The issuance of the issuance of bonds in commercial banks over eight months before the year -on -year issuance was reduced by more than 100 billion yuan year -on -year

6SEP

Our reporter Lu Dong, since this year, the scale of commercial banks' perpetual debt has shrunk from the same period last year. In the first eight months of this year, only 20 banks issued 210.6 billion yuan to renew the debt, which was significantly decreased compared with the 330.8 billion yuan of issuance in the same period last year. The decline in the issuance quota has a direct relationship with the rapid decrease in the issuance of perpetual debt banks. Although from the perspective of the type of perpetual debt, this year's state -owned banks, joint -stock banks, urban commercial banks, and rural commercial banks have successfully issued debt issuance to debt issuance. Cases, but the number of debt banks has shrunk sharply. In the first eight months of this year, only 20 banks successfully issued permanent debt, and the number of this period last year was as high as 31. Compared with the same period last year, the number of state -owned banks issued by sustainable bonds this year has not changed significantly in terms of quantity, mainly due to the significant reduction in the number of bond issuance of small and medium -sized banks. The main force of the debt. In this regard, Du Yang, a researcher at the Central Bank Research Institute, said in an interview with the Securities Daily reporter that from the perspective of the supply side, the current permanent debt issuance still faces issues such as high cost and poor liquidity. Diversified channels are supplemented with exogenous capital. In stark contrast to the decline in the amount of perpetual debt issuance, the secondary capital bonds are rapidly becoming another way for commercial banks to supplement capital. In the first half of this year, the total issuance scale of this type of bonds exceeded 370 billion yuan, an increase of about 2.4 year -on -year increase of about 2.4 Note. From the perspective of demand, multi -party factors affect investors' recognition of sustainable debt. At present, the main body of permanent debt issuance is showing a sinking trend, but compared with large banks and shares, the risk level of small and medium -sized banks is relatively high, which has also led to the decrease in the recognition of perpetual debt in the market. Although the capital adequacy ratio level of different banks has its own level, since this year, the banking financial institutions have continued to increase credit to help the real economy, and banks still face the pressure brought by the decline in capital adequacy ratio. The half -annual report in 2022 shows that 42 A -share listed bank loan balances (corporate loans and cushions) all increased to varying degrees from the beginning of the year. Among them, the loan balance of ICBC, Agricultural Bank of China, and CCB increased by more than 100 billion yuan from the beginning of the year. The capital adequacy ratio of 34 listed banks has decreased compared with the beginning of the year, accounting for 80 % of the proportion of all listed banks. According to the latest 2022 commercial bank's main regulatory indicators disclosed by the China Banking Regulatory Commission, as of the end of the second quarter, the capital adequacy ratio of commercial banks, the first -level capital adequacy ratio, and the core first -level capital adequacy ratio were 14.87%, 12.08%, and 10.52%, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively, respectively. 0.15, 0.17 and 0.18 percentage points from the end of the first quarter. Although the overall stable growth of banks in the first half of this year will support endogenous capital supplements, the demand for exogenous capital supplements through the issuance of tools such as perpetual debt, including perpetual debt, will still be great. On August 30, the central bank released news that in order to improve the market liquidity of banks' permanent debt, support banks to issue perpetual debt supplementary capital and enhance the ability of financial services to the real economy, the People's Bank of China launched on August 30, 2022 The operation volume of the central bank's bill for swap (CBS) is 5 billion yuan. "Due to the strong demand for capital, the issuance rhythm of commercial banks will return to the right track in the future." Du Yang believes that on the one hand, the central bank has continued to increase its liquidity support for sustainable debt and increase credit endors to it. The central bank's regularly carrying out bill swap operations is of great significance for improving the market recognition of commercial banks' permanent debt. On the other hand, in order to help the real economy out of the impact of the epidemic, commercial banks have enhanced financial support through "replenishing price" by insisting on reducing fees and benefits. Form negative pressure. Therefore, although the current permanent debt is issued in a downturn, in the long run, it is still one of the important tools for commercial banks to replenish capital.

Recommended reading

Chen Qiyu, co -CEO of Fosun International: Sometimes it is not a bad thing.

In 2022, the service trade will be closed: there are more than 2,400 exhibitors of offline exhibitors, and more than 250,000 people have been admitted to

Picture ｜ Bag Picture Network Station Cool Hero Production | Zhang Xin

- END -