Take stock of the central bank’s financial risks in 2023 ｜ ③ key areas and resolve them steadily.

2024年1月18日 | admin | sports

—— January 2, 2024 [CCTV] Focus interview, new deployment and new actions

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People’s Republic of China (PRC) Financial Stability Law (Draft) was reviewed by the National People’s Congress Standing Committee (NPCSC) and publicly solicited opinions. set up；establishFinancial stability guarantee fundThe basic framework has been initially established and some funds have been accumulated.

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Establish and improve the financial stability index, financial stability monitoring and evaluation index system and financial stability questionnaire surveyFinancial stability monitoring and evaluation system.

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Improve the central bank’s financial institution rating, bank risk monitoring and early warning, bank asset quality on-site assessment, stress testing and other monitoring and evaluation frameworks, and riskEarly identification, early warning, early exposure and early disposal.

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Give play to deposit insurancePrevention of bank run, differential rate, early correction and risk disposalCore functions such as.

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Financial support for local debt

Risk resolution

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Conscientiously implement the spirit of the CPC Central Committee and the State Council on preventing and resolving risks in key areas, and make overall plansCoordinating finance to support local debt risk resolutionWork, enrich the prevention and resolution of debt risksTools and means, strengthenRisk monitoring, assessment and prevention and control mechanism, promote risk disposal in key areas, and firmly hold the bottom line of no systemic risks.

Strict financial discipline, promote the adoption of local governments and financing platforms.Revitalize or sell assetsAnd other ways to raise resources to repay debts.

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For areas with relatively heavy debt burden, new government investment projects will be strictly controlled.

Guide financial institutions to negotiate with financing platforms on an equal footing in accordance with the principles of marketization and rule of law.Extension, borrowing new and returning old, replacementIn other ways, classify policies to resolve the risk of stock debt, strictly control incremental debt, and establish a normalized financial debt monitoring mechanism for financing platforms. When necessary, the People’s Bank of China will also provide emergency liquidity loan support to areas with relatively heavy debt burden.

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Classified policy to solve the stock

Debt risk

Strictly control incremental debt

Establish a normalized financing platform

Financial debt monitoring mechanism

Support local governments to gradually divest the government financing function of the financing platform through mergers and acquisitions, asset injection, etc., and transform into a market-oriented enterprise that is independent of government credit and financially sustainable.

Related news links in 2023-Financial risks in key areas will be steadily resolved

February:

The People’s Bank of China, China Banking and Insurance Regulatory Commission, China issued the Measures for the Risk Classification of Financial Assets of Commercial Banks (with a reporter’s question)

March:

The People’s Bank of China held a working conference on financial stability in 2023.

April:

Important achievements have been made in preventing and resolving financial risks

May:

The Eighth Anniversary of the Implementation of the Deposit Insurance Regulations | Six Questions and Six Answers on Deposit Insurance

eightMonth:

China People’s Bank, General Administration of Financial Supervision, China Securities Regulatory Commission jointly held a video conference on financial support for the real economy and prevention and resolution of financial risks.

November:

[Xinhua News Agency] Authoritative Interview | Insist on Serving the Real Economy and Keeping the Bottom Line of Financial Risks —— Interview with Pan Gongsheng, Governor of the People’s Bank of China and Director of the State Administration of Foreign Exchange.

[CCTV] Minister of Economic Hotspots talks about the overall controllable risks of real estate finance and local debt.

[CCTV] Authoritative Interview | Monetary Policy, Exchange Rate and Financial Risk: How Central Bank Governors Respond to Financial Hotspots

[Column] Effectively Prevent and Resolve Financial Risks and Firmly Hold the Bottom Line of No Systematic Risks.