Three documents have been issued in two years to standardize such loan business, and the financial regulatory authorities have deep meaning behind the big moves.

Two years after the "Interim Measures for the Management of Internet Loans in Commercial Bank" (hereinafter referred to as the "Measures"), on July 15th, the China Banking Regulatory Commission issued the "Notice on Strengthening the Management of Internet Loans Business Management of Commercial Banks" (hereinafter referred to as the quality and efficiency of financial services "(hereinafter referred to as "Notice"). This is the third standardized document issued by the financial regulatory authorities to the Internet loan business within two years. In general, the "Notice" attitude is relatively positive, extended the transition period for one year, and better balanced the relationship between supervision and promotion of innovation. It will promote the steady and high -quality development of the Internet loan business.

In recent years, my country, including commercial banks, consumer finance companies, and other financial institutions, and Internet platforms to vigorously use financial technology to accelerate the innovation of products and services in the credit field, and Internet loans have emerged. Internet loans naturally have inclusive financial characteristics. Commercial banks and consumer finance companies are actively explored under the premise of preventing risks, which help financial institutions to better serve the real economy, especially small and micro enterprises and individual industrial and commercial households through Internet loans, and and individual industrial and commercial households. Accelerate your digital transformation and model innovation. As of the end of 2021, the balance of Internet loans of banking financial institutions was 5.75 trillion yuan, an increase of 21.8%year -on -year, and the growth rate was about twice the growth rate of all loans.

Internet loans have not changed the essence of credit. Based on the Internet and mobile communication technologies, the original credit business carried out offline has been migrated to online. The business model and risk management show some new characteristics and trends. A small number of employees also have some extensive operations and barbaric expansion behaviors, especially in the aspects of customer information security, cooperation agency management, and consumer rights protection. In July 2020, the China Banking Regulatory Commission issued the "Measures" to regulate Internet loans based on the current long -term. As the "Basic Law" of the Internet loan of commercial banks, the "Measures" adapt to the trend of fintech, fully affirm the financial characteristics of Internet loans, absorb and reflect the latest practical results, abandon the idea of ​​"one knife and cut", and be more open and inclusive. However, after the "Measures" was issued just half a year, the Internet loan business supervision came up with a big turn. In February 2021, the CBRC issued the "Notice on Further Regulating the Internet Loan Business of Commercial Bank", which refined and corrected the Measures. Quantitative indicators, and strictly control the cross -regional operation of the local legal person bank, greatly tighten the requirements of Internet loan business policy, exceeding expectations.

The "Notice" issued this time has affirmed the positive role of Internet loans in terms of serving small and medium -sized enterprises and consumption of residents, but also pointed out the inadequate issues of the main responsibility of the loan and excessive dependence on external cooperation, focusing on refinement and refinement Clarify loan management and independent risk control requirements, require regulatory external cooperation, and extend the transition period to June 2023. Generally speaking, a positive signal is issued to the market. High -quality business development. Specifically, the "Notice" adheres to the problem -oriented, and reiterates and emphasizes the requirements of the four aspects for the shortcomings and problems existing in Internet loan management and existing in external cooperation.

The first is to strengthen the responsibility of the subject. In recent years, some small and medium -sized banks have mainly expanded the Internet loan business through external institutions. They are in a disadvantaged position in cooperation and form a form of loan management. In response to the "hollow" problem of Internet loan management, the "Notice" requires banks to fulfill the main responsibility of Internet loan management. Loans are the core business of banks. Banks should not be a "shaking shopkeeper" in the development of Internet loans, especially in the joint loan business. They should effectively strengthen the actual management of loans, independent risk control, and must not outsourcing the core links. At the same time, further standardize external cooperation, establish access standards and lists, and cooperate with institutions with poor qualifications and weak strength.

The second is to strengthen business management. The "Notice" mainly emphasizes the two links of strengthening information and data management and loan fund management. Big data and credit information are the foundation of the survival of Internet loans. The "Measures for the Management of Credit Credit Business" clearly stipulates the collection, finishing, preservation, processing, provision, and use of credit information. Banks shall obtain the necessary data in accordance with the requirements of the "Administration of Credit Credit Business", and strengthen personal information security protection in accordance with laws and regulations. It is necessary to strengthen loan fund management, and instructions such as loan issuance should indeed be issued by the bank. However, it should be allowed to pay the loan to the payment account, which is consistent with the maintenance of the trustee.

The third is to protect consumer rights. In the Internet loan business, the asymmetry of financial institutions and consumer information is more prominent, and it is especially important to strengthen consumer rights protection. Banks should comprehensively and truly disclose the basic information of Internet loans, especially the level of interest fees, such as publishing the actual interest rates of the loan by annual interest rates, and do not force binding insurance, wealth management and other products to promote the steady decline in the comprehensive financing cost of customers. Improper collection is a matter of concentration of complaints in recent years. Banks should further standardize the collection behavior, use technical means to improve the accuracy of collection, and prevent violence collection. Consumers should borrow reasonable loans, rational rights protection, and do not participate in the "anti -collection" alliance.

The fourth is to extend the transition period. The "Measures" set a two -year transition period in accordance with the principle of "new and old breaking", as of June 2022. The "Notice" will extend the transition period to June 2023, which is one of the highlights of the "Notice". The "Notice on Further Regulating the Internet Loan Business of Commercial Bank" has tightened the policy significantly, and the "Notice" put forward new requirements for independent risk control, and business compliance pressure is high. The longer transition time helps market institutions to rectify in an orderly manner, stable transition, ensure the continuity of the Internet loan business and customer rights, and ensure that the service of the real economy is not reduced. At the same time, it is consistent with the transition period of the "Measures for the Management of Credit Credit". The "Notice" also emphasizes that in the cooperation with third -party institutions to cooperate with third -party institutions, banks signed cooperation agreements on joint capital contribution and technical cooperation, and clarify the power and responsibilities of all parties. It is agreed that institutions that set unfair sets and unreasonable conditions and do not provide the necessary information of loans are restricted to cooperation or do not give cooperation. This helps to balance the rights and responsibilities of the Internet loan related to all parties, and change the weak position of small and medium banks in the Internet loan ecosystem. For the Internet platform, with the advantages of the platform entry and traffic, it will be difficult to exist on the left hand to obtain various types of credit information and the right hand for retrofitting and selling. It will be broken.

Overall, the "Notice" is good for bank loans, high -risk control, consumer finance companies, and more standardized Internet platforms. At the same time, joint loans and loan assistance products cooperated with external institutions should be restructured by process.

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