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Bank Islam Malaysia Bhd has launched iTEKAD micro-financing programme for micro-entrepreneurs and those affected by the loss of income due to Covid-19.

Bank Islam said the programme offers seed capital with an affordable micro-financing arrangement for eligible applicants to start and grow their business to generate sustainable income.

In addition to the funding of working capital, iTEKAD will use the zakat fund for the purchase of tools and equipment required for eligible recipients.

“iTEKAD also involves collaborations with selected implementation partners such as State Islamic Religious Councils, agencies and non-government organisations.

“As the pioneering participating Islamic financial institution, Bank Islam will be working together with Majlis Agama Islam Wilayah Persekutuan (MAIWP) and SME Corp Malaysia in the first phase of the programme,” it said today.

Through the collaboration, Bank Islam said, recipients would receive structured entrepreneurship and financial management training.

This is to ensure they receive a more holistic understanding, skills and knowledge in managing their business efficiently and sustainably.

Minister in the Prime Minister’s Department (Religious Affairs) Datuk Seri Dr Zulkifli Mohamad al-Bakri said iTEKAD was an avenue to assist the B40 micro-entrepreneurs and asnaf who are greatly affected by the Covid-19 pandemic.

Bank Islam chief executive officer Mohd Muazzam Mohamed said iTEKAD wad parallel to its values in enhancing the wellbeing of the people through the preservation of wealth, lives, prosperity and intellect.

Mohd Muazzam said it was also in line with the Value-Based Intermediation philosophy, thus further fortifying banks’ commitment in supporting small businesses.

“Bank Islam is allocating RM5 million from Bank Negara Mslaysia’s Micro-Enterprise Facility Fund for this microfinancing programme.

“Eligible applicants that adhere to the asnaf criteria guided by Shariah rules and principles will benefit from a provision of RM300,000 Zakat fund of Bank Islam,” he said.

He said the first phase of the programme was expected to benefit 100 recipients by the end of the year.

The bank has received 14 number of applications, mainly from micro-entrepreneurs in food and beverages, manufacturing and services sectors In Wilayah Persekutuan.

“The selected participants will be undergoing training under SME Corp beginning July,” he added.

Investors in US business mortgage-backed safety and securities are supporting themselves for losses as the coronavirus pandemic pressures proprietors of shopping centers, resorts, workplace towers and also various other homes to avoid repayments.

More than $45 bn of mortgage packed right into US CMBS are past due and also were in supposed moratorium in April, S&P Global stated onTuesday

Analysts with S&P, the nation’s biggest credit scores ranking firm, projection that 10 percent of home loans in US CMBS bargains might fall under misbehavior in May if those in their moratorium remain to go unsettled. In April that share was much less than 2 percent.

“The measures adopted to contain Covid-19 have pushed the global economy into recession and could cause a surge of defaults,” stated Ambika Garg and also Tamara Hoffman, experts at S&P.

Details on financing repayments that have actually fallen back, consisting of those that are much less than one month unpaid, are currently being carefully complied with by investors aiming to comprehend the damages brought upon by the closures and also sanctuary-in- area orders that have actually been enforced as US authorities tried to reduce the spread of the infection.

The moratorium cover home loans that are much less than 30 days late in addition to repayments that have actually not yet been accumulated by the time the home loan servicer releases its month-to-month record to investors.

Since March, resort reservations have actually broken down while dining establishments and also sellers in rural shopping center and also shopping center have actually shut their doors. Only in current days have actually some firms started to resume on a minimized basis. Many services have actually transferred to preserve money and also have actually rejected to pay rental fee.

“We have seen a significant ramp-up in loans not only in special servicing but in a grace period over a short period of time,” stated Sagar Parikh, a securitised items investor at possession supervisor TCW. “It’s our expectancy that the numbers will certainly grab [in] May based upon what we saw from. the forbearance demands.”

S&P stated on Tuesday that 91 finances worth $2bn were recently overdue, with past-due home loans on resorts accounting for virtually fifty percent of the number. The ranking firm approximated those finances raised the general delinquencies in CMBS deals to $9.8 bn.

Lower- ranked tranches of CMBS have actually rolled in worth. The safety and securities, which are cut to offer investors differing levels of direct exposure to the prospective default on the hidden home loans, have actually sunk because late February when worries bordering coronavirus initially struck US monetary markets.

A record dispersed on Tuesday to investors in a CMBS structured by Citigroup in 2012 emphasized the quick spread ofdelinquencies Figures revealed that 6 of the 46 finances underpinning the offer lagged settlement in very early May, up from 3 in the previous month.

