Commercial banks known as the "Bible" of the "loans General Clauses", the amending of the spent such a long time » The long wait will give people a blueprint for how »
"General Clauses loans" and some existing laws and regulations conflict. For example, when the borrowers are domestic limited liability companies or joint-stock companies, loans to borrowers who have the right to advocate the rights of the company on the issue, as under the law of the "loans General Clauses" as the top law and the "Company Law" in the "Crash."
If it changes the direction of the compass, Columbus will sail another more fertile continent »
"This amendment is very bold, we have been looking forward to certain things from the unspoken words into text." Calls the character, a senior bank credit to the tone of Touzhe excited, "" loans General Clauses "of bank credit The work of the guidelines, it can be said that the banks now face even more open space for survival. "
The entry of the bank credit sector for almost 10 years, as an old credit, he witnessed a bank credit management system of several changes: from the earlier "Credit Management Ordinance", in 1996 promulgated the "loans General Clauses" Amended in 2000 to start "loan General Clauses", to April 6 this year, the central bank official with the China Banking Regulatory Commission jointly issued the "General Clauses loans," the draft…… Meanwhile, in 2002 he also participated in the Chengdu branch of the People's Bank of organizations "Loan General Clauses" amendment discussion.
However, despite the participation of a number of consultation work, but the face of this amendment has set the cancellation of four departments regulations, with many industry people, until April 6, he still think that the new "loan General Clauses" issued by the day Seems to be nowhere in sight.
Commercial banks known as the "Bible" of the "loans General Clauses", the amending of the spent such a long time » The long wait will give people a blueprint for how »
Year introduced the new General Clauses
April 7, is responsible for amending the "loans General Clauses" one of the main sectors of the central bank said the Secretary for financial markets, the new "loans General Clauses" This year will be officially promulgated, but it does not determine whether in the first half.
The people, "said General Clauses loans," the amendment as early as the late 1990s has already proposed, some formal change from 2000 onwards, which has sought formal and informal consultation in two stages.
From 2000 to 2003 in the first half, the People's Bank land have continued to commercial banks issued a revised version of informal questionnaires and modification in the banking industry to seek internal changes. Specifically, convened by the People's Bank of branches of commercial banks related departments to discuss "loans General Clauses" how to revise, and then summarized the views submitted to the reunification of the head office.
In response, the Chengdu Commercial Bank Credit Zhang Xiaoming, general manager of the Department of Management impressive: "People's Bank branch in Chengdu will be held to discuss the amendment I have participated in several times." Secretary for financial markets the central bank also confirmed that "in addition to the bank issued A revised version of the hands, we departments to "loan General Clauses" Laws can be said to be many, many times. "
Look back to see a revised version of previous years, many of the provisions of the changes is like triple jump, each time Yuechu a major step forward. As of 2003, February 11日下of the revised draft as an example, compared to the original "loan General Clauses", the revised version of the relaxation of the loans extended period, such as the long-term loans extended by the cumulative period of three years to five years to relax while in the year 4 On 6 of the revised draft, specific restrictions have been completely cancelled.
With the February 11, 2003, under the revised draft, prepared by the People's Bank of amending the questionnaire, a total of 21, many of which are the industry and academia have all controversial issues. For example, whether it is necessary to regulate foreign natural persons and legal persons in the territory of the borrower acts » The reality in many organs because of corporate functions as a reason for the borrower is a matter of fact, this was in line with norms »
In the extensive solicitation of opinions, a new revised draft clearly states: organs of legal persons and their branches shall not apply for a loan; foreign legal persons, other organizations or individuals to apply for loans, are not allowed to violate state foreign exchange control regulations.
September 17, 2003, the People's Bank official document in the form of several commercial banks issued the draft.
March 30 this year, the central bank in Guiyang, held a national work conference on monetary credit, Wu Xiaoling, vice president of the branch to meet requirements of the head office to "loan General Clauses" modification. The first time in a week, to the public for comments a revised version of the official release.
Solicit opinions from the bank to expand the scope to the public, this seems to mean that, after Grounding in the first five years, the new version of the revised version finally maturing.
A branch of the People's Bank of view of the Director of monetary credit, "General Clauses loans" such a long time to amend one of the reasons is that last year China Banking Regulatory Commission and Central Bank separation, and separate the functions of institutions are likely to affect the amendments. "Time, the central bank and some of the functions of the CBRC is not very clear, convergence and coordination will take time." He said.
