CBRC: No personal loans without specified use shall be issued

Xinhua Beijing, October 28 (reporter Bai Jiechun Liu Shiping) China Banking Regulatory Commission 28th announced that the "interim measures for the administration of personal loans" for public consultation for the Community, stressed that lenders should not be issued without specific use of personal loans, and must establish and strictly implement the loan interview system to ensure the authenticity of the loan.　　The CBRC said that in order to standardize the personal loan business behavior of banking institutions, strengthen the prudent management of personal loan business, effectively guard against risks, improve the fine level of credit asset Management, drafted "Interim measures for the administration of personal loans (draft for soliciting opinions)". The draft stipulates that lenders shall not issue personal loans without a specified purpose. At the same time, the lender should strengthen the loan fund payment management, according to the contract use to the borrower's trading object to pay.　　In principle, the personal loan funds shall be paid to the borrower by the trustee payment method.　　The draft emphasizes that the lender should require the borrower to sign the loan contract and other related documents in person, establish and strictly implement the credit interview system, grasp the authenticity of the borrower's transaction, the real use of the loan, the repayment intention and the repayment ability, and prevent the false mortgage business from happening.　　The draft also sets out the scope of the business that does not apply, including bank loans issued by banks, individual loans from auto finance companies, and credit card overdraft.　　The CBRC said that the draft did not set additional conditions for the application of specific types of loans and that the monitoring and management of the whole process of the loan did not raise the threshold of personal access to credit and therefore would not have an impact on the acquisition of credit. The draft is divided into eight chapters and 44 articles. The deadline for comments is November 19, and comments and suggestions can be fed to the CBRC by letter, e-mail or fax.