01
Banks frequently issued tens of millions of yuan in fines during the year Bank's illegal "blood transfusion" property market is still the focus of supervision
Securities Daily news, in 2021 the financial industry supervision will maintain a high-pressure situation. According to the data on the official website of the China Banking and Insurance Regulatory Commission, as of October 12, the CBRC and its dispatched agencies have issued a total of 1,219 tickets to various types of banking institutions (the statistics of fines are subject to the time of publication), with a total amount of fines and forfeitures exceeding 1.5 billion yuan. It is worth noting that the illegal transfusion of real estate with credit funds is still a "high incidence area" for banks to be punished, of which personal consumption loans are used for house purchases, working capital loans are issued to real estate development enterprises in violation of laws and regulations, and interbank investment funds are still the focus of regulatory punishment. From the perspective of the amount of penalties, the CBRC has issued a single fine of more than 10 million yuan. Su Xiaorui, a senior analyst at Analysys, said in an interview with reporters that the "tens of millions of yuan level" fines issued by the Banking and Insurance Regulatory Commission are increasing, which not only shows that the illegal operations of "house-related" and "land-related" are the "stubborn diseases" of frequent violations of bank credit funds, but also reflects the determination and attitude of supervision to severely crack down on chaos and eliminate market order. (Securities Daily)
02
China Railway, Shandong, and Minsheng Trust have successively stepped on the thunder The sequelae of the "Baoneng System" default are explained
The sequelae of the tight capital flow of the "Baoneng System" are constantly emerging. On October 13, a reporter from Beijing Business Daily learned from a number of trust investors that the "Baoneng System" trust plan established by a number of trust companies, including China Railway Trust, Shandong Trust and Minsheng Trust, has defaulted. In the first time after the debtor defaulted, a number of trust companies have taken measures to freeze assets and seize collateral to solve the problem of redemption, but from the perspective of collateral and guarantee guarantee methods, there are many trust plans to transfer claims themselves are also affiliated companies of the "Baoneng system", and how long does the actual redemption cycle take, and a question mark is still needed. The reporter learned from Baoneng Group that at present, the total assets of Baoneng Group are about 830 billion yuan, excluding the liabilities of financial enterprises that are consolidated, and the overall interest-bearing liabilities of Baoneng are about 200 billion yuan. Baoneng Group said, "With the gradual solution of the current liquidity gap of about 20 billion yuan, it is believed that the company's production and operation can soon return to the right track." Since the beginning of this year, the risk of default in the trust industry has occurred frequently, and it is worth noting that the reporter learned from the above-mentioned trust investors that the way they purchase trust products are sold through Ping An Bank, and this is not the first case of a bank selling trust products this year. (Beijing Business Daily)
03
Investors control 83 securities accounts The stock price flashed a huge loss of 2.69 billion yuan
The Csrc (CSRC) recently issued an administrative penalty letter in which a retail investor controlled a total of 83 securities accounts including himself, his close relatives, co-actors, employees of Beijing Zijinding Investment Co., Ltd. controlled, and customer accounts entrusted to his investments, and manipulated Rendong Holdings through two leverages, resulting in a "flash crash" after a continuous rise in the stock price, with a turnover of 33 billion yuan. The investor not only lost a total of 2.69 billion yuan in stock manipulation, but was also fined 5 million yuan by the CSRC. After investigation by the CSRC, the investor manipulated "Rendong Holdings" in three ways: one was to continuously buy and sell with the advantage of concentrated funds and shareholding advantages, the second was to conduct securities transactions between the accounts under his actual control, and the third was not to make frequent or large declarations and withdraw declarations for the purpose of transactions. The SFC held that the parties had a subjective intention to manipulate the market. In the transcript of the inquiry, the parties claimed that they invested in Rendong Holdings, which raised the stock price, and then improved the company's fundamentals through acquisitions, so as to achieve "stock price first, performance follow-up", which fully proved that the parties had the subjective intention to increase the stock price, and also corroborated with the objective fact that the parties continued to enlarge the scale of transactions through margin financing and the stock price rose sharply. (Brokerage China)
04 Issued a risk warning Phoenix Optics for 5 consecutive days
A restructuring plan, so that Phoenix Optics "Nirvana" success, as of the close of October 13, Phoenix Optics has been for 5 consecutive days of a word limit. The company has issued a risk tip that the company's stock price has recently risen continuously, and the rolling price-earnings ratio has reached 226.01, which is much higher than the latest rolling price-earnings ratio of 32.12 for the industry classification instrumentation manufacturing industry of the Securities Regulatory Commission. The restructuring plan previously released by the company is divided into two parts. The first is the sale of major assets, followed by the issuance of shares to purchase assets. However, the latest risk warning announcement issued by Phoenix Optics shows that there are still many variables in this restructuring plan. First and foremost is the existence of insider trading in the restructuring. The company said that it has formulated confidentiality measures in accordance with relevant regulations, but in the process of this transaction, there is still a possibility that the transaction will be suspended, suspended or cancelled due to abnormal fluctuations in the stock price of the listed company or abnormal transactions that may be suspected of insider trading. In addition, the most noteworthy point is that the buying and selling price of the restructuring plan has not yet been finalized. The company said that in the restructuring plan, the audit and evaluation of the target assets have not yet been completed, and the core terms such as the transaction consideration have not yet been finalized. (Shanghai Securities News)
05
The U.S. House of Representatives passes short-term debt ceiling bill, but the risk of debt default remains
On October 12, local time in the United States, the US House of Representatives approved an increase in the short-term debt ceiling. The bill raises the U.S. government debt ceiling by $480 billion, temporarily avoiding default, and Biden is expected to sign the bill quickly, allowing it to meet the federal government's payment obligations until Dec. 3. It is reported that the US House of Representatives voted 219 to 206 to avoid the threat of an immediate financial disaster, but opened the door to another partisan confrontation over debt and spending less than two months later. The U.S. House of Representatives on Tuesday approved a bill to raise the government debt ceiling short-term, just days before the Treasury Department could exhaust its borrowing authority to refer the bill to President Joe Biden for signature. The U.S. bipartisan game will then be held on infrastructure plans and social transformation plans, and how the debt ceiling after December 3 will be resolved is unknown, and the risk of a U.S. government shutdown and debt default remains. Republicans insist democrats should take responsibility for raising the debt ceiling because they want to spend trillions of dollars to expand social programs and tackle climate change. Senate Republican leader McConnell wrote to Biden on Friday saying he would not work with Democrats on raising the debt ceiling again. (Zhitong Finance)
Editor-in-Chief: Hu Bin
Editor-in-charge of this issue: Yin Zhentao Li Zhi
The Financial Risk Weekly column is jointly produced by the Financial Law and Financial Supervision Research Base of the Chinese Academy of Social Sciences and the Banker Magazine, which mainly tracks and sorts out the latest financial risk developments this week.