Then, in this process, the revision of how the two departments conducted » After the management functions and how the distribution and coordination »
Secretary for financial markets the central bank to answer, "General Clauses loans," the amendment mainly by the Secretary for financial markets under the lead of the credit policy, and the Department of the CBRC to discuss policies and regulations, the final sign. Amendment, a China Banking Regulatory Commission regulation, two and three have made a lot of views.
He further explained that the "loans General Clauses" in some of the provisions involve both the People's Bank of China Banking Regulatory Commission and the management functions of the two departments, in particular the management of the future based on their respective functions and division of labour, little coordination difficult.
To be non -
And the time-consuming revision of the doubts Ruyingsuixing too long, the old "loans General Clauses" certain provisions of discontent.
"In recent years the pace of reform of financial institutions is very large, operation and management of loans have taken place in fundamental change, but" General Clauses loans "from 1996 on the promulgation of the not updated, as the banking sector and the Programme of Action of the criteria, it has to Non-time can not be changed. "A city commercial bank credit, the Department of Management official said.
The original "loan General Clauses" of the People's Bank in 1996 in the form of two orders issued from August 1, 1996 will go into effect. "At that time," General Clauses loans "as a new loan management guidelines, instead of the original obsolete" the credit management ", the credit management industry as a major progress." The City firm credit for memories.
However, as the situation changes in the financial markets, "General Clauses loans" was like a mill bad old times, those "outdated" and that the terms of a point Xiuban, gradually Xiaoshi its Guanghua.
Wuhan Branch of the People's Bank subsidiary to a branch, "said General Clauses loan" of some old, outdated financial management tools, in reality the Chiang Kai-shek gradually be eliminated, "now the business development has far exceeded the 1996 level, many new Emerging types of loans, such as cars, housing, education loans. But the "General Clauses" provisions of a single type of loan, the bank launched a new financial business subject to many restrictions. "
He also pointed out: "" General Clauses loans "provided by non-performing loans, 'the two spent more than a' standard division, has completely failed to keep pace with the CBRC and the People's Bank loans now vigorously promote the situation of a Category 5."
In order to change the rules alone, more daring proposal was on the table: the name of "loan General Clauses" Laws of the machine, improve its legal level.
Last year in March, the governor of the People's Bank Shanghai Branch, Hu Ping West NPC deputies put forward, "loans General Clauses", a departmental regulations, proceedings in cases involving only the light and not as a basis for law enforcement, law enforcement and not conducive to the respondent, Banks in the fight against malicious Tao Feizhai some enterprises when compared passive.
Hu also said that "loans General Clauses" and some existing laws and regulations conflict. For example, when the borrowers are domestic limited liability companies or joint-stock companies, loans to borrowers who have the right to advocate the rights of the company on the issue, as under the law of the "loans General Clauses" as the top law and the "Company Law" in the "Crash."
-- Consult the relevant departments at the central bank, a source, the central bank and the State Council Legislative Affairs Office has repeatedly explore the possibility of "loan General Clauses" rise to the law, now seems "likely, but require a longer time, mainly to See the State Council Legislative Affairs Office. "
To promote the "loans General Clauses" Another factor is the change, according to the People's Bank of the Chengdu branch of a person, when enacted, "General Clauses loans" by relying on the two main law - the "People's Bank of China" and "Law on Commercial Banks" Major changes have taken place in December 27 last year to amend passed, "" General Clauses loans "are the foundation for a change, only be amended as soon as possible with these basic match."
Asset securitization that broke »
The draft of the Gospel and not only here.
In recent years, the securitization of housing loans despite the hot topic of discussion all, it has no clear progress. On the one hand, the country 1.2 trillion in bank funds apply up to 10, 20 or even longer period of housing loans, banks look forward to the adoption of the securities, which will be part financed by the "stagnant water" into a "running water"; another On the one hand, the largest housing loan provider - the Construction Bank and Industrial and Commercial Bank of the mortgage securitisation programme has not been repeated regulatory approval, the securitization of credit assets in the country is still blank.
Many people believe that, to a large extent, depends on the situation changes when Jian Guanceng open the door to asset securitization.
The answer in "loans General Clauses" in the revised version. In Chapter VI "special provisions for loan management", the makers spent eight articles have taken the trouble to set out "the transfer of loans," the various problems involved.
