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CBRC'S New Approach Loosening Financial Lease

2013/12/17 17:14:00 16

CBRC Finance Leasing Company Management Method

industry generally believe that the new approach will bring a lot of benefits to the leasing industry of < a href= "http://sjfzxm.com/news/index_cj.as" > Finance < /a >, and the main body of the financial leasing market and the scale of assets are expected to accelerate expansion. 
 the threshold for entry of the promoters is lower than /p >
 6, Li Jianhua, director of the non banking department of the China Banking Regulatory Commission, revealed at the media briefing that as at the end of the three quarter, 23 financial leases under the supervision of the "a href=" http://sjfzxm.com/news/index_cj.as "CBRC" /a "had nearly trillions of assets, accounting for half of the total market share of the financial leasing market. 
 "in order to further implement the guiding opinions of the general office of the State Council on financial support for economic structural adjustment and spanformation and upgrading" (No. 67 of the State Office [2013]) (hereinafter referred to as "gold ten"), the CBRC has revised the entry conditions of financial leasing companies to guide all kinds of social capital (including private capital) into the financial leasing industry. Li Jianhua said. 
 one is that the measures no longer distinguish between the main contributor and the general investor, and stipulates that the five domestic and foreign commercial banks, domestic manufacturing enterprises, overseas financing leasing companies, other domestic juridical institutions and other overseas financial institutions shall be the sponsors. The two is the abolition of the main contributor's contribution to more than 50% of the provisions. However, in order to give full play to the professional advantages of the sponsors in financial business management and leasing operations, it is stipulated that the sponsors should include at least one qualified commercial bank, manufacturing enterprise or overseas finance leasing company, and its contribution ratio should not be less than 30%. 
 "the way" reduces the proportion of capital contribution, and is conducive to private "a href=" http://sjfzxm.com/news/index_cj.as > capital < /a > entry. Executives of a financial leasing company revealed that in addition to many local city firms who had been actively preparing financial leasing companies, there are already large manufacturing enterprises such as Shenyang electric machinery and other overseas institutions, which apply for the establishment of financial leasing companies to the CBRC, and are expected to be approved by the end of this year and early next year. 
 the senior manager of the financial leasing company expects that a new round of financial leasing companies will be expanded after the introduction of the new "measures". 
 widening the scope of operation 
 in addition, the new approach, whether in the financing side of financial leasing companies or in the end of capital utilization, has a relatively large policy strength, which means that the "governor's two pulse" has been opened up. 
 first, the source of funds. The measures relaxed the conditions of non bank shareholders' deposits, and the minimum period was reduced from 1 years to 3 months. At the same time, the "spanfer of receivable leases" to commercial banks is revised to "spanfer financial leasing assets", and the object of spanfer is no longer confined to commercial banks. 
Besides, P can also issue financial bonds and asset securitization and so on. 
 in the light of doubts about the slow progress of securitisation of financial lease assets, Li Jianhua said that as long as the market can be recognized, there will be no restrictions in policy. 
 for this reason, financial leasing people say that asset securitization can not only integrate funds, but also adjust the structure of assets and liabilities and improve the level of liquidity management. Previously, asset securitization projects such as ICBC leasing and livelihood lease have been approved by the SFC, but they haven't been issued yet. The "measures" clearly expressed support for financial leasing assets securitization is expected to officially open the gate. 
 in order to widen the way of capital utilization, the measures also increased the investment in fixed income securities in the scope of operation of financial leasing companies. In the view of the above financial leasing companies, it is conducive to regulating the liquidity of financial leasing companies and improving their profitability. 
 in addition, the "measures" also mentioned that according to the principle of classified management and classified licensing, the measures divided the financial leasing company's business scope into basic business and upgrading business, and financial leasing companies with better operating conditions and stronger risk control capabilities could set up item company and carry out asset securitization and other upgrading businesses in bonded areas. Subsidiaries of financial leasing companies will also be spanformed from pilot to normalization. 
 "this will help financial leasing companies to become more specialized in the field of aircraft and ship and to form international competitiveness." A financial leasing company executive disclosed that financial leasing companies such as livelihood leasing and state bank leasing have plans to become subsidiaries in specialized business areas. 
 but there are also market participants who believe that the new approach lacks the guiding provisions for restricting "loans" business and supporting the development of SMEs.