Property loan risks under control: CBRC
Print Edition
THE risks from property loans in China are controllable but insolvent property developers should be prevented from spreading risks into the financial system, the country’s banking regulator said yesterday.
The China Banking Regulatory Commission reiterated that curbs on property development loans, land reserve loans and personal mortgages will not be eased, and no discounts will be given to borrowers.
There’s no room for bargaining, the CBRC said, adding that it will strictly curb property loan risk as it presented the 2013 annual report yesterday.
The CBRC also urged banks to draft emergency plans to mitigate risks from the sector and adhere to the “list” management approach that grants credit to developers on a “positive list.” The list, which applies to property loans and local government financing platforms, is jointly managed by the central bank, the CBRC, local governments and the banks.
The loan-to-deposit ratio, which limits the maximum amount of loans a bank can extend based on the deposits it holds for a certain period, will be refined to “keep up with the times,” the CBRC said.
The CBRC has exempted banks in the Shanghai pilot free trade zone from this requirement for now.
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