新疆维吾尔自治区库车县人民法院
刑事判决书

（2019）新2923刑初1142号
公诉机关库车县人民检察院。
被告人许世平，男，1965年10月24日出生，汉族，住新疆柯坪县。被告人许世平因涉嫌贷款诈骗罪，于2018年9月3日被库车县公安局刑事拘留，同年10月3日被逮捕。现羁押于库车县看守所。
辩护人袁世东，新疆制衡律师事务所律师。
被告人尹海岩，男，1973年7月8日出生，汉族，住新疆库车县。被告人尹海岩因涉嫌违法发放贷款罪，于2018年11月10日被库车县公安局刑事拘留，同年11月19日被逮捕。现羁押于库车县看守所。
辩护人史晓燕，新疆典赞律师事务所律师。
辩护人罗勇，新疆典赞律师事务所律师。
被告人陈雯，女，1985年9月10日出生，汉族，住库车县。被告人陈雯因涉嫌违法发放贷款罪，于2018年11月10日被库车县公安局刑事拘留，同年11月20日被库车县公安局取保候审，2019年5月16日被本院决定取保候审。
库车县人民检察院以库检公诉刑诉（2019）1090号起诉书指控被告人许世平涉嫌贷款诈骗罪，被告人尹海岩、陈雯涉嫌违法发放贷款罪，于2019年5月16日向本院提起公诉，本院依法组成合议庭，公开开庭审理了本案。库车县人民检察院检察员朱晓文、郭保才出庭支持公诉，被告人许世平及其辩护人袁世东，被告人尹海岩及其辩护人史晓燕，被告人陈雯到庭参加了诉讼。现已审理终结。
库车县人民检察院指控，2015年3月期间，被告人许世平联系到××县银行副行长尹海岩，向尹海岩提出贷款要求，尹海岩明知许世平不符合库车县国民村镇银行贷款条件，但其违反国家有关规定，积极为许世平办理贷款，找到与其任职银行有贷款业务的库车县亿丰农资有限责任公司负责人李某和会计王某，要求其二人帮许世平冒名贷款，并指使该银行小微企业贷款业务部副总经理陈雯为许世平办理具体贷款事宜，在尹海岩的授意下，陈雯等人编造由王某以生产经营购买磷酸二铵为借款用途的借款人，许世平以其位于温宿县依希来木其乡1200亩土地承包合同做抵押，于2015年4月3日从库车县国民村镇银行贷款200万元。2015年4月7日、4月14日，王某根据陈雯的要求，将195万元贷款转账给许世平持有的银行卡内，该195万元贷款大部分被许世平用于偿还个人债务，许世平仅支付利息134021.34元，剩余贷款未偿还，给银行造成本金200万元及剩余利息损失。
针对上述指控公诉机关出示了书证、证人证言、被告人供述与辩解、勘验、检查、辨认笔录等证据，认为被告人许世平的行为触犯了《中华人民共和国刑法》第一百九十三条之规定，对被告人许世平应当以贷款诈骗罪追究其刑事责任。被告人尹海岩、陈雯的行为触犯了《中华人民共和国刑法》第一百八十六条之规定，对被告人尹海岩、陈雯应当以违法发放贷款罪追究其刑事责任。根据《中华人民共和国刑事诉讼法》第一百七十六条第一款的规定，提起公诉，请求判处。
被告人许世平辩称，对起诉书指控的犯罪事实和罪名无异议。
其辩护人袁世东提出如下辩护意见，1、被告人许世平归案后具有坦白情节，认罪态度好，在庭前与公诉机关达成认罪认罚具结悔过协议，应依法减轻处罚；2、在客观方面，被告人许世平巨额债务来源于非法高利贷的债台，其本人是非法高利贷借款的直接受害人，许世平虽有用钱需求，但具体贷款方案及相关资料并非其本人虚构编造；3、被告人许世平系首犯、初犯。综上，建议对被告人许世平减轻量刑。
被告人尹海岩辩称，对罪名无异议，对事实需要补充，1、2015年3月我和许世平还不认识，是经许世平的小舅子介绍认识的。2、我并没有积极为许世平办理贷款，是许世平的小舅子多次找我，我才办的，银行有贷款任务指标，我是在担保物足值的情况下办理的。3、我只是联系了李某，我不认识王某，我没有直接和王某见面。4、冒名贷款用词不准确，应该用借名贷款，许世平和王某都是知情的。5、王某和李某说的事实不相符，借款人用于什么用途我不知情，具体操作我也干涉不了。6、当时我们是按照银行的程序进行调查，当地政府和许世平共同欺骗银行和我，我也是受害者，土地作为确权的材料，乡政府负有责任，我们银行只是审核材料，我们银行没有辨别真伪的权利。
其辩护人史晓燕提出如下辩护意见，1、被告人尹海岩的行为不违反相关法律规定，本案缺乏事实和法律依据；2、虽然辩护人认为被告人尹海岩不够成犯罪，但被告人尹海岩自己认罪。被告人尹海岩和陈雯在案件中所起的作用和行为，无法区分主从犯。被告人尹海岩存在自首情节，因此建议在一年半基准刑基础上量刑并适用缓刑。
被告人陈雯辩称，对指控的犯罪事实和罪名无异议，关于是否受益，报告是杜某写的，尹海岩安排我，我才照做的，尹海岩是受益的。
经审理查明，公诉机关指控被告人许世平犯贷款诈骗罪，被告人尹海岩、陈雯犯违法发放贷款罪的事实清楚，证据确实充分，并经当庭质证，本院予以确认。
上述事实有以下经过庭审质证的证据予以证实：
第一组证据：书证。
（1）受案登记表、立案决定书。
证实：本案受理、立案经过。
（2）被告人许世平常住人口信息、在逃人员登记表、到案经过。
证实：被告人许世平个人基本情况；许世平因涉嫌贷款诈骗于2018年7月5日被网上追逃，2018年9月3日，许世平被库车县公安局抓获归案的事实。
（3）被告人尹海岩常住人口信息、到案经过。
证实：2018年11月9日，被告人尹海岩主动到案接受调查及其个人基本情况的事实。
（4）被告人陈雯常住人口信息、到案经过。
证实：2018年11月12日，被告人陈雯主动到案接受调查及其个人基本情况的事实。
（5）接受证据材料清单、经过说明。
证实：接收内有李某和陈雯、尹海岩通话录音的光盘一张及许世平书写案件经过的事实。
（6）营业执照、金融许可证、法定代表人身份证明书。
证实：库车县国民村镇银行资质及其法定代表人身份的事实。
（7）小微企业贷款业务部及三农贷款业务部范围。
证实：小微企业贷款业务部及三农贷款业务部的业务范围的事实。
（8）库车国民村镇银行有限责任公司文件。
