On June 2, the person in charge of the People's Bank of China received an interview from the Financial Times on the issue of taking over the Contractor Bank.
Financial Times reporter: What is the background of taking over the contractor bank? What do you think of the takeover?
Relevant person in charge of the Central Bank: The majority shareholder of the contractor bank is Tomorrow Group, which holds 89% of the total equity of the contractor bank. Because a large amount of funds of the contractor bank are illegally occupied by the major shareholders, it is overdue and difficult to return for a long time, which leads to a serious credit crisis of the contractor bank and triggers the legal acceptance conditions to be taken over according to law.
As far as the takeover of the contractor bank is concerned, it is a case in point, and we need to look at it objectively and calmly. First of all, take-over measures, the conditions are very strict. It is a very serious and prudent act to take over a commercial bank. Only when a commercial bank appears in the situation of Article 64 of the Commercial Bank Law, "Commercial bank has or may have a credit crisis, which seriously affects the interests of depositors", "Banking Supervision Law" Article 38 "may have a credit crisis, which seriously affects the legitimate rights and interests of depositors and other customers", will it seriously damage the legitimate rights and interests of customers, especially deposits, if it does not take over. Only when people's deposits are safe can they be disposed of in this way. Therefore, no administrative takeover is necessary. Secondly, the takeover of contractor banks is strictly carried out in accordance with the law. To guarantee the creditor's rights of all kinds of creditors, we should first have sufficient legal basis. We should respect the contract and encourage market participants to actively perform the contract on the issues of creditor's rights and liabilities, acceptance bills and deposits of margin involved in the protection of creditor's rights of large quantities of creditors. The legal rights and interests of creditors shall be informed according to law. For the signing of agreements on the purchase and transfer of creditor's rights, they shall negotiate equally and sign voluntarily. The creditor's rights which have not been guaranteed in advance will also be retained, and the creditor will participate in the subsequent payment according to law. Thirdly, the degree of protection of the creditors'rights of the contractor bank is relatively high. After the takeover of the contractor bank, the deposit insurance fund and the central bank are used to invest in the acquisition and acceptance, and all kinds of creditors of the contractor bank are fully guaranteed. The principal and interest of individual customers and customers of public and industrial institutions with the amount of 50 million yuan or less are fully guaranteed by 100%. The principal and interest of the same large creditor above 50 million yuan are guaranteed in advance according to the net amount of the creditor's rights. It is estimated that the average guarantee ratio can be about 90%. The above-mentioned safeguard standard guarantees the legitimate rights and interests of all kinds of creditors to the greatest extent. This time, according to the idea of acquisition and acceptance, it is to effectively avoid such problems as direct liquidation and low degree of security. At present, the deposit insurance fund, the central bank's "lender of last resort" support according to law, the implementation of acquisition and acceptance, is a more stable way.
Recently, some people in the market are worried about whether other institutions will be taken over after taking over the contractor bank. Please rest assured that there is no such plan at present. If any institution needs liquidity support or increases capital and shares, it can be completely carried out in a market-oriented way. At present, the financial market is generally abundant in liquidity and the financial risks are generally controllable. We are confident of resolutely maintaining the stability of the financial system.
Financial Times Reporter: How has it been since taking over the contractor bank for a week?
Relevant Leaders of the Central Bank: Since May 24, when the People's Bank of China and the Banking and Insurance Regulatory Commission jointly issued the takeover trusteeship announcement, with the strong support of local governments and relevant departments, the takeover trusteeship work has progressed smoothly. The rights and interests of all kinds of creditors of the contractor bank have been safeguarded: Firstly, 5.2 million individual depositors and more than 200,000 individual financial clients have been fully guaranteed; Secondly, 25,000 households with the amount of creditor's rights below 50 million yuan have been fully guaranteed to their public and trade customers; Thirdly, the acceptance bill of exchange of the contractor bank below 50 million yuan has been fully guaranteed, and more than 50 million yuan has been guaranteed not less than 80 At present, the business of the contractor bank is running normally, the business outlets are in good order, and all kinds of business are handled as usual. In fact, after the takeover, the contractor bank has been strongly guaranteed by the People's Bank of China, the Banking Insurance Regulatory Commission and the Deposit Insurance Fund. Last Friday, the issuance of interbank deposit receipts has been recognized by the market. At present, the signing of agreements on the purchase and transfer of large amounts of creditor's rights is progressing in an orderly manner.
