BOC's mortgage interest rate 5.28 trillion revaluation

Wangfangyan, Liulanchang, Shin. April 23, the Bank of China announced that, according to the contract with the customer, in the interest rate adjustment when the maturity of the first set, two sets, three sets and above, the floating rate of mortgage rates adjusted to the benchmark rate of 0.85 times times, 1.1 times times and 1.2 times times respectively.　　This is the first bank in February to abolish mortgage 70 percent interest rate after another initiative. "The increase in the rate of mortgage loans is mainly due to the improvement of bank net spreads and the increase in bank earnings."　　BOC related Personage said April 26 to the reporter. Other banks are still on the sidelines. CCB, ICBC and other related people said that there is no adjustment of the stock house credit rate policy.　　and the joint-stock Bank of China Merchants Bank, Societe Generale also said that there is no new policy. But market participants judged the likelihood that other banks would follow.　　According to the reporter understand, for the contract does not specify the situation, the increase in the stock of mortgage rates or will cause disputes with customers. As of the first quarter of 2009, the balance of personal real estate mortgage loans was about 5.3 trillion, and if a large amount of credit was reset, banks ' profits would be thickened.　　In the loss of goodwill and the choice between profits, the banking sector is caught in a long test.　　The bank's policy of "preemptive" again, like a bomb, shattered the dream of a 70 percent discount on the stock of clients.　　April 26, the relevant person in charge of BOC to our correspondent further confirmed the implementation of the policy details.　　BOC said that the bank's agreement with customers on mortgage interest rate concessions exist in three different situations, the bank's adjustment to the interest rate of stock loans is not unilateral, mandatory "one-size-fits-all." In the first case, from the beginning of 2009, the Bank of BOC to the branches issued a supplementary agreement on mortgage loans, the provision of mortgage interest rates set to 2 years, the interest rate after the expiration of a new adjustment.　　Since the notice is not a mandatory supplemental clause, only some customers who enjoy the preferential mortgage rate have signed the agreement.　　The second is that, starting from January 1 this year, the Bank of BOC issued a new loan contract text to each branch, which made it clear that the mortgage interest rate is 2 years, and the interest rate will be adjusted after maturity. However, owing to the inconsistent progress of the branches, not all branches were contracted in accordance with the new contract text, so the existence of branches has not yet implemented the new contract text.　　In both cases, the period for which a customer enjoys a preferential rate is 2 years.　　The third situation, that is, 2009 did not sign the supplementary agreement, this year did not follow the new loan contract text signed by the customer, BOC will be in accordance with the specific contract loans in terms of interest rate concessions in the implementation of the provisions.　　At the end of 09, the Bank's mortgage loan balance was 907.6 billion yuan, but it is difficult to determine how many clients will be "raised". However, according to reporters, BOC East China, a region of customers in the 2009-year supplementary agreement, most of them are simply stated to enjoy 70 percent interest rate concessions, but there is no agreed preferential period.　　As a result, restoring 85 percent is more difficult for customers in this area. Moved the stockCustomer's cheese, natural customer response is strong, especially part of the second House mortgage customers, the interest rate from 70 percent to 1.1 times times, a huge difference. ICBC is responsible for a branch of the credit department that BOC's move is to implement the National macro-control policy, the second is from the enterprise itself, 70 percent interest rate bank profit has been very meager, if the early repayment of the situation, 70 percent is a loss, and in accordance with the current real estate market judgment, advance repayment situation or will increase a lot,　　This is the bank's consideration of risk control. But a joint-stock banker said 2009 was a very strong loan.　　It is understood that BOC announced the increase in the rate of mortgage loans before, has evaluated the customer's condemnation and reputation, and for a loan asset risk pricing, but 09, 10, the first set of new mortgages in the more false first set, prompting them to resume interest rate of 85 percent. Interest rate contract "70 percent discount is also a special situation in the interest rate policy, will not be the same, we have long anticipated that the stock 70 percent discount will not always be carried out, the action is relatively fast."　　Said ICBC, a credit ministry. Although the interest rate adjustment of the stock mortgage is favorable to the bank, it should also consider balancing public image and social opinion.　　For the banking industry, the safest thing to do is to wait and see.　　