证实：关于任命尹海岩为库车国民村镇银行副行长及分管综合管理部、风险管理及稽审部、小微企业贷款业务部和华能支行的事实。
（9）阿克苏监管分局文件。
证实：阿克苏监管分局关于尹海岩任职库车国民村镇银行副行长资格的批复的事实。
（10）库车国民村镇银行董事会决议。
证实：董事会通过关于选举尹海岩为库车国民村镇银行副行长的事实。
（11）劳动合同书。
证实：2013年7月1日，库车国民村镇银行与陈雯签订劳动合同的事实。
（12）库车国民村镇银行有限责任公司文件。
证实：关于任命陈雯为库车国民村镇银行业务发展部临时负责人、小微企业贷款业务部副总经理、华能支行行长的事实。
（13）王某利息清单明细。
证实：截止2018年9月2日借款人王某应偿付库车县国民村镇银行贷款本金200万元，利息1021750.16元，已付利息134021.34元。尚欠库车县国民村镇银行贷款本金200万元整，利息887728.82元的事实。
（14）接受证据材料清单、授权委托书。
证实：黄某1受委托接收王某的贷款资料及王某的银行交易明细的事实。
（15）库车国民村镇银行个人客户信贷资料、借款借据、还款计划书、自然人信贷业务客户资料目录清单。
证实：王某向库车国民村镇银行贷款200万元的事实。
（16）自然人第三方抵押信贷调查报告。
证实：借款人王某因购买磷酸二铵，自有资金不足，向库车国民村镇银行贷款200万元，此笔贷款由许世平位于温宿县依希来木其乡1200亩土地承包经营权抵押担保的事实。
（17）库车国民村镇银行储蓄存款凭证复印件、账户明细。
证实：2015年4月7日，王某库车国民村镇银行营业部账号向黄某2中国银行阿克苏分行账号转账95万元的事实；2015年4月7日，王某库车国民村镇银行营业部账号向黄丽梅中国农业银行阿克苏分行账号转账95万元的事实；2015年4月14日，王某账号向黄丽梅中国农业银行阿克苏分行账号转账100万元的事实；2016年1月4日，李某向王某转账43763.89元的事实。
（18）调取证据通知书。
证实：库车县公安局向库车县农业银行调取黄丽梅在2015年4月15日交易80万元的相关资料及其2015年3月以来交易明细的事实。
（19）个人账户交易明细表。
证实：2015年4月7日库车国民村镇银行有限责任公司向王某转账95万元及2015年4月14日库车国民村镇银行有限责任公司向王某转账100万元的事实。
（20）库车国民村镇银行营业部对私账户明细、库车国民村镇银行储蓄存款凭条。
证实：王某向库车国民村镇银行转账偿还贷款利息的事实。
（21）数据提取截图2张。
证实：2015年4月2日，李某在库车县农村信用合作联社天山东路信用社账号向王某账户转账200万元的事实。
（22）发还清单1份。
证实：2018年12月5日，黄某2向库车国民村镇银行退还8万元的事实。
（23）2013年7月14日，温宿县农村信用联社与温宿县振兴农场（法定代表人许世平）签订金额为400万元、借款期限为3年的流动资金借款合同1份、农村信用社借款抵押合同1份、温宿县依希来木乡果园承包合同书1份、温宿县人民法院民事调解书1份。各地方法院对许世平下的法律文书。
证实：多份法律文书证实许世平有2000万元左右的债务。
第二组证据：证人证言
（1）证人黄某1证言。
证实：①因许世平不符合贷款主体资格要求，在尹行长职权的干涉下，王某以购买磷酸二铵资金不足为由骗取贷款，以许世平名下1200亩土地承包经营权作为抵押，采用“借户贷款”的方式，以王某的名义向库车国民村镇银行贷款200万元，库车国民村镇银行向王某发放200万信贷资金，该资金实际由许世平使用。贷款到期后，许世平、王某并未及时归还贷款本息的事实；②库车国民村镇银行起诉至库车县法院，判决生效后申请强制执行，经核查王某并无可供执行的财产，经对抵押土地进行调查发现许世平名下1200亩土地承包经营权因多重抵押，抵押物被其余债权人分割，库车国民村镇银行未参与分配的事实。③黄某1陈述按照要求大额的贷款发放要采用受托支付的方式，王某的贷款下来以后，王某与库车国民村镇银行签订委托支付协议，委托受托支付账户库车国民村镇银行将贷款发放至约定的账户云南云天化股份有限公司账户，之后李某将200万元转入王某的银行卡，这中间应该是为了倒账的事实。
（2）证人王某证言。
证实：①库车国民村镇银行副行长尹海岩和贷款部业务经理陈雯让王某办理的一笔贷款金额为200万元的借名贷款，该款以许世平名下1200亩土地承包经营权作为抵押，其实际使用人是许世平的事实；②王某按照陈雯经理的吩咐将95万和100万分两次转入黄丽梅的账户中，剩余5万作为第一季度的利息留在王某卡里，前后还了三个季度的利息，每个季度利息都是43763.89元，没有偿还本金的事实。③在第四季度利息没有按时偿还的情况下，王某得知许世平的承包地已被别的银行执行，遂通过法院仲裁手段把贷款的债权仲裁到许世平名下的事实。④据王某陈述按照银行的规定200万的贷款要走受托支付的方式，先受托支付到云南云天化股份有限公司，因为云南云天化股份有限公司和李某的公司有长期的业务往来，当时李某公司确实要向云南云天化股份有限公司购买化肥，就用该200万元购买化肥了，之后李某从他自己的银行卡又给王某的账号转去200万元的事实；⑤贷款的发放流程是尹海岩安排的，为了确保贷款用途真实，上级检查时不被发现。⑥以王某名义贷的200万元打到云天化公司，是为了倒账，公司不需要这笔贷款，200万元贷款和货物没有关系。
（3）证人李某证言。
证实：①库车县国民村镇银行以王某的名义帮许世平办理了200万元的借名贷款，该款项以许世平名下1200亩土地承包经营权作为抵押且借款第三季度的利息由李某垫付4万余元的事实。②李某提供内有李某、陈雯和尹海岩通话录音的光盘，内容反映的是：许世平贷款的事情，尹海岩会负责到底，如果许世平还不上，他会自己还掉的事实。③尹海岩、陈雯让李某帮忙贷款，因李某本身有贷款，无法再贷款，是以王某名义贷款200万元，实际使用人是许世平，是尹海岩出的主意安排王某贷的款，贷款要走对公账户所以王某200万贷款打给云天化公司，是为了倒账，200万元货物跟贷款无关，不存在买200万货的问题。