Needs understood is that the "the transfer of loans," it includes securitization of credit assets of the meaning »
April 7, the reporters involved in an amendment to the Central Bank "loan General Clauses" of advice: "In addition to the transfer of loans that some banks now between the loan transfer, it also includes asset securitization» "
The official replied: "Rather, for asset securitization Huazuo a system of preparation, because of asset securitization is the basic core of the transfer of assets, it is rather special means of transfer and we hope that gradually establish a loan of two Markets for loans to flow. "
Revised draft also answered an endless disputes in the industry has been the key issue: the transfer of loans, whether this should also be credited to the assets on the balance sheet »
Housing Loan Bank is one of the best assets, non-performing loan ratio is very low, the banking diluted non-performing loan ratio of a weapon. Therefore, the Construction Bank and Industrial Bank after the programme, have taken will be after the securitization of the assets continue to remain on the table model.
However, people doubt that the two banks of the programme has repeatedly rejected the main reason for this is because Jian Guanceng hope that through the securitization of all the current methods will focus on the risks of banks distributed to investors, if the assets remain in the table, it is not The real risk of separation.
Now, given the choice of Jian Guanceng. "General Clauses loans," the draft will be divided into two loan transfer mode of operation: "retain the right of recourse" and "not to retain the right to recourse." And provides that: "transferee to retain the right of recourse loan transfer, the transferor should be recorded in the sheet."
"CCB within the envisaged establishment of the SPV, the loans will be sold is actually a department of internal and did not sell. Regardless of whether or not to retain right of recourse, the premise is to be sold." Above the central bank explained, "to the bank Said that reservations for the sale of non-recourse sale of real, should be documented in the table; does not retain the right of recourse is true sale, should be documented in the table. "
New question
"Some of the provisions of the design reflects the idea: to the bank more autonomy." Central bank to such a broad Jian Guanceng the revised thinking.
He referred to the abolition of restrictions on loan extension of the terms. The old "General Clauses loans" were provided for the short, medium and long-term loans extended period; revised version was replaced by: "loans were required to review loan extension for the assets conversion cycle reasons for the changes and the actual needs and adhere to the principle of prudent management , Rationally determine the loans extended period. "
In this connection, the aforementioned bank credit to agree with: "the ever-changing business conditions, industry downturn because of some temporary downturn, these companies also hope that across the board certainly unreasonable…… commercial banks is, after all, financial enterprises, is an independent The main players in the market, they should be given more autonomy. "
But the people are at the same time, the new revised version still has some of the missing.
"" Loans General Clauses "Why are only bound by borrowers and lenders, to let matters drift? Intermediary» "He had some puzzling," some accounting firms to assess the firm for the false report issued by enterprises, banks are issuing loans Deceived, the final loss is also banking. "
For example, he said, "Securities Act" on the intermediate structure of the irregularities established punitive measures. Such as the "Securities Law" Section 202 provides for the issuance of securities, or listed securities trading activities issued by the audit report, assets assessment report or legal opinions and other documents of the professional bodies, they should be responsible for the content of the fraud, the confiscation of illegal income , Punishable by five times the illegal income more than doubled following the penalty, by the relevant competent departments shall order the closure of the institution, the suspension of direct responsibility for the qualification certificates. Caused the loss, assume joint and several liability; constitute a crime, shall be held criminally accountable.
"Since the" Securities Act "can regulate intermediaries," General Clauses loans, "it can also be considered for inclusion in these elements» "He suggested that the Road.
Related
People's Bank of China, China Banking Regulatory Commission before the 1996 promulgation and implementation of the "loans General Clauses" was revised and the revised version of the open for comments.
According to the draft, in the Chinese territory in accordance with the law established by foreign financial institutions in issuing loans, must also comply with the General Clauses.
On the duration of loans and interest rates, the draft did not like the original General Clauses specific provisions, but rather a matter of principle provisions.
And General Clauses similar to the original, the draft stipulates that the borrower shall not be used for loans for use in equity investment, the loan as a registered capital, or capital increase registered capital verification Kuogu; shall not be used for stocks, futures, financial derivatives and other investment And so on.
For loans of audit responsibilities, the draft than the original General Clauses were thinning. According to the draft, the lender should the borrower 7 aspects of the review. These elements include: the borrower's financial position, cash flow and historical repayment records and other non-financial factors to assess the borrower's credit rating; guarantee the quality and legal effect; association of corporate loans, should be unified assessment review all related enterprises The assets and liabilities, financial situation, external security and related enterprises between the mutuality, and so on.
Compared with the original General Clauses, the draft law has greatly enhanced the responsibility of the punishment should be imposed. Not only will a fine of 5,000 yuan to 10,000 yuan to 100,000 yuan following more than 500,000 yuan the following, but also against borrowers and lenders violations, the specific provisions of the liability.
