You can Xudai support to steel production capacity of coal enterprises
To capacity, structural adjustment, the need to stabilize the economy and expectations linked. CBRC further refinement of key industries to maintain pressure policy, to explore the production process, a smooth and orderly disposal of financial claims and liabilities.
Caixin reporters from a number of banks have informed, recently, China Banking Regulatory Commission on the "Pre-Painted Steel Coil
on the coal industry to resolve a number of opinions overcapacity financial claims and liabilities disposed of" (the "Opinion") to all banking regulatory bureaus, policy banks, large banks and joint-stock banks, asset management companies and financial advice.
"Opinions" in the most market attention that is to support the Asset Management Company (AMC), where AMC, coal iron and steel enterprises to develop market-based debt. (See Caixin report from the Coal and Steel Market Debt beginning) According to the new financial reporter understood that the "opinions" also mentioned that, you can go to coal production capacity iron and steel enterprises to implement Xudai support. To respond to national call, take the initiative to capacity, liquidity difficulties steel coal enterprises, banking institutions can refer to the "China Banking Regulatory Commission on improvement and innovation of small micro-enterprise loans to improve the small and micro business financial services notification" ( "Notice" ), Xudai give policy support.
This does not mean that any business will get Xudai support. Now, according to the new financial reporter, "notice", after passing the examination can apply for banking institutions Xudai small and micro enterprises, need to meet these conditions: First, co-operate according to the law regulations, the second is the normal production and operation, has continued viability and good financial position, the third is good credit, repayment ability and willingness to repay is strong, there is no diversion of loan funds, Qiandai overdue interest and other bad behavior, four of the original loan and the cash flow normal class, and in accordance with newly issued liquidity flow Loan conditions and criteria.
The main purpose of this document is that the capacity to explore the process, a smooth and orderly disposal of financial claims and liabilities. Earlier Bankers told reporters the new fiscal year, the biggest bank asset quality risks, that the backward production capacity exit, exit zombie business process uncertainty.
In this regard, "opinions" expressed support for the banking sector for coal iron and China Aluzinc Steel Sheet Coil enterprise independent loan interest relief, to support banking institutions to meet the requirements of iron and steel coal enterprises relief loan principal.
Specifically, the initiative to capacity, there are certain difficulties in the financial coal iron and steel enterprises, the bank credit rating of BBB (with) what can be negotiated with the bank, the bank decided to reduce the independent table inside and outside interest, report to the CBRC. To take the initiative to capacity, financial difficulties of steel coal enterprises, do need to reduce the loan principal, according to the banks' corporate lending financial regulatory relief measures "requirement, reduction of the loan principal, report to the CBRC.
But "there are some financial difficulties," the expression, there is no quantitative criteria. "Liquidity squeeze, but do not smoke live for corporate loans, there are certain difficulties that financial companies." A joint-stock banking company department official said.
If there is no quantitative standard, these policies can hardly be landing. "Another joint-stock banks risk department official told reporters on the new wealth, if beforehand the NDRC, the Ministry of Finance and the China Banking Regulatory Commission and other ministries and non-uniform arrangement of information, these support policies actually too difficult to operate.
Meanwhile, the "Opinions" that support the steel coal enterprises reasonable financial demands. For example, advanced technology equipment, products, competitive, market coal iron and steel enterprises, banks should follow the controllable risks, the principles of sustainable business, credit support, not free to draw loans, loans pressure, off the loan. Credit for pumping, compression loans, down loans, adverse effects should be investigated according to the law related to banking charge and directly responsible persons responsible. "In fact, the bank will not draw good business loans, corporate banking only zombies will not expire Xudai." Said the aforementioned joint-stock banks.
This is a continuation of the China Banking Regulatory Commission has been "maintain pressure" credit policy guidance. "Opinions" also pointed out that strict control of illegal coal new steel production capacity credit. Without obtaining the legal procedures for new capacity, will not be allowed to provide credit support; new capacity for illegal businesses, stop lending; for long-term losses, loss of liquidity and market competitiveness "zombie companies", or environmental protection, quality, safety production, technology and other non-compliance and corrective hopeless enterprise, firm compression and exit-related loans.
The question is how to define "zombie companies" is a problem. "Until now there is not a standard 'zombie companies' introduction, the banks on their own judgment to see whether a company to suspend production and management;. Debt ratio to what extent, such as 90%," a surgeon a few important debt program Dahon sources for the new fiscal reporters.
"This is a word game", a joint-stock banks to the new financial correspondent said most of zombie companies, in fact, at the request of local governments, have been classified as "promising but short-term difficulties" of the enterprise so as to obtain a steady stream continued credit support. "Local governments are now mastered zombie companies list of banks are passive." Another large branch province deputy governor said.
What companies can do for debt, the aforementioned big firms that "the core of the debt that is the business of a certain value, or potential value, encountered temporary difficulties, even if it is non-performing assets, but also temporary bad. "If" zombie companies ", even if the debt through the financial costs down, no product sales, companies are still not survive. "From this perspective, 'zombie companies' debt will not do, even to say the least harm than good, at least thirst. If 'zombie companies' debt carried, would be a lose-lose choice. "
In addition, financial institutions in the protection of creditors, the "Opinions" also pointed out that for insolvency, unable to repay maturing debt, according to the provisions of the bankruptcy liquidation coal iron and steel enterprises, the banking industry should actively participate in a meeting of creditors to exercise security rights law actively protect the safety of financial claims.
For Tao Feizhai behavior, "opinion" that, in resolving the excess iron and steel coal production process, malicious evasion of financial debt, bankruptcy or organization Tao Feizhai enterprises, the CBRC to strengthen the financial claims management, organizational Banking Association, banking institutions in time to stop, and to local government reports. For refused to correct, you can stop the organization and implementation of loan accounts stop, stop settlement sanctions effectively curb Tao Feizhai behavior.