（4）证人杜某证言。
证实：①王某以许世平的1200亩土地承包经营权作为抵押，在库车国民村镇银行贷款200万元，目前已还三个季度的利息，未偿还本金的事实；②2016年2月份，库车国民村镇银行将王某和许世平起诉至库车法院，法院判决由许世平偿还200万元及利息并对许世平抵押土地进行调查发现其名下1200亩土地承包经营权已进行多重抵押的事实。
（5）证人张某证言。
证实：①王某在库车国民村镇银行贷款提交的纸质资料是张某进行审查的，资料中反映的贷款人是王某，担保人是许世平，且许世平用他位于温宿的承包土地做抵押，资料中的各项信息完善，符合贷款条件的事实；②张某在资料审核过程中并不知晓该笔贷款的实际使用人是许世平的事实；③王某的这笔贷款属于小微企业贷款业务部的贷款，小微企业贷款业务部负责人是尹海岩的事实。
（6）证人庄某证言。
证实：①庄某陈述库车国民村镇银行的小微企业部、农贷部和信贷部的关系及贷款的调查、审批和发放流程的事实；②庄某在贷款发放的时候，不知道该笔贷款的实际使用人是许世平且明确表态像这种冒名贷款如果贷审会成员提前知道是不可能通过贷审会的事实。
（7）证人黄某2证言。
证实：①黄某2在××县银行贷款200万元的事情中牵线搭桥的事实；②黄某2在许世平贷款放下来之后向他借过8万元用于父亲看病，至今未还的事实。
第四组证据：被告人的供述与辩解。
（1）被告人许世平供述：
证实：①许世平通过欺骗彭建军乡长其之前用地抵押的贷款全部还清，再次将1200亩土地用于抵押贷款并将贷款的200万用于还账和日常开支的事实；②许世平在库车国民村镇银行贷款之前，已将1200亩果园地多次、重复抵押给他人借款的事实；③2015年8月份，因许世平在温宿县人民法院的民事案件需要执行其抵押财产，该1200亩果园地被许世平的其余债权人分割，期间没有给库车国民村镇银行通知，导致至今未还库车国民村镇银行的200万元贷款的事实。贷款下来之后，库车国民村镇银行先打款给王某，王某分95万和100万，两次转入许世平的女友黄丽梅的账户中，剩余5万作为第一季度的利息，第二季度利息是尹海岩偿还的，第三季度利息是李某偿还的，至今没有偿还本金的事实；在从库车国民村镇银行贷款之前，许世平用土地抵押贷款有1000多万，尚欠外债500万左右的事实；许世平和陈雯在办理贷款业务时并不知道王某是借款人，许世平是担保人的事实。
（2）被告人尹海岩供述：
证实：①许世平向库车国民村镇银行抵押土地，以王某的名义贷款200万元，该笔贷款的发放存在借名贷款，这笔贷款的办理是尹海岩安排的事实；②尹海岩在该笔贷款上贷审会的时候没有给其他贷审会成员说过借款人是王某，实际使用人是许世平的事实。尹海岩在担任库车国民村镇银行副行长期间，与陈雯和杜某一起参与违法发放贷款的事实，且尹海岩在发放这笔贷款中并未收受贿赂的事实。③尹海岩为了完成业务指标安排陈雯等人帮助许世平从国民村镇银行贷款且愿意将其在银行的股本金45万元作为未来银行取得的收益来赔偿的事实。
（3）被告人陈雯供述。
证实：①陈雯按照尹海岩的安排用许世平土地作为抵押，以王某的名义办理200万贷款的事实；知道这笔贷款是借名贷款，贷款的实际贷款人是许世平，不是王某的事实。
第四组证据：勘验、检查、辨认等笔录。
证实：本案被害人对被告人的辨认等事实。
上述证据来源合法、内容客观、真实，并能相互印证，本院予以确认。
本院认为，被告人许世平以非法占有为目的，明知自己没有还款能力，隐瞒其身负巨额债务和抵押物已多次抵押给他人的真相，超出抵押物价值重复担保，诈骗银行贷款，用于偿还债务，数额特别巨大，其行为触犯了《中华人民共和国刑法》第一百九十三条之规定，已构成贷款诈骗罪。库车县人民检察院指控被告人许世平犯罪事实清楚，证据确实充分，指控罪名成立，本院予以支持。鉴于被告人许世平具有坦白情节，自愿认罪，本院依法对其从轻处罚。
被告人尹海岩、陈雯身为库车县国民村镇银行的副行长、信贷部副经理，明知许世平不符合贷款条件，仍然违反国家规定发放贷款，数额巨大，给银行造成重大损失，其行为触犯了《中华人民共和国刑法》第一百八十六条之规定，已构成违法发放贷款罪。库车县人民检察院指控被告人尹海岩、陈雯犯罪事实清楚，证据确实充分，指控罪名成立，本院予以支持。鉴于被告人尹海岩、陈雯经电话传唤到案后如实供述犯罪事实，系自首，本院依法对其从轻处罚。被告人陈雯受尹海岩授意实施了违法发放贷款的具体行为，在本案中所起的作用较小，本院酌情对其从轻处罚。
综上，依照《中华人民共和国刑法》第一百九十三条、第一百八十六条、第七十二条、第七十三条、第六十七条第一款、第六十七条第三款、第六十四条之规定，判决如下：
一、被告人许世平犯贷款诈骗罪，判处有期徒刑十一年，并处罚金人民币100000元。
（刑期从判决执行之日起计算。判决执行以前先行羁押的，羁押一日折抵刑期一日，即自2018年9月3日起至2029年9月2日止。罚金于判决生效之日起十五日内缴纳。）
二、被告人尹海岩犯违法发放贷款罪，判处有期徒刑二年，并处罚金人民币50000元。
（刑期从判决执行之日起计算。判决执行以前先行羁押的，羁押一日折抵刑期一日，即自2018年11月10日起至2020年11月9日止。罚金于判决生效之日起十五日内缴纳。）
三、被告人陈雯犯违法发放贷款罪，判处有期徒刑一年零六个月，缓刑二年，并处罚金人民币40000元。
（缓刑考验期，从判决确定之日起计算。罚金于判决生效之日起十五日内缴纳。）
四、对被告人许世平贷款诈骗所得2000000元及应付利息887728.82元（利息截止：2018年9月2日）予以追缴，返还被害人。
如不服本判决，可在接到判决书的第二日起十日内，通过本院或者直接向阿克苏地区中级人民法院提出上诉。书面上诉的，应当提交上诉状正本一份、副本六份。