"General Clauses loans" and some existing laws and regulations conflict. For example, when the borrowers are domestic limited liability companies or joint-stock companies, loans to borrowers who have the right to advocate the rights of the company on the issue, as under the law of the "loans General Clauses" as the top law and the "Company Law" in the "Crash."
If it changes the direction of the compass, Columbus will sail another more fertile continent »
"This amendment is very bold, we have been looking forward to certain things from the unspoken words into text." Calls the character, a senior bank credit to the tone of Touzhe excited, "" loans General Clauses "of bank credit The work of the guidelines, it can be said that the banks now face even more open space for survival. "
The entry of the bank credit sector for almost 10 years, as an old credit, he witnessed a bank credit management system of several changes: from the earlier "Credit Management Ordinance", in 1996 promulgated the "loans General Clauses" Amended in 2000 to start "loan General Clauses", to April 6 this year, the central bank official with the China Banking Regulatory Commission jointly issued the "General Clauses loans," the draft…… Meanwhile, in 2002 he also participated in the Chengdu branch of the People's Bank of organizations "Loan General Clauses" amendment discussion.
However, despite the participation of a number of consultation work, but the face of this amendment has set the cancellation of four departments regulations, with many industry people, until April 6, he still think that the new "loan General Clauses" issued by the day Seems to be nowhere in sight.
Commercial banks known as the "Bible" of the "loans General Clauses", the amending of the spent such a long time » The long wait will give people a blueprint for how »
Year introduced the new General Clauses
April 7, is responsible for amending the "loans General Clauses" one of the main sectors of the central bank said the Secretary for financial markets, the new "loans General Clauses" This year will be officially promulgated, but it does not determine whether in the first half.
The people, "said General Clauses loans," the amendment as early as the late 1990s has already proposed, some formal change from 2000 onwards, which has sought formal and informal consultation in two stages.
From 2000 to 2003 in the first half, the People's Bank land have continued to commercial banks issued a revised version of informal questionnaires and modification in the banking industry to seek internal changes. Specifically, convened by the People's Bank of branches of commercial banks related departments to discuss "loans General Clauses" how to revise, and then summarized the views submitted to the reunification of the head office.
In response, the Chengdu Commercial Bank Credit Zhang Xiaoming, general manager of the Department of Management impressive: "People's Bank branch in Chengdu will be held to discuss the amendment I have participated in several times." Secretary for financial markets the central bank also confirmed that "in addition to the bank issued A revised version of the hands, we departments to "loan General Clauses" Laws can be said to be many, many times. "
Look back to see a revised version of previous years, many of the provisions of the changes is like triple jump, each time Yuechu a major step forward. As of 2003, February 11日下of the revised draft as an example, compared to the original "loan General Clauses", the revised version of the relaxation of the loans extended period, such as the long-term loans extended by the cumulative period of three years to five years to relax while in the year 4 On 6 of the revised draft, specific restrictions have been completely cancelled.
With the February 11, 2003, under the revised draft, prepared by the People's Bank of amending the questionnaire, a total of 21, many of which are the industry and academia have all controversial issues. For example, whether it is necessary to regulate foreign natural persons and legal persons in the territory of the borrower acts » The reality in many organs because of corporate functions as a reason for the borrower is a matter of fact, this was in line with norms »
In the extensive solicitation of opinions, a new revised draft clearly states: organs of legal persons and their branches shall not apply for a loan; foreign legal persons, other organizations or individuals to apply for loans, are not allowed to violate state foreign exchange control regulations.
September 17, 2003, the People's Bank official document in the form of several commercial banks issued the draft.
March 30 this year, the central bank in Guiyang, held a national work conference on monetary credit, Wu Xiaoling, vice president of the branch to meet requirements of the head office to "loan General Clauses" modification. The first time in a week, to the public for comments a revised version of the official release.
Solicit opinions from the bank to expand the scope to the public, this seems to mean that, after Grounding in the first five years, the new version of the revised version finally maturing.
A branch of the People's Bank of view of the Director of monetary credit, "General Clauses loans" such a long time to amend one of the reasons is that last year China Banking Regulatory Commission and Central Bank separation, and separate the functions of institutions are likely to affect the amendments. "Time, the central bank and some of the functions of the CBRC is not very clear, convergence and coordination will take time." He said.
