Have policies such as housing, serving private enterprises and small and micro enterprises been put in place?

It is mainly a "look back" on the chaos rectification work in the past three years.

The China Banking Regulatory Commission said that in recent years, China's banking and insurance market chaos rectification work has achieved remarkable results, but corporate governance of some banking and insurance institutions is still not perfect, risk management is still weak, problems in some fields have been repeatedly investigated and banned, and major cases and risk events have occurred from time to time.

Therefore, the "Notice" clarifies that the rectification of market chaos for three consecutive years will be "reviewed". See whether the main responsibility is put in place, whether the real economy really benefits, whether the rectification measures are strict and effective, whether the violations of laws and regulations are clearly contained, and whether the compliance mechanism is sound and effective.

The work reports of financial institutions should be focused and detailed, including but not limited to: the implementation of the organization and the implementation of the main responsibilities; Supervision and evaluation of rectification and accountability; Main problems and potential risks found; Work measures taken (including but not limited to accountability for punishment, establishment and implementation of institutional mechanisms, etc.). ); Achievements and experience of remediation since 20 17; The next work plan and suggestions, etc.

The CBRC requires the whole system to improve its political stance, deeply understand the great significance of financial support for small and medium-sized enterprises to do the "six guarantees" work and implement the "six guarantees" task, and grasp the organic unity of controlling chaos, preventing risks and stabilizing growth. Urge banks and insurance institutions to effectively transmit inclusive finance policy dividends to private small and micro enterprises, constantly promote the reduction of comprehensive financing costs of enterprises, and severely crack down on illegal arbitrage in obtaining loans through financing policies according to law. We will continue to investigate and deal with violations of laws and regulations in macro-policy implementation, equity and corporate governance, business operation, shadow banking and cross-financial business, and severely deal with violations of laws and regulations in the name of "financial innovation" according to law.

The circular further stressed that all banking insurance institutions should vigorously promote radical rectification, achieve in-depth self-examination, real rectification and strict accountability, establish and improve the management system for all employees, deeply integrate the management of financial chaos with the cultivation and improvement of risk culture, and effectively improve the level of legal compliance and risk management. Regulators at all levels should intensify their efforts to investigate and deal with acts that violate macro-control policies, infringe on the legitimate rights and interests of financial consumers, and repeatedly investigate and commit crimes. Those who disrupt market order, cause heavy losses or even induce risk events due to financial corruption and illegal crimes will all go to hell.

Banking institutions "look back" to add new content

The reporter noted that, together with the Notice, there are also the Key Points of Looking Back at the Market Chaos of Banking Institutions in 2020 (hereinafter referred to as the Key Points) and the Key Points of Looking Back at the Market Chaos of Non-banking Institutions in 2020.

Among them, the main points of "looking back" in the rectification of market chaos in banking institutions mainly include macro-policy implementation, equity and corporate governance, credit management, shadow banking and cross-financial business, innovative business and accountability for rectification. In terms of macro-policy implementation, it includes the service policy for private and small and micro enterprises, the policy of "housing without speculation", the financial poverty alleviation policy and macro-control policies in other key areas.

In response to the policy of "staying in the house and not speculating", the CBRC put forward the main points of "looking back" on the rectification of the following market chaos:

Direct or disguised use of off-balance sheet funds for land leasing or land reserve financing; Failing to strictly examine the qualifications of real estate development enterprises and illegally providing financing for real estate development projects with incomplete "four certificates"; Personal comprehensive consumer loans, commercial loans, credit card overdrafts and other funds were diverted to purchase houses; Liquidity loans, M&A loans, operating property loans and other funds were misappropriated for real estate development; Consignment of trust products and other asset management products that violate real estate financing policies and regulations.

Compared with the main points of work in 20 19, some changes have taken place this year. For example, putting "macro policy implementation" in the first place and adding "innovative business" instead of "key risk disposal". Among them, innovative businesses include online loan business, credit card business and derivative products business.

Insurance institutions "look back" and focus on seven major aspects.

Looking back, insurance institutions mainly include macro-policy implementation, corporate governance, insurance fund utilization, sales claims, financial business data, universal insurance business and innovative business.

In terms of macro-policy implementation, the main points of "looking back" in market chaos rectification are:

Insurance funds are illegally invested in industries or industries prohibited by the state and supervision; Providing financing to real estate companies and real estate projects that do not meet the policy requirements in violation of regulations through equity investment and real estate investment; Providing financing to local governments in violation of regulations or illegally adding local government debts through financing platforms; The development, design and business expansion of insurance products deviate from the source of protection; The implementation of the precise poverty alleviation policy is not in place, and there is no substantial difference between the exclusive agricultural insurance products for poverty alleviation and ordinary commercial insurance products. The agricultural insurance rates in the deep poverty-stricken areas of "three districts and three States" have not been reduced as required.

In terms of the use of insurance funds, the Notice requires that the following acts be rectified:

Failure to observe the principles of prudence and safety; Set up a platform company by means of unlisted equity, real estate investment, etc., intercept, misappropriate and transfer insurance funds through the platform company, transfer benefits to related parties, and use them for capital increase in violation of regulations; The upper limit ratio of investment in a single asset and a single counterparty; Issuing combined insurance asset management products with channel nature to provide channels for other institutions to carry out related party transactions or evade supervision in violation of regulations; Assemble asset management products to carry out multi-layer nested investment business that violates the requirements of new asset management regulations; Invest in the collective fund trust plan by means of multi-layer nesting to avoid regulatory requirements; Without the ability of investment management, it borrows the entrusted channel to invest in high-risk areas such as stocks in disguise, which hinders the trustee from performing his duties normally; Post-investment management is not in place.

China Banking Regulatory Commission requires that all insurance legal person institutions of banks should submit semi-annual and annual work reports and schedules to the regulatory authorities before July 30, 2020 and June 65438+February 10, respectively.