Faced with the increasing demand for early repayment of property buyers, some banks have cancelled the function of early repayment of mobile banking, which requires a long appointment time and requires offline outlets to apply for mortgage … … The phenomenon that mortgage repayment is difficult in advance has attracted the attention of the regulatory authorities.
On February 24th, the reporter of China Business News learned that China Banking and Insurance Regulatory Commission recently held a special meeting, asking banks to speed up the processing of the backlog of applications and do a good job in early repayment. At the same time, special risk warnings are issued to remind consumers to be alert to illegal intermediary induction, recognize the risks of illegally using business loans to replace mortgages, and protect their legitimate rights and interests.
The person in charge of relevant departments in China Banking and Insurance Regulatory Commission stressed that it will continue to strengthen the supervision over the illegal use of business loans and the illegal inflow of consumer loans into the real estate sector.
In addition to the mortgage problem, the heads of the above departments also responded to issues closely related to financial consumers such as pension and financial management.
On the difficulty of repaying loans in advance: speeding up the processing of backlog applications
"From the market reflection and our understanding, the number of early repayment settlements has increased significantly, the processing time limit has been shortened, and the problem of early repayment difficulties has gradually eased." The person in charge of the relevant departments in China Banking and Insurance Regulatory Commission said that at present, commercial banks are optimizing related financial services and doing a good job in prepayment. Some banks have formulated special customer prepayment service schemes and processes to co-ordinate online and offline service channels to ensure the predictability of repayment time. Some banks carry out multi-channel service docking and set up special seats for mortgage prepayment hotline to facilitate customer consultation and business handling. Some banks deploy prepayment reservation function in online channels such as mobile banking to improve service efficiency.
China Banking and Insurance Regulatory Commission attaches great importance to the protection of consumers’ rights and interests. As early as February 9, it held a forum with the People’s Bank of China for some commercial banks, demanding that commercial banks strengthen the customer-centered concept, do a good job in customer prepayment service in accordance with the contract, and improve the service quality.
China Banking and Insurance Regulatory Commission said that in the next step, together with relevant departments, we will continue to guide commercial banks to provide real estate financial services in accordance with the contract, smooth online processing channels, speed up the efficiency of approval processing, and ensure that customers run less and process quickly. At the same time, we will continue to strengthen supervision over the illegal use of business loans and the illegal inflow of consumer loans into the real estate sector. If consumers need to repay loans in advance or other financial services, please consult formal financial institutions such as banks to understand the relevant situation, so as to avoid being misled by illegal intermediaries and protect their legitimate rights and interests.
About personal pension: over 24 million accounts have been opened.
The development pattern of multi-subject participation, multi-product supply and meeting diversified pension needs has taken shape.
The First Financial Reporter learned from China Banking and Insurance Regulatory Commission that in terms of commercial pension financial reform, as of January 2023, the balance of specific pension savings business was 26.32 billion yuan; There are 51 old-age wealth management products with the characteristics of "stability, long-term and inclusiveness", and the cumulative purchase amount of 470,000 investors is 100.4 billion yuan; The total premium of exclusive commercial endowment insurance is 4.27 billion yuan, and the number of policies is 374,000. Among them, the number of policies for new industries, new formats and flexible employees exceeds 60,000, and the premium exceeds 170 million yuan. The commercial pension pilot was launched on January 1 this year. At present, National Pension Insurance Company and China Life Pension Insurance Company have started their business for consumers, and the other two pilot companies are also actively preparing products.
According to the data of China Banking and Insurance Regulatory Commission, in 2022, the old-age annuity insurance realized the original insurance premium income of 64.2 billion yuan, the number of policies was 22.52 million, and the accumulated liability reserve at the end of the period was 665.9 billion yuan; Together with other commercial insurance with the function of old-age security, the accumulated liability reserve of commercial old-age insurance has exceeded 5 trillion yuan at the end of the period.
In the development of personal pension system, at present, commercial banks have opened more than 24 million personal pension fund accounts; Bank insurance institutions are introducing a variety of financial products such as savings deposits, wealth management products and commercial endowment insurance for participants to invest and buy in an orderly manner.
In terms of the reform of pension financial institutions, China Banking and Insurance Regulatory Commission issued the Notice on Standardizing and Promoting the Development of Pension Insurance Institutions in 2021, which clearly required pension insurance institutions to stick to their positioning and deepen product and service innovation, and became an important force to promote the high-quality development of the pension financial market.
The person in charge of the relevant departments in China Banking and Insurance Regulatory Commission said that various institutions are actively transforming according to the notification requirements, gradually adjusting their business structure, and further focusing on the development of the main business of providing for the aged.
About the new regulations on asset management: the net value rate of products increased by 80.4 percentage points.
The person in charge of relevant departments in China Banking and Insurance Regulatory Commission said that the rectification and transformation in the past five years have laid an important foundation for the wealth management industry to enter a new stage of development. At the same time, the new stage has put forward new requirements for the development of wealth management industry, and there are still some problems and deficiencies at present. For example, the wealth management product system is not rich enough, and the diversified wealth management needs of serving the people need to be improved; The management and disclosure of net product value are not standardized, and the construction of investment and research system of wealth management companies still needs to be strengthened; Investor services and education need to be strengthened.
After the release of the new asset management regulations in 2018, China Banking and Insurance Regulatory Commission solidly promoted the rectification and transformation of wealth management business, made great efforts to rectify all kinds of asset management chaos, combined punches to severely punish violations, and took various measures to guide banks to strictly formulate and implement the rectification plan for stock business, and accelerated case handling in a safe and orderly manner.
After nearly five years of comprehensive management, the risk of shadow banking has significantly converged, the chaos of industry risks has been fundamentally reversed, and the task of rectification during the transition period of new asset management regulations has been generally completed.
The first financial reporter learned that up to now, the capital preservation and financial management have been cleared, and the basic pressure drop of expected income products has been completed. Chaos in industries such as idling nesting has been significantly reduced, and multi-layer nesting has been basically eliminated. Inter-bank wealth management was significantly reduced by 99.9% compared with the peak value. The maturity mismatch was fundamentally reversed, and the pooling operation was corrected. Non-standard investment dropped sharply, and the non-standard creditor’s rights assets of wealth management investment issued by banks decreased by 89.2% compared with the new asset management regulations. The expansion of high leverage was restrained, and the average leverage ratio of products decreased by 7.2 percentage points compared with the peak value.
According to the person in charge of the relevant departments in China Banking and Insurance Regulatory Commission, the bank strictly formulated the rectification plan for submitting the wealth management stock business, locked in the base of assets to be disposed of, and took various measures to promote the implementation of rectification. Most of the stock assets have been successfully disposed of, and the task of rectification in the transition period has been completed as a whole. For a small amount of difficult-to-dispose assets left by individual banks, they were included in the case disposal according to regulations, and the clean-up was accelerated. The overall progress was better than expected, and the case disposal entered the final stage.
The successful completion of the five-year rectification and transformation of wealth management business marks the "clean start" of wealth management companies and the industry has entered a new stage of high-quality development. At present, the net value rate of products exceeds 95%, which is 80.4 percentage points higher than when the new asset management regulations were issued.
By the end of 2022, the scale of wealth management products in the whole market was 27.7 trillion yuan, and the annual income for investors was 880 billion yuan. Since the release of the new asset management regulations, the accumulated income has been 4.4 trillion yuan, which has effectively broadened the property income channels of urban and rural residents and promoted the realization of common prosperity.
