Leverage ratio of financial leasing regulatory measures for public consultation reduced to 8 times

category:Finance
 Leverage ratio of financial leasing regulatory measures for public consultation reduced to 8 times


From 10x to 8x

In recent years, financial leasing is a new way of financing. In the United States, financial leasing is the second largest indirect financing channel besides banks. It is precisely because of the characteristics of the combination of financing and financial leasing that leasing companies can recover and deal with the leased goods when there is a problem. When dealing with financing, the requirements for corporate credit and guarantee are not as high as that of banks, so it is very suitable for the financing of small and medium-sized enterprises.

However, in recent years, with the rapid development of the financial leasing industry, there are more prominent problems in industries such as deviated from the main business, disordered development, empty shell and lost connection. It is urgent to establish and improve prudent and unified system norms, and consolidate the institutional basis for strengthening supervision, compliance development and standardized management.

The fifth national financial working conference determined that the financial leasing company shall be regulated by the CBRC and implemented by the provincial peoples government. The formulation of the measures is to comprehensively consider the operation and supervision standards of financial leasing business at the system level, so as to achieve the relative unity of similar businesses in terms of business scope, transaction rules, supervision indicators, information submission, supervision and management.

The relevant person in charge of the CIRC said that the regulatory requirements of the measures in terms of the scope and concentration management of leased goods were basically consistent with those of the measures for the management of financial leasing companies. These settings are the necessary conditions for the steady operation and standardized development of the financial leasing industry. They not only reflect the goal orientation and requirements of strict supervision, but also help to regulate the operation behavior of financial leasing companies. At the same time, it is also considered that as a general industrial and commercial enterprise, financial leasing companies are quite different from financial leasing companies in terms of financial attributes, shareholder background, establishment purpose, etc. For this reason, there are also moderate differences in business rules.

For example, in terms of leverage ratio, in combination with the development of financial leasing industry and regulatory reality, adjust the original stipulated risk assets not to exceed 10 times of net assets to 8 times, and do not adopt the financial leasing companys ratio of net capital to risk weighted assets shall not be lower than the minimum regulatory requirements of CBRC.

Concentration supervision or central enterprises

Financial leasing companies have great influence

In addition to the regulatory requirements formulated by referring to the regulatory measures for financial leasing companies, the regulatory constraints on financial leasing companies were strengthened, and some prudential regulatory indicators were added to the measures. For example, the proportion of financial leasing and other leasing assets of a financial leasing company shall not be less than 60% of the total assets; the fixed income securities investment business carried out by a financial leasing company shall not exceed 20% of the net assets; the balance of all financial leasing businesses for a single lessee shall not exceed 30% of the net assets; the balance of all financial leasing businesses for a single group shall not exceed 50% of the net assets; and the balance of all financial leasing businesses for a single group shall not exceed 50% of the net assets The balance of all financial leasing businesses of related parties shall not exceed 30% of net assets; the balance of all financial leasing businesses of all related parties shall not exceed 50% of net assets, etc.

Among them, for the above-mentioned regulatory indicators related to concentration management, some insiders have called for the group where the consolidated statements of financial leasing companies are located to formulate separately. In recent years, some financial leasing companies with the background of central enterprises have played a certain role in promoting the combination of industry and finance of the group. Such financial leasing companies usually account for a small proportion in the group, but have a high degree of business concentration to the group, and the upper limit set in the measures is more restrictive.

At the same time, the concentration supervision index has a great impact on the aviation leasing industry. Xu Feng, general manager of China Southern International Financial Leasing Co., Ltd., once said that the concentration of high-quality enterprises in the aviation industry is very high, and the amount of aircraft projects is large, so the financial concentration of financial leasing companies to such lessees is usually very high. He called for regulatory documents to regulate the business investment direction, subject matter scope and risk prevention of financial leasing companies.

Clean up shell lost company

Set a two-year transition period

Although the financial leasing industry has played an important role in solving the financing problems of small and medium-sized enterprises, in recent years, the disordered development, the empty shell and loss of connection and other industry problems are more prominent. According to the national financial leasing enterprise management information system, the overall opening rate of the industry is not high. Of the 10900 financial leasing companies, only 2985 are in business status, and about 72% of them are in shell and closed status.

In order to solve the problems of many empty shell and lost connection enterprises in the current industry, and guide the local financial regulatory authorities to do a good job in clearing and standardizing financial leasing companies, the measures set a transition period of no more than 2 years (no later than December 31, 2021), during which, in principle, the registration of financial leasing companies is suspended, and the existing financial leasing companies are required to be between 1 year and 2 years Meet the relevant regulatory requirements specified in the measures. There are three types of situations:

First, enterprises that are empty shell or illegal and willing to accept supervision are required to make rectification within a time limit according to the regulatory requirements, and they will be included in the supervision as normal enterprises after meeting the standards.

Third, after the issuance of the measures, financial leasing companies whose regulatory indicators in the normal business category are not up to standard are required to meet the standards within a time limit. For the financial leasing companies included in the supervision list, gradually guide the local financial supervision departments to carry out classified supervision.

In addition, the relevant person in charge of the CIRC said that according to the feedback of previous research and opinions, there are still differences on whether to set administrative license and how to set administrative license of financial leasing companies. In accordance with the principle of problem oriented, urgent use first, the measures focus on the improvement of business rules and the strengthening of post event supervision, clarify business rules, unify regulatory standards, and temporarily do not involve administrative licensing and punishment and other related matters. Next, according to the regulatory practice, we will actively study and demonstrate the administrative licensing of financial leasing companies.