CBRC: the grey rhinoceros threatening financial security is under control
On October 22, Liang Tao, vice chairman of the China Banking and Insurance Regulatory Commission, introduced the effectiveness of preventing and resolving financial risks at the 2020 Financial Street Forum. He said that the grey rhinoceros threatening financial security was under control, and the proportion of new real estate loans in all new loans in the first three quarters decreased by 3.7 percentage points compared with the same period last year; in coordination with local governments to resolve hidden debts, bancassurance has been implemented in the past three years Insurance institutions have increased their holdings of local bonds by 11 trillion yuan.
The identification and disposal of non-performing assets have also been greatly promoted. As of the end of September, 80.2% of commercial banks loans overdue for more than 90 days and non-performing loans were also included in the non-performing loans; in the first three quarters, the banking industry disposed of 1.73 trillion yuan of non-performing loans, an increase of 341.4 billion yuan year-on-year; the newly drawn loan loss reserve was 1.54 trillion yuan, up 15% year-on-year.
In the next step, we will continue to resolutely implement the deployment of the CPC Central Committee and the State Council, make risk assessment more comprehensive, prepare measures more fully, and firmly guard against the bottom line of systemic financial risks. Liang Tao said.
First, we will unswervingly fight the battle of preventing and resolving financial risks. We should comprehensively strengthen the leadership and Party building of the grass-roots party, promote the improvement of corporate governance mechanism, grasp the main contradiction of financial stability, prevent the rebound of shadow banks, increase the intensity of non-performing loans disposal, crack down on illegal financial activities, deepen the reform of small and medium-sized banks and defuse risks, prevent abnormal fluctuations in the financial market, increase financial anti-corruption efforts and crack down on the risks behind Interests and ties.
Second, prevent and resolve risks in promoting high-quality economic development. We should adhere to the general keynote of seeking progress while maintaining stability, dredge the credit transmission mechanism, strengthen financial support for major strategic key areas of the country and weak links such as inclusive finance, give better play to the counter cyclical adjustment function of policy finance, actively cultivate institutional investors such as financial management, insurance and trust, and promote the healthy development of the capital market, so as to promote the stability of the macro-economy and support the stability of the economy u3002
Third, speed up the construction of a long-term mechanism for financial risk prevention and control. We will improve the emergency response mechanism for major financial risks, accelerate the completion of institutional weaknesses, and achieve full coverage of all institutions, personnel, businesses, as well as risks inside and outside the balance sheet, at home and abroad. Strengthen the coordination and cooperation of international policy management, strengthen the regional policy coordination of financial and financial industry, and jointly form the organizational joint force of risk prevention. We should strengthen multilateral and bilateral financial regulatory cooperation, actively participate in international financial regulatory cooperation, and jointly respond to global financial risks.
China Banking and Insurance Regulatory Commission: preventing the rebound of shadow banks and strengthening the disposal of non-performing loans
Liang Tao, vice chairman of the China Banking and Insurance Regulatory Commission, said at the annual meeting of the 2020 Financial Street Forum on October 22 that he would unswervingly fight the battle of preventing and resolving financial risks, comprehensively strengthen the partys leadership and Party building in the financial system, promote the improvement of corporate governance mechanism, seize the main spear of financial stability, prevent the rebound of shadow banks, increase the handling of non-performing loans, and severely crack down on illegal gold Financial activities, deepen the reform of small and medium-sized banks and defuse risks, guard against abnormal fluctuations in the financial market, increase financial anti-corruption efforts, and severely crack down on the interests and ties behind the risks.