CBRC to issue new rules for personal loan

The CBRC issued "interim measures for the administration of personal loans", the application of which should be clearly legal use yesterday, the CBRC formally issued the "Liquidity loan management interim measures", "personal loan management interim measures."　　These two methods and the previous "Fixed assets loan management interim measures" and "project financing Business Guideline" (and called "Three methods a guideline"), preliminarily constructs and consummates our country banking financial institution's loan business legal framework. The credit scheme expressly stipulates that lenders are not allowed to issue personal loans without a specified purpose. An individual should have a clear legal purpose for the loan when making a loan application. At the same time, the "credit method" requires the implementation of the loan interview face sign system, to prevent the emergence of individuals by the illegal elements of the bank loans, or the borrower's credit funds by others to misappropriate. In the case of low risk personal mortgage loans issued through electronic banking channels, lenders may not conduct loan interviews, but at least they should take effective measures to determine the borrower's true identity.　　At the same time, in addition to electronic banking channels for loans, lenders should require the borrower to sign the loan contract and other related documents in person. The loan scheme also stipulates that, except in exceptional circumstances, the personal loan funds shall be paid to the borrower by way of the trustee's payment, that is, the lender shall pay the loan funds to the borrower's transaction object in accordance with the agreed purpose of the contract according to the borrower's withdrawal requisition and payment entrustment. and require the lender to review the loan funds before the release of the relevant transaction data and documents to meet the contract conditions, in the payment of the relevant details of the identification record.　　In addition, the credit scheme emphasizes the effective management of the contract, clarifying the legal liability of the lender, strengthening the pertinence of the loan responsibility and constructing a healthy credit culture. The CBRC officials said that the introduction of the "credit measures" did not raise the threshold for individual loans and would not affect the application for personal loans. Some of these provisions are also conducive to the protection of financial consumer rights, such provisions as "lenders shall inform the borrower of an unauthorized personal loan application," and "if the loan contract adopts the format clause, shall safeguard the legitimate rights and interests of the borrower and be publicized", all protect the interests of the financial consumers.