Then, in this process, the revision of how the two departments conducted » After the management functions and how the distribution and coordination »
Secretary for financial markets the central bank to answer, "General Clauses loans," the amendment mainly by the Secretary for financial markets under the lead of the credit policy, and the Department of the CBRC to discuss policies and regulations, the final sign. Amendment, a China Banking Regulatory Commission regulation, two and three have made a lot of views.
He further explained that the "loans General Clauses" in some of the provisions involve both the People's Bank of China Banking Regulatory Commission and the management functions of the two departments, in particular the management of the future based on their respective functions and division of labour, little coordination difficult.
To be non -
And the time-consuming revision of the doubts Ruyingsuixing too long, the old "loans General Clauses" certain provisions of discontent.
"In recent years the pace of reform of financial institutions is very large, operation and management of loans have taken place in fundamental change, but" General Clauses loans "from 1996 on the promulgation of the not updated, as the banking sector and the Programme of Action of the criteria, it has to Non-time can not be changed. "A city commercial bank credit, the Department of Management official said.
The original "loan General Clauses" of the People's Bank in 1996 in the form of two orders issued from August 1, 1996 will go into effect. "At that time," General Clauses loans "as a new loan management guidelines, instead of the original obsolete" the credit management ", the credit management industry as a major progress." The City firm credit for memories.
However, as the situation changes in the financial markets, "General Clauses loans" was like a mill bad old times, those "outdated" and that the terms of a point Xiuban, gradually Xiaoshi its Guanghua.
Wuhan Branch of the People's Bank subsidiary to a branch, "said General Clauses loan" of some old, outdated financial management tools, in reality the Chiang Kai-shek gradually be eliminated, "now the business development has far exceeded the 1996 level, many new Emerging types of loans, such as cars, housing, education loans. But the "General Clauses" provisions of a single type of loan, the bank launched a new financial business subject to many restrictions. "
He also pointed out: "" General Clauses loans "provided by non-performing loans, 'the two spent more than a' standard division, has completely failed to keep pace with the CBRC and the People's Bank loans now vigorously promote the situation of a Category 5."
In order to change the rules alone, more daring proposal was on the table: the name of "loan General Clauses" Laws of the machine, improve its legal level.
Last year in March, the governor of the People's Bank Shanghai Branch, Hu Ping West NPC deputies put forward, "loans General Clauses", a departmental regulations, proceedings in cases involving only the light and not as a basis for law enforcement, law enforcement and not conducive to the respondent, Banks in the fight against malicious Tao Feizhai some enterprises when compared passive.
Hu also said that "loans General Clauses" and some existing laws and regulations conflict. For example, when the borrowers are domestic limited liability companies or joint-stock companies, loans to borrowers who have the right to advocate the rights of the company on the issue, as under the law of the "loans General Clauses" as the top law and the "Company Law" in the "Crash."
-- Consult the relevant departments at the central bank, a source, the central bank and the State Council Legislative Affairs Office has repeatedly explore the possibility of "loan General Clauses" rise to the law, now seems "likely, but require a longer time, mainly to See the State Council Legislative Affairs Office. "
To promote the "loans General Clauses" Another factor is the change, according to the People's Bank of the Chengdu branch of a person, when enacted, "General Clauses loans" by relying on the two main law - the "People's Bank of China" and "Law on Commercial Banks" Major changes have taken place in December 27 last year to amend passed, "" General Clauses loans "are the foundation for a change, only be amended as soon as possible with these basic match."
Asset securitization that broke »
The draft of the Gospel and not only here.
In recent years, the securitization of housing loans despite the hot topic of discussion all, it has no clear progress. On the one hand, the country 1.2 trillion in bank funds apply up to 10, 20 or even longer period of housing loans, banks look forward to the adoption of the securities, which will be part financed by the "stagnant water" into a "running water"; another On the one hand, the largest housing loan provider - the Construction Bank and Industrial and Commercial Bank of the mortgage securitisation programme has not been repeated regulatory approval, the securitization of credit assets in the country is still blank.
Many people believe that, to a large extent, depends on the situation changes when Jian Guanceng open the door to asset securitization.
The answer in "loans General Clauses" in the revised version. In Chapter VI "special provisions for loan management", the makers spent eight articles have taken the trouble to set out "the transfer of loans," the various problems involved.