审　判　长 冀俊齐
审　判　员 米晓玲
审　判　员 蒋　梅
人民陪审员 赵永胜
人民陪审员 田颜平
人民陪审员 熊小娟
人民陪审员 刘　玲
二〇一九年十二月三日
书　记　员 陈广杰

Maintaining that the combined fiscal deficit of the Centre and states may go up to 13-14 per cent this fiscal, former RBI Governor Duvvuri Subbarao on Sunday said the financial stimulus announced by the Centre on March 26 on account of lockdown to contain spread of Covid-19, is “not sufficient”.

Speaking at a webinar titled “The Challenge of the Corona Crisis – Economic Dimensions”, organised by the city-based Manthan Foundation, Subbarao said the Centre needs to cap its borrowings as the open-ended borrowings will have negative consequences such as pushing interest rates high.

“The government announced the fiscal support package of 0.8 per cent of the GDP. Is that sufficient? No, it is not sufficient when it was announced on March 26. It looks even lesser now. In fact, the government needs to spend more. And spend more on three things. The first item of expenditure is to enlarge and expand the livelihood support,” Subbarao said.

He said that since March 24, when the lockdown was imposed nationwide, millions of households have become vulnerable and therefore livelihood support has to be extended to many more families as most of their savings have dried up.

“The government needs to cover more households, give more per household and give for much longer per household. That is the first challenge on the government expenditure,” he said.

The Finance Ministry unveiled a Rs 1.70 lakh crore economic package on March 26 involving free food grain and cooking gas for the poor for the next three months.

Subbarao said it is quite clear that the government needs to spend more as it is a moral and political imperative. In order to spend more, the government needs to borrow more. He said he disagreed with the view that since this is an extraordinary and unusual crisis, therefore the government should not tie itself by setting up borrowing limits.

“The combined fiscal deficit of the centre and state governments for this fiscal year as budgeted is 6.5 per cent of the GDP. Because of the loss of revenue on account of the lockdown, because of the decline in the nominal GDP on account of the lockdown, the fiscal deficit will go beyond 10 per cent of the GDP. The additional borrowings will now take the fiscal deficit to the range of 13 to 14 per cent of the GDP. That is exceedingly high and will have all the negative consequences of high fiscal deficit,” he opined.

According to him, the domestic financial sector, which is under deep stress, will be under “deeper stress” by the time the Covid-19 crisis ends, though he sees some silver linings in the situation such as plummeting crude prices and bumper agri-yield.

Stressing that the world has to live with coronavirus for some time, Subbarao said both centre and states are working in tandem to contain the pandemic.

“The dilemma (of lives and livelihood) is the sharpest for India, given our weak medical infrastructure and high population density. Any gaps in prevention can mean loss of millions of lives. On the other hand, a stringent lockdown to control the pandemic can mean millions of livelihoods. This is a very difficult balancing act. Particularly for India, as our economy is in bad shape, Subbarao said.

Commercial banks here are raising their voices against what they consider “near-sighted” financial policies by the government, as the authorities demand lenders cooperate with strong sets of pump-priming measures to prop up the virus-hit economy.

