The central bank: government-subsidized rental housing loans will not be included in the real estate loan concentration management

2022-06-13 0 By

On February 8, the People’s Bank of China and the China Banking and Insurance Regulatory Commission issued a notice on the exclusion of loans related to low-income rental housing from the real estate loan concentration management.The full text is as follows: Shanghai Headquarters of the People’s Bank of China, branches, Operation Offices, sub-branches in the capital cities of each province and sub-sub-branches in the capital cities of each province;The banking regulatory bureaus;China Development Bank, policy banks, State-owned commercial banks, Postal Savings Bank of China, Joint-stock Commercial Banks:In order to implement the decisions and arrangements of the CPC Central Committee and The State Council on supporting the development of Affordable Rental Housing, in accordance with the requirements of The Opinions of The General Office of the State Council on Accelerating the Development of Affordable Rental Housing (No. 22, 2021), the relevant work is hereby notified as follows:1. As of the date of the issuance of this Circular, the relevant loans granted by banking financial institutions to the affordable rental housing projects holding the written confirmation of the affordable rental housing projects will not be included in the real estate loan concentration management.2. Banking financial institutions should increase their support for low-income rental housing and provide financial products and services in accordance with the principles of legal compliance, controllable risks and sustainable business.Banking financial institutions shall strictly implement the relevant statistical systems of the People’s Bank of China and the CBRC to ensure the authenticity and accuracy of data.This notice applies to the banking financial institutions that implement the real estate loan concentration management system.The Shanghai headquarters of the People’s Bank of China, all branches, operation offices, sub-branches in the city centers of provincial capitals and sub-sub-branches in the city centers of provincial capitals shall forward this notice to the branches of the People’s Bank of China, urban commercial banks, rural commercial banks, rural cooperative banks, rural credit cooperatives, rural rural banks and private banks within their jurisdiction.Each BANKING regulatory bureau is requested to forward this notice to each banking regulatory branch within its jurisdiction.People’s Bank of China Banking Insurance Regulatory Commission January 30, 2022