the equity structure, shareholder information, and operational compliance, including providing loan assistance business for individual customers. As of now, Himalaya still does not have a relevant financial license. In March this year, Himalaya launched its self-operated loan product "Listen to Xiaobei to borrow money", but the product has recently been offline, and it has only been online for two months. 【WEMONEY LABORATORY】
![Walk into the GIG International Financial Capital Center and create a smart space that can be experienced[fig]](data:image/gif;base64,R0lGODlhAQABAIAAAP///wAAACwAAAAAAQABAAACAkQBADs=)