Second suite policy tightening part of the local down payment will be higher than 50%

9.59 trillion credit or 479.5 billion into the stock market January 15, the Bank of China Supervisory Committee held its 2010 working session, during which the CBRC summed up 2009 years of work experience and focused on the deployment of 2010 years of work arrangements. A person briefed by the CBRC told Huaxia Times that during the working meeting, the CBRC demanded tighter supervision over fixed assets, local government financing platforms and the real estate industry.　　And the CBRC requires strict implementation of the second and above mortgage policy, and the two-suite down payment differential management, interest rate by risk pricing. As commercial banks released the volume of Credit in 2009, the biggest pressure on regulators in 2010 was increased risk of loan losses, said people familiar with the matter.　　As the CBRC has issued a "three-way, one-guideline", this year, the regulator will strictly implement the demand for real loans to guide the money into the real economy. Two suites implement differential treatment in some areas down payment to 52% suite policy has been the market and buyers and investors most concerned about the news.　　January 10, the State Council issued a circular on promoting the steady and healthy development of the real estate market, which is called "State 11" notice by the market interpretation of the government began to rectify the real estate industry began. In the country 11, regarding the second suite loan interest rate to have the new wording, to has used the loan to purchase the housing and to purchase the second set (including) the home, the loan first payment proportion must not be below 40%, the loan interest rate strictly according to the risk price.　　In the interpretation of the market, improved housing is also divided into two of the ranks of the suite. Zhao, senior manager of Construction Bank, said that in the country 11, the loan rate for the two suite is in strict accordance with risk pricing, may more reflect the flexibility of the regulatory layer, and the previous benchmark rate of 1.1 times times does not contradict.　　In the country 11, and did not see more speculative housing restrictions or controls, such as restrictions on the purchase of different places and the number of home purchases. State 11 clearly indicated that the second suite of loans to the first payment ratio should not be less than 40%, but there is no limit. A person close to the Bureau of the CBRC told the Huaxia Times reporter, in the annual meeting of the CBRC, the regulatory level requires continued support for residents to live and improve housing consumption, strict implementation of the two and above mortgage policy, the regulatory layer stressed that, if not able to provide legal and effective proof, all according to two suites treatment, the minimum down payment of 40%, Individual places should be above 50%, with interest rates priced at risk.　　But the bank's insiders did not disclose where the down payment was raised to 50%.　　In the annual meeting of the CBRC, not only the new changes have been made to the two suite policy, but also the credit risk of the real estate industry. In the annual meeting, the regulatory layer also pointed out all kinds of bad behavior of real estate enterprises, such as some developers do not build enclosure, cover plate reluctant, hoarding houses, driving up prices, and some real estate enterprises own capital shortage, high leverage. Some cities have seen prices rise too fast, and some "land king" floorLand price has exceeded the surrounding housing prices, there have been "more flour than bread" phenomenon.　　The banking regulatory authorities said that the supervision layer to strengthen the real estate loan business supervision and management and window guidance, closely monitor the regulation of possible related credit risk.　　The regulator also criticized some of the commercial banks, some of which relied too heavily on real estate loans, and did not see the planning, construction, and normal sales, and the lending behavior was very imprudent. Data from the central bank can also confirm the rapid growth of real estate development loans in the 2009.　　January 20, the central bank announced 2009 financial institutions loans to the statistical report, the main financial institutions and rural cooperative financial institutions and urban credit cooperatives RMB real estate development loan accumulated 576.4 billion yuan. Local financing platform balances up to 6 trillion the CBRC asked to comb through the end of 2008, the United States financial crisis ravaged the world, causing the global real economic decline.　　The Chinese government has put in place a 4 trillion stimulus package, and local governments have also launched matching projects, and growth has become a major guideline for 2009.　　January 21, the National Bureau of Statistics announced 2009 GDP year-on-year growth of 8.7%, successfully completed the target set at the beginning of the year. In the success of the eight operations, the local financing platform played a significant role. 2009, local governments in a timely manner to start and actively implement the relevant supporting investment and construction project funds, and in the local government start-up funds, in addition to the central government funds allocated projects, as well as a part of the local governmental land revenue and revenue,　　and the main source of funding is through the local financing platform docking commercial bank credit. According to statistics from the regulatory level, the loan balance of the national local financing platform is about 6 trillion, and the project loan accounts for about 80%. By the end of September 2009, there were more than 8,000 local financing platforms nationwide. Market participants also pointed out that the scale of local financing platform is expanding, the risk is also increasing.　　In March 2009, the CBRC began correcting bundled loans for local government financing platforms, said the bank's people familiar with the matter.　　The local financing platform is also one of the risks that the CBRC's quarterly Economic Analysis report will be highly regarded. The CBRC called for a comprehensive assessment and effective protection against the risks of local financing platforms, said a person familiar with the CBRC.　　And the Ministry of Finance has issued a notice to regulate the local and its financing platform of debt and guarantee commitments, is strictly prohibited in violation of relevant laws and regulations to lend. These people pointed out that at present provincial governments are leading the clean-up of their own debt, the CBRC asked to strengthen the loan tracking inspection.　　And to urge the banking financial institutions to comb the local financing platform loans, all local financing platforms must be opened, according to the "three understanding" principle, by Project review by individual. Market analysts pointed out that the local financing platform, such as some companies have a weak governance structure, irregular operation, the borrower's main body does not meet the conditions, loan misappropriation, excessive indebtedness, the scale of financing beyond the financial capacity and so on,The potential risks are beyond doubt, which is why the CBRC is highly concerned. Or 479.5 billion of credit funds illegally entered the stock market from the first quarter of 2009 the monthly new loans of commercial banks 1.5 trillion, to the second quarter of 920 billion, 430 billion, 310 billion yuan, although the CBRC corrected the commercial banks in excess of conventional lending behavior,　　But the market has been grappling with how many credit-fund irregularities have not entered the real economy, such as equities. about how many credit funds into the stock market, the State Council Development Research Center, Vice Minister of Macroeconomics Weiganing has repeatedly said that the first half of the 20% credit funds that is more than trillions of money into the real estate and stock market and other asset markets.　　2009 1-June, there are about 1.47 trillion yuan of credit funds into the stock market. In 2009, Cheng, the former vice chairman of the NPC, said that 4.58 trillion was loaned in the first quarter of 2009. The first quarter of the capital investment is 2.88 trillion, planing out 400 billion is the government investment, is 2.48 trillion. 4.58 trillion minus 2.48 trillion, exactly 2.1 trillion.　　These 2.1 trillion flowed into the stock market and the property market.　　With the expansion of credit scale, at the same time, the stock market and the hot market also confirmed that there seems to be illegal access to capital markets.　　The CBRC said in 2009, the Banking Regulatory Commission in the six provinces and cities in the survey of credit funds, calculated that about 4% to 5% of the new credit funds did not enter the real economy, but illegal access to the stock market. If the ratio of supervision to the survey of the whole country, then 2009, the full year of commercial banks released 9.59 trillion, according to 4%-5% to calculate, about 383.6 billion-479.5 billion yuan not according to the requirements of the regulatory layer to support the real economy, but by the way into the 2009-year hot stock market.