Needs understood is that the "the transfer of loans," it includes securitization of credit assets of the meaning »
April 7, the reporters involved in an amendment to the Central Bank "loan General Clauses" of advice: "In addition to the transfer of loans that some banks now between the loan transfer, it also includes asset securitization» "
The official replied: "Rather, for asset securitization Huazuo a system of preparation, because of asset securitization is the basic core of the transfer of assets, it is rather special means of transfer and we hope that gradually establish a loan of two Markets for loans to flow. "
Revised draft also answered an endless disputes in the industry has been the key issue: the transfer of loans, whether this should also be credited to the assets on the balance sheet »
Housing Loan Bank is one of the best assets, non-performing loan ratio is very low, the banking diluted non-performing loan ratio of a weapon. Therefore, the Construction Bank and Industrial Bank after the programme, have taken will be after the securitization of the assets continue to remain on the table model.
However, people doubt that the two banks of the programme has repeatedly rejected the main reason for this is because Jian Guanceng hope that through the securitization of all the current methods will focus on the risks of banks distributed to investors, if the assets remain in the table, it is not The real risk of separation.
Now, given the choice of Jian Guanceng. "General Clauses loans," the draft will be divided into two loan transfer mode of operation: "retain the right of recourse" and "not to retain the right to recourse." And provides that: "transferee to retain the right of recourse loan transfer, the transferor should be recorded in the sheet."
"CCB within the envisaged establishment of the SPV, the loans will be sold is actually a department of internal and did not sell. Regardless of whether or not to retain right of recourse, the premise is to be sold." Above the central bank explained, "to the bank Said that reservations for the sale of non-recourse sale of real, should be documented in the table; does not retain the right of recourse is true sale, should be documented in the table. "
New question
"Some of the provisions of the design reflects the idea: to the bank more autonomy." Central bank to such a broad Jian Guanceng the revised thinking.
He referred to the abolition of restrictions on loan extension of the terms. The old "General Clauses loans" were provided for the short, medium and long-term loans extended period; revised version was replaced by: "loans were required to review loan extension for the assets conversion cycle reasons for the changes and the actual needs and adhere to the principle of prudent management , Rationally determine the loans extended period. "
In this connection, the aforementioned bank credit to agree with: "the ever-changing business conditions, industry downturn because of some temporary downturn, these companies also hope that across the board certainly unreasonable…… commercial banks is, after all, financial enterprises, is an independent The main players in the market, they should be given more autonomy. "
But the people are at the same time, the new revised version still has some of the missing.
"" Loans General Clauses "Why are only bound by borrowers and lenders, to let matters drift? Intermediary» "He had some puzzling," some accounting firms to assess the firm for the false report issued by enterprises, banks are issuing loans Deceived, the final loss is also banking. "
For example, he said, "Securities Act" on the intermediate structure of the irregularities established punitive measures. Such as the "Securities Law" Section 202 provides for the issuance of securities, or listed securities trading activities issued by the audit report, assets assessment report or legal opinions and other documents of the professional bodies, they should be responsible for the content of the fraud, the confiscation of illegal income , Punishable by five times the illegal income more than doubled following the penalty, by the relevant competent departments shall order the closure of the institution, the suspension of direct responsibility for the qualification certificates. Caused the loss, assume joint and several liability; constitute a crime, shall be held criminally accountable.
"Since the" Securities Act "can regulate intermediaries," General Clauses loans, "it can also be considered for inclusion in these elements» "He suggested that the Road.
Related
People's Bank of China, China Banking Regulatory Commission before the 1996 promulgation and implementation of the "loans General Clauses" was revised and the revised version of the open for comments.
According to the draft, in the Chinese territory in accordance with the law established by foreign financial institutions in issuing loans, must also comply with the General Clauses.
On the duration of loans and interest rates, the draft did not like the original General Clauses specific provisions, but rather a matter of principle provisions.
And General Clauses similar to the original, the draft stipulates that the borrower shall not be used for loans for use in equity investment, the loan as a registered capital, or capital increase registered capital verification Kuogu; shall not be used for stocks, futures, financial derivatives and other investment And so on.
For loans of audit responsibilities, the draft than the original General Clauses were thinning. According to the draft, the lender should the borrower 7 aspects of the review. These elements include: the borrower's financial position, cash flow and historical repayment records and other non-financial factors to assess the borrower's credit rating; guarantee the quality and legal effect; association of corporate loans, should be unified assessment review all related enterprises The assets and liabilities, financial situation, external security and related enterprises between the mutuality, and so on.
Compared with the original General Clauses, the draft law has greatly enhanced the responsibility of the punishment should be imposed. Not only will a fine of 5,000 yuan to 10,000 yuan to 100,000 yuan following more than 500,000 yuan the following, but also against borrowers and lenders violations, the specific provisions of the liability.
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