Officials from major Korean lenders said the government needs to take a longer-term viewpoint when devising financial policies even amid the global economic crisis sparked by the COVID-19 pandemic.

Even if top-tier lenders here reported relatively decent earnings in the first quarter of 2020, they may continue being exposed to concerns over their asset soundness if the government keeps introducing stimulus packages at the cost of the financial institutions, a top-ranking official from one of the nation’s major commercial banks said.

“Despite the better-than-expected first-quarter earnings, we still have a sense of concern due to the government’s short-sighted financial policies under which lenders have to offer more loans to the self-employed and allow individual investors to pay their interest rates later,” the official said.

Starting from as early as 2021, most lenders here are expected to suffer earnings shocks following the government’s makeshift stimulus measures, he noted.

Global ratings companies ― such as Moody’s and Fitch Ratings ― have expressed similar concerns over the lenders.

“Fitch Ratings’ assessment of intrinsic creditworthiness of Korea’s four large commercial banks has turned negative due to mounting pressure on the banks’ operating environment, asset quality and profitability that stems from the severe disruption to economic activities globally in the wake of the coronavirus pandemic,” the ratings firm said in a statement Monday.

“As a result, Fitch has revised the rating outlooks on KB Kookmin Bank and Shinhan Bank to ‘Negative’ from ‘Stable,’” it said.

Fitch also pointed out that the negative outlook came as the lenders’ creditworthiness would be put under “mounting pressure” over the next two years due to measures to contain the coronavirus outbreak here.

Cooperation amid crisis

But economists here are urging the lenders to “stop whining about” the government’s call to comply with its market stimulus drive.

“The coronavirus-induced economic shock was unexpected, so it is natural for the government to take what might seem immature financial policies to take care of urgent problems one by one, which cannot satisfy all interested parties,” DB Financial Investment economist Lee Byung-gun said.

On top of that, the status quo is not something limited to Korea, according to the analyst.

“Most financial organizations ― such as banks ― in most developed nations are eager to join their governments’ stimulus measures to tackle the crisis,” he said.

“This is not a matter of unilateral sacrifice from the commercial banks,” he said. “Lenders can get back what they offered ― such as loans ― sometime later. They may not welcome the government’s movement, as this may have put a brake on their business plans, but my view is that they need to join hands with the authorities in this unexpected crisis.”

Yonsei University economist Sung Tae-yoon said the government, for its part, should also play a proper “mediating role” between virus-hit parties and banks.

“The financial authorities are advised to offer an incentive package to lenders … after the virus panic ends,” he said.

“Any one-sided demand is not desirable even in a time of crisis, as commercial banks are not state-run organizations, but companies with shareholders,” he said.

A group of four banks led by Citigroup faces a loss of nearly $ 100 million after selling part of a loan guaranteed by two Las Vegas casinos, a sign that the banks are eager to dispose of the assets affected by the pandemic, even with big discounts.
Citi, Deutsche Bank, Barclays and Societe Generale loaned $ 3 billion to MGM Growth Properties – owner of MGM Grand and Mandalay Bay casinos on the famous Las Vegas Strip – in February, shortly after MGM sold 49.9 % ownership of properties in Blackstone, according to regulatory filings.

The four banks intended to use the loan to support a $ 1.9 billion deal in the commercial mortgage-backed securities market, but a strong sale triggered by the Covid-19 epidemic shocked these plans, according to people familiar with the agreement.

Instead, banks sold the two lowest-rated tranches of a revised deal to investors with a big discount this week.

The triple B-rated debt tranche priced at 83 cents on the dollar while the riskier, double-rated B tranche only returned 77 cents, according to people. Together, the tranches amounted to $ 534 million. This equates to a loss to the banks of approximately $ 99 million on the face value of the debt.

Citi has written 40% of the original loan on its balance sheet, while the other banks have each taken a 20% share, according to two people familiar with the arrangement.

Banks still have close to $ 2.5 billion of original loan on their balance sheet and hope to sell the highest rated tranches of the CMBS deal once markets stabilize and economic conditions improve, said people familiar with the plans.

The lowest rated CMBS tranches are generally sold at a discount, offset by a premium received on the highest rated tranches. But investors and those involved in the MGM deal said the banks’ chances of recovering the total amount lost during this week’s sale are slim.

“At this point, the loan was made, so the damage was done,” said a banker involved in the transaction.

The bankers also noted that the original loan may have been hedged to offset the risk of a fall in value, but did not provide further details.

Wells Fargo on Tuesday disclosed that federal and state authorities are investigating its lending practices under a key small business relief effort to combat the economic damage from the novel coronavirus.

Wells Fargo did not offer details on the probes, saying only that government agencies are looking into loans it made through the government’s $660 billion Paycheck Protection Program, or PPP, which offers forgivable 1% interest loans to businesses with fewer than 500 workers. The banking giant also said that some of the inquires have progressed to the formal stage. Wells Fargo made the disclosure in its quarterly earnings filing with the Securities and Exchange Commission.

Wells Fargo has come under fire for its limited participation in the government’s small business relief program. Just days after the program launched last month, the company announced it would no longer accept applications, in part because the Federal Reserve had capped how many loans it could make as punishment for past banking practices.

The U.S. central bank in 2018 limited the amount of loans Wells Fargo can make after the bank was earlier revealed to have created millions of phony accounts, as well as committed a string of other consumer abuses.

At the time of the PPP’s launch, Wells Fargo said it would limit the amount of money it loaned through the program to $10 billion and that it would lend only to companies with fewer than 50 employees or to non-profits.

