The online-loan platform filing boots have not yet landed, and the Chongqing P2P company has been suffering. On April 4, the Chongqing Financial Office just issued the "Chongqing P2P Network Loan Risk Special Rectification Rectification and Acceptance Work Implementation Plan" (hereinafter referred to as " On the 10th of April, six days later, the supervision department issued an emergency notice and requested all localities to temporarily suspend the issuance of online loan registration details (the text and the consultation draft).
However, a mutual gold industry insider in Chongqing told the “China Business” reporter that “before the media’s interpretation of suspending the issuance of online loan record registration details and related interpretations was inaccurate. In fact, this regulation of the regulatory authorities is mainly aimed at not yet filing. The records that have already been filed should not be affected. Judging from the attitude and tone of the recent Chongqing regulatory authorities, Chongqing’s regulatory policy should continue as usual.”
According to the specific rectification and filing schedule set out in the “No.57 Document” issued in December last year, before the end of April this year, all localities must complete the registration and registration work of major network lending institutions, and they must be completed by the end of June. At present, the deadline for June is approaching, and the filing and rectification of online loan platforms across the country is being actively promoted. The filing of postponement of mutual-credit loans across the country has even been halted. It is reported that Chongqing has introduced one of the most stringent filing requirements. - pending clearing can be filed.
The national record suspension system misunderstood
The above-mentioned mutual-industry sources told the reporter that “Chongqing’s pending clearing can only be filed. Indeed, the policies that Chongqing has introduced on April 4 are relatively strict, and apart from Chongqing, the policies of other three major municipalities across the country are also comparative. Strictly, at present, not only us, many preparatory work for large-scale high-quality platforms have been done well, but they are not willing to submit their first submission materials and become the target of public criticism. When the financial regulatory agencies of various districts in Chongqing recently held meetings, The preparation schedules for the online loan platform and other preparations also gave specific timetables, some on April 20 and some on April 30."
On the evening of April 4, 2018, the Chongqing Municipal Office of Finance issued a plan. The plan includes "Guidelines for the preparation of legal opinions on compliance operations of P2P lending institutions", "Guidelines for the preparation of special audit reports on the operation of P2P lending institutions," "P2P lending institutions' rectification acceptance and material submission guidelines," and "Chongqing P2P Network Four documents on the Guidelines for the Rectification and Acceptance of Loan Institutions (hereinafter referred to as the “Guidelines”).
The plan puts forward requirements for the special rectification and acceptance of loan risk of P2P network in Chongqing from six aspects, including the principle of objectives, working mechanism, rectification and acceptance criteria, rectification and acceptance procedures, classification policies and schedules, and other stringent requirements. All districts (counties) and their member units are required to make the connection between the rectification inspection and acceptance and the institution's record filing. In principle, they require “one qualified, one filed for one”, and institutions that have not completed the rectification in strict accordance with the rectification notice, such as the control and compression business scale has not been completed. If the balance of the loan does not fall, the business model does not meet the regulatory requirements, the record will not be filed.
According to the plan, by the end of April 2018, the major P2P network lending institutions within the jurisdiction of Chongqing completed the rectification check and acceptance; for the P2P lending institutions that have a large number of illegal stock business and are difficult to complete timely disposal, they should be completed by the end of May 2018. Disposal and divestment of the corresponding business shall be filed; for individual institutions with extremely difficult and extremely complex circumstances, the relevant work shall be completed no later than June 30, 2018, after the city's rectification office has approved the study.
According to statistics, 35 P2P platforms registered in Chongqing were completed.bankThe custody platform is: Jin Baobao (Chongqing Rural Commercial Bank,Bank of China), Kind of money network (Fujian Bank), Beslye (Fumin Bank), Haihui Loan (Yongfeng Bank), Caiyuan (Fumin Bank), Wenchuanghui (Zheshang Bank), Lending to Xinglong (Zheshang Bank), Multiplier Finance (Fumin Bank), Golden Investment (Fumin Bank), Huijin Investment (Fumin Bank), Pinglian Lending (Huaxing Bank) and Qilu Loan (Fumin Bank) Wait for 12 homes. According to the territorial banks, the aforementioned affluent banks, Zheshang Bank, Huaxing Bank, and Evergrowing Bank are not in compliance with the requirements of the banking financial institutions. That is, the deposits of up to seven P2Ps are compliant, namely Campbell. Bao, Beibei, Caiyuan, Fuyin, Jintou, Huijin and Jiluyi.
One or two in Chongqing
In an interview with a reporter from the China Business Daily, the network loan home director Dean Yu Baicheng said, “Because I did not see any specific official document, the news that came out verbally was that the supervisor asked the local authorities to suspend the issuance of online loan registration details. Rectification and acceptance will continue, and from this analysis, there may be some adjustments to the registration and registration rules in various places, such as the harmonization of rules to prevent arbitrage in different localities.Chongqing's online loan industry itself is relatively small. The program that Chongqing just promulgated is a program consisting of four documents, focusing on rectification and acceptance, and it differs from the detailed rules on filing. Because the relevant supervisory opinions are relatively clear, the companies that have finally passed the filing are those that have been actively rectified and the degree of compliance has been achieved. the company."
The above-mentioned mutual-gold industry sources told reporters that “according to the current situation, at present, Chongqing’s online platform for loans has at most one or two companies left. At least one company is in the background of state-owned assets. Even the last two companies may be merged into one. Except for those left behind, other platforms rely on shareholders to solve the problem, 'Who's got a child who takes the family'. The filing rules should not be consistent across the board, and they will not all be returned to the central authority. After one or two records are filed in Chongqing in advance, they may also be observed first. The follow-up adjustment according to the actual situation."
A relevant person in a Chengdu-based online lending platform told the “China Business” reporter: “Before listening to the industry’s legend, Chongqing would have to wait until it was cleared before it could be filed. Most platforms may not be able to cross this barrier.” According to the reporter’s understanding, the above may remain. A platform on one of the next seven platforms is currently in negotiation with a private equity company to negotiate resale licenses.
The reporter called the Chongqing Financial Office for interviews to verify the relevant issues, and related sources told reporters, "It is not convenient to accept media interviews."
However, Yu Baicheng said: “At present, from a national perspective, most platforms are already on-line bank depository management, but it is not much to satisfy the need for a localized depository platform. Part of the requirement is to achieve localization requirements during rectification and acceptance. It is also possible to require on-line custody but after filing, the Chongqing requirement is to complete the custody of the custody when filing an application, which requires rectification of the non-conforming platform. It has not entered the stage of substantive acceptance."