A joint-stock bank said that the future will follow the BOC, would be determined by two factors, first, they will observe the bank on the stock of mortgage interest rate adjustment of customer response to see how the public opinion; the second is to see whether the interest rate agreement between the Bank and the customer has legal flaws.　　In fact, to move the interest rate of mortgage loans depends on the contract, which is related to the adjustment of interest rate cut.　　According to the reporter understands, each bank mortgage contract to the interest rate adjustment way the stipulation is not identical, moreover 2009 the stock mortgage interest rate cut when the choice method also has the difference. One is automatic system adjustment.　　For example, ICBC February 10, 2009 to meet the conditions of the stock of personal housing loan rate float, through the computer system unified adjustment, no need to apply to customers. Chen Shifu, a lawyer at the Shanghai American law firm, said the bank's interest rate drop from 85 percent to 70 percent is a reduction in customer burdens and can therefore be adjusted automatically through the system. However, the increase from 70 percent to 85 percent is to increase the burden on customers, so customers should be asked to agree, "however, 70 percent interest rates can also be understood to be the bank's interest rate concessions, banks also have the right to cancel concessions, therefore, the bank has a greater margin of adjustment." "The other is the way customers apply for and sign supplemental agreements, which is an example of the supplemental agreement of the bank."　　In addition, according to the reporter understand, CCB also adopted the customer's own way of application. This approach involves a specific contract, but there are also a variety of agreements.　　Specifically, for example, the BOC part of the agreement agreed to a two-year period, and some of the agreement only stated that the float 30%, but there is no agreed period. "From the Shanghai area, a lot of banks sign 70 percent offers without a deadline," he said.　　"A joint-stock bank loan head said. "If the supplemental agreement is agreedA two-year period, the bank has the right to adjust interest rates at full time. But if there is no agreement, the bank will involve default.　　"Chen Shifu thinks.　　A broker Analysis report pointed out that in the crackdown on investment in the context of housing, public opinion will not be too negative, and mortgage more difficult, the future of other banks to follow the Bank of the possibility of greater.　　The thickening of bank profits on the stock of customers may restore the fat profits of bank mortgages. The rate of mortgage loans from 70 percent to 85 percent, then the mortgage rate will rise 89 basis points to 5.05%, for the 2009 mortgage policy easing policy to buy second and third suites, the adjustment needs to be based on the benchmark rate of 1.1 times times and 1.2 times times, adjusted interest rate is 6.53%　　And 7.12%, the equivalent of "being raised rate" 237 basis points and 296 basis points respectively. "By the count of the mortgage, the end of 2009 is probably the case, the first set and two sets is about 5.5:4.5, the first set is mostly." But if you want to talk about the amount, the first set and more than two sets of completely upside down, the first and two sets is 3.5:6.5 of the relationship.　　A joint-stock banker said. According to the report of the well-known brokerage, if 40% of the mortgage interest rate from 70 percent to 85 percent, then the mortgage rate will rise 89 basis points to 5.05%.　　The estimated two mortgages in the mortgage accounted for more than 30–40%, so a rough estimate of the impact on bank profits in 1.5%-3%. Societe Generale securities analysts more optimistic. They believe that since the bank's 123 sets of interest rate adjustments and ratios are different, so the unification according to average individual mortgage interest rate rises 15% calculates, by the 2009 year end data as the benchmark, may add the listed bank net spreads margin 8 basis points, the bank net spreads can increase 9 basis points; Total thickening of listed bank net profit 6.3%,　　The net profit of BOC can be thickened by 7.14%. However, they also pointed out that the stock of mortgage adjustment still exist the following problems: The first is to adjust the time point, involving and customer-agreed issues; The second is the customer defaults, after all, many sets of rooms and two-suite investors are actually investors with low wealth accumulation, and the third is personal business loans,　　A lot of commercial property as collateral, this interest rate trend needs attention.　　At the same time, the well-known brokers reported that the measure, although conducive to bank spreads, but further enhance the real estate market uncertainty.　　While BOC said that the interest rate hike was largely a result of higher earnings, he also said that interest rates would be adjusted at the earliest due to the impact of next year, so the bank's profits would not be much affected this year. (newspaper reporter Chen Quancai, Ding Yuping also have contributed)