A few days later the Fed announced it was lifting Wells Fargo’s lending cap to accommodate more PPP lending, and Wells Fargo said it would resume issuing loans under the program.

A number of big banks have been accused of putting larger businesses ahead of smaller firms in order to boost their profits from administering PPP loans. Over 220 public companies have disclosed receiving PPP loans, including well known public companies like Shake Shack and AutoNation. The latter two and others later returned or canceled the funding amid public outrage that money from the small business program was going to larger businesses with other financing options.

In mid-April, CBS MoneyWatch reported that JPMorgan Chase had made a number of the largest PPP loans. Wells Fargo is the only big bank so far to disclose that its participation in the program is under investigation.

This is crunch time for the big U.S. banks.

They have steadily taken market share from their smaller brethren over the past decade and built large capital cushions with record earnings. Now, they must navigate an unprecedented period of economic stress while servicing—and showing leniency toward—hard-hit businesses and consumers.

The banks say they have never been better prepared. Investors, however, are worried about whether they can deliver and get past the crisis without being swamped by bad loans.

The sector has been hammered lately. The shares of the six top institutions— Bank of America (ticker: BAC), Citigroup (C), Goldman Sachs Group (GS), JPMorgan Chase (JPM), Morgan Stanley (MS), and Wells Fargo (WFC)—were down an average of 15% last week and 40% for the year. With banks amounting to leveraged plays on a reeling economy, the market setback is understandable.

Plenty of risk remains. There is uncertainty about what kind of action the government or banks may take to help borrowers, such as forgiveness of interest, fee waivers, or suspension of debt payments—and what effect that will have on profits.

The standard investor playbook is to avoid banks when the economy is going into recession—especially one whose depth and duration is especially hard to predict. The 2008-09 downturn was centered in the housing market, while the current crisis appears to be hitting nearly everything at once.

And many investors would rather stick with safer sectors such as technology (where many companies sit on big cash positions), pharmaceuticals, consumer staples, and electric utilities.

Nonetheless, the big bank stocks look appealing.

“In the financial crisis, banks were part of the problem,” says Michael Mayo, the banking analyst at Wells Fargo. “Now, they can be part of the solution. They spent the past decade preparing for a time like now, so they can act as a source of strength for the economy.”

To appreciate the banks, investors may have to rely on a traditional value measure—tangible book value—rather than earnings, which are likely to come under pressure for a quarter or two as loan-loss reserves surely increase. Published 2020 earnings estimates for banks are probably too high.

JPMorgan trading on Friday at $86, was at 1.4 times tangible book, and Bank of America, at $21, was at 1.1 tangible book. The other four fell below tangible book: Goldman, at $142, and Citigroup, at $39, fetched 70% and 55% of tangible book, respectively.

Tangible book is a conservative measure of shareholder equity that excludes goodwill and other intangibles and has often proved to be a floor under bank stocks.

Mayo says investors need to set aside their wariness of the banks. “It’s night and day versus the financial crisis,” he says. “Bank balance sheets were weak, and now they’re strong. The degree of resiliency is underappreciated. I would be shocked if one of the top 10 banks needs to raise equity or cut its dividend.”

Mayo favors JPMorgan, Bank of America, U.S. Bancorp (USB), and PNC Financial Services Group (PNC), the latter pair being among the highest-quality regional banks. JPMorgan has a diversified base of consumer and commercial lending, high net-worth wealth management, and investment banking. It has produced some of the industry’s best returns and has the best management team, led by CEO Jamie Dimon, who is recuperating from heart surgery.

Bank of America has transformed itself into the country’s top consumer and commercial bank in the past decade under CEO Brian Moynihan, who has espoused what he calls “responsible growth.” The bank has had the lowest loan losses among its peers, reflecting a know-your-customer consumer-loan strategy geared toward high-quality borrowers.

“We are here to be part of the solution,” Bank of America Chief Financial Officer Paul Donofrio told Barron’s. “We’re a haven for consumers and businesses to deposit their money or keep their investments. We see ourselves as a conduit to economic activity in a time like this. For existing clients who want flexibility, we will work with them. That’s our job, and we’re in a position to do it.”

Testing the Banks

How the big U.S. banks stack up now and how their earnings could be affected by the current crisis.

Bank / Ticker	Recent Price	YTD Change	2020E EPS	Stressed 2020E EPS	2020E P/E	Stressed 2020E P/E	Price/Tangible Book	Dividend Yield	Market Value (bil)
Bank of America / BAC	$20.01	-43%	$2.96	$0.71	6.8	28.2	1.0	3.6%	$174.6
Citigroup / C	34.67	-57	8.55	4.87	4.1	7.1	0.5	5.9	72.7
Goldman Sachs Group / GS	142.20	-38	24.05	15.47	5.9	9.2	0.7	3.5	51.2
JPMorgan Chase / JPM	85.60	-39	10.76	3.84	8.0	22.2	1.4	4.2	263.1
Morgan Stanley / MS	30.41	-41	5.31	3.07	5.7	9.9	0.8	4.6	46.6
Wells Fargo / WFC	28.15	-48	3.98	1.77	7.1	15.9	0.8	7.3	115.1
Regionals
Comerica / CMA	$29.68	-59%	$6.01	3.92	4.9	7.6	0.6	9.2%	$4.2
M&T Bank / MTB	106.74	-37	13.38	10.26	8.0	10.4	1.4	4.1	13.9
PNC Financial Services Gp / PNC	88.47	-45	11.46	5.28	7.7	16.7	1.1	5.2	37.9
U.S. Bancorp / USB	33.32	-44	4.27	2.20	7.8	15.2	1.4	5.0	50.7

Data as of 3/19/20; E=Estimate

Sources: Bloomberg; Barclays; company reports

Goldman Sachs and Morgan Stanley have less lending exposure than peers, since they tilt more toward banking, trading, investment banking, and asset and wealth management. Their business mix could limit the downside in their shares from currently depressed levels.

