In 2009, the banking industry day quantity bill financing question emerges the water surface. In the first half of the year, the national banking industry increases the bill to finance 1.7 trillion Yuan, occupies increases the loan completely 23%, craziest January to February, bill financing occupies the ratio to reach as high as 41%. But in the first half of 2009, bill financing occupies compares only 0.2%.
Bill financing Bao Zeng, the people naturally must inquire into its reason. Some experts analyze, at that time the international financial crisis and domestic economy had not come out of the valley under the background, the loan goes to the real economy risk to be big, the bank is willing to turn the fund risk low bill financing. I believe that this viewpoint and present bank bill financing actual situation does not touch on slightly.
Day quantity bill financing bottom of the affair is the bank pursue deposit achievement. Before replying this question, us explained the bill financing concept first. Supposes the enterprise to propose financing to apply to the bank, the bank already may provide the loan, may sign and issue the bank acceptance to the enterprise (bill). The bank acceptance is also one kind of financing tool, the enterprise may be used to pay raw material, commodity and other loans. If enterprise urgently needed cash, but may also take the bill to cash to the bank. The bank had bill cash to call bill financing to the enterprise, calls the discount.
May see from the above bill financing road map that bill financing takes the bank acceptance as the foundation, the bank acceptance are many, bill financing are also many, when production costs rise, prices rise too. At present Chinese Banking industry bank acceptance total quantity is oversized. At the end of 2008, Our country bank acceptance remaining sum approximately 3 trillion, account for the bank loan remaining sum 10%, but Hong Kong commercial bank also less than 2%. Obviously, the bank acceptance total quantity oversized is the day of quantity bill financing immediate cause. Reason that but the bank signs and issues the bank acceptance massively is for the stable deposit. Presently explained with examples: Supposes some enterprise to apply for a half year deadline 10 million Yuan loans to the bank, that the bank may provide 10 million Yuan loans to it directly. But gives 10 million Yuan derived deposits which the bank brings not to stabilize like this, because these derived deposits must reduce along with the enterprise use fund one after another. But the signing and issuing bank acceptance is not so, it will take to the bank 10 million Yuan regular earnest money deposits. The bank signs and issues the bill concrete procedure is: Lets the enterprise stores for 10 million Yuan regular a half year earnest money first, then gives the enterprise to sign and issue a currency value 20 million Yuan bank acceptance again. Like this gave financing of enterprise is still 10 million Yuan (2000-1000), but brought the derived deposit actually became by the current account regular. This is the present bank massive signing and issuing bank acceptance reason. The bank acceptance excessive scale of projects, has laid the foundation for day quantity bill financing.
The bank signs and issues the bank acceptance to be possible to stabilize the deposit, if further handles bill financing, may make the deposit to enlarge one time. Still gave the precedent, if bank again to 10 million Yuan bill financing, then the bank the stable 10 million deposit\’s foundation increased 10 million derived deposits in. At present, many after quite banks use this kind writes a check first, discount the pattern increases the deposit. According to 4 national joint-stock commercial bank typical survey, in the first half of 2009 these 4 bank bill financing grows 125% compared to the beginning of the year, the earnest money deposit grows 166% compared to the beginning of the year. May see from the above that the bank craves in bill financing is not turns the fund certainly the risk low bill, but expands the deposit using the bill service. Since 2009 the banking industry day quantity bill financing reason has lain in this.
What needs to point out that individual bank increases the deposit using the bank acceptance and bill financing, to had reached the pinnacle the degree: After enterprise loan, the loan fund does not let the enterprise use, lets the enterprise paying earnest money completely, then signs and issues the so-called sum total earnest money bank acceptance, finally bank draft in line of business discount. A lender to turn into two loans: Short-term loan and bill financing; Artificially has made two deposits: Earnest money deposit and bill financing derived deposit.
The bank develops the bill service to be irreproachable. But takes receiving the earnest money increases the deposit, signing and issuing and discount not real trade background bill and from the bamboo slip as from pasting, particularly signs and issues the bank acceptance with the loan fund, is seriously violates the national finance laws. When Central Bank as early as refused signed and issued the bank acceptance to the enterprise to receive the high quota earnest money in 1997 on outgoing message, refused the signing and issuing not real trade background bill. A Banking Regulatory Commission\’s official once pointed out that increases the deposit using the bank acceptance and bill financing, externally the bank is inconceivable.
Bill financing false prosperity is enormous to the economical and financial operation harm.
First, has created the statistics of finances data distortion, definitely will affect the monetary authority correct evaluation exchange rate situation and formulation monetary policy. The bank acceptance and bill financing are in flood, saves to loan two prosperous false appearances to the human by the bank, but actually grows must sell at a discount greatly. In the first half of this year loaned grows 7.37 trillion, rejection bill financing, the actual growth had about 6 trillion.
Next, aggravated the enterprises\’ burden. Some enterprises to pay high quota earnest money, have to the urious interest loan fund. Especially in loan – bank acceptance – discount under pattern, the enterprise must pay the loans interest, but must pay the discount interest, the financing cost greatly enhances.
The reverse bill financing chaos, works from the source most importantly, implements the aggregate control to the bank acceptance. Only then implements the aggregate control, the bill financing false prosperity and increases the deposit question to be able using the bill fundamentally to be solved. (Zhao Xiaoguang)
(Origin: Chinese negotiable securities newspaper) (This article originates: Chinese negotiable securities newspaper)