The regional banks have been hit even harder than the largest banks, with some down over 50% this year, because of their exposure to hard-hit small and midsize businesses as well as energy.

Yet both U.S. Bancorp and PNC have less exposure to energy relative to some peers. Mayo upgraded both stocks last week to Overweight. Of PNC, he wrote that its “risk profile is lower, making it a go-to bank in times of trouble, as it was during the financial crisis of 2008.” PNC also has a valuable stake in behemoth asset manager BlackRock (BLK) that is worth about 35% of its market value.

U.S. Bancorp has a diversified model and gets only about half of its profits from traditional banking, with the rest from businesses such as payment processing and wealth management. It has historically been viewed as the highest-quality big regional.

Ngân hàng lớn nhất Israel Hapoalim đã bị Mỹ phạt gần 875 triệu USD vì đã che giấu 7,6 tỷ USD tài sản chưa được khai báo trong các tài khoản của Thụy Sĩ và Israel.

Đây là một trong những mức phạt lớn nhất được áp dụng trong cuộc điều tra trốn thuế kéo dài của Mỹ vào hệ thống ngân hàng Thụy Sĩ.

Hapoalim cũng bị Bộ Tư pháp Mỹ (DoJ) phạt thêm 30 triệu USD vì tội đưa hối lộ liên quan đến hành vi tham nhũng tại Liên đoàn bóng đá thế giới (FIFA), có trụ sở tại Zurich, Thụy Sĩ.

Trong một tuyên bố riêng được thông báo ngày 1/5, Hapoalim cũng thừa nhận đã rửa hơn 20 triệu USD tiền hối lộ cho các quan chức bóng đá hàng đầu thế giới.

Chi nhánh ngân hàng này tại Thụy Sĩ đã tham gia vào kế hoạch khởi động từ tháng 12/2010 đến tháng 2/2015.

Tiền hối lộ được trả bởi một loạt đối tượng bao gồm một công ty tiếp thị thể thao để thao túng việc trao quyền phát sóng các giải đấu bóng đá thế giới FIFA World Cup.

Trong vụ trốn thuế, ngân hàng lớn nhất của Israel và công ty con ở Thụy Sĩ đã thừa nhận không chỉ che giấu mà còn tích cực hỗ trợ khách hàng Mỹ lập tài khoản bí mật, che dấu tài sản, thu nhập và trốn thuế.

Theo DoJ, vụ vi phạm diễn ra từ năm 2002 đến 2014, liên quan đến hơn 5.500 tài khoản.

Ít nhất 4 giám đốc điều hành cấp cao của nhóm ngân hàng, bao gồm hai thành viên hội đồng quản trị của chi nhánh Thụy Sĩ, đã tích cực hỗ trợ âm mưu này.

DoJ cảnh báo có thể đưa ra các quyết định dân sự hoặc hình sự hơn nữa đối với các cá nhân.

DoJ đã trì hoãn việc truy tố hình sự Hapoalim trong 3 năm với điều kiện phải hợp tác với các cuộc điều tra tiếp theo về các hoạt động của Hapoalim cho đến đầu năm 2019.

Đây là một phần của thỏa thuận, theo đó ngân hàng này sẽ trả cho Kho bạc Mỹ, Cục Dự trữ Liên bang, Cơ quan Dịch vụ Tài chính của Tiểu bang New York và Chính phủ Mỹ không truy tố ngân hàng trong 3 năm.

Các ngân hàng Thụy Sĩ, bao gồm các chi nhánh của các ngân hàng nước ngoài ở Thụy Sĩ, đã bị DoJ điều tra kể từ khi ngân hàng lớn nhất Thụy Sĩ là UBS bị phạt 780 triệu USD trong năm 2009 vì hỗ trợ những người trốn thuế.

Cuộc điều tra, liên quan đến khoảng 100 ngân hàng, đã dẫn đến việc chấm dứt “bí mật” ngành ngân hàng Thụy Sĩ.

Hapoalim là một trong số ít các ngân hàng còn lại bị điều tra. Ngân hàng lớn nhất Israel đã chịu một trong những khoản tiền phạt lớn nhất mặc dù vẫn ít hơn nhiều so với mức phạt hơn 2,5 tỷ USD áp dụng đối với ngân hàng Credit Suisse của Thụy Sĩ vào năm 2014.

Vào tháng 9/2017, Hapoalim cho biết sẽ kết thúc các hoạt động với ngân hàng Thụy Sĩ và chuyển khách hàng sang một ngân hàng khác./.

Bank Indonesia (BI) has injected Rp 503.8 trillion (US$32.7 billion) into banks and the debt market to stabilize the rupiah and help support the government’s financing needs to combat the economic shocks of the COVID-19 pandemic.

BI Governor Perry Warjiyo said that banks would be obliged to buy government bonds after the central bank freed up Rp 102 trillion in liquidity. Starting May 1, the reserve requirement ratio will be lowered by 200 basis points (bps) for commercial banks and 50 bps for sharia banks.

BI’s policy to revoke banks’ obligation to fulfil the Intermediary Macroprudential Ratio (RIM) would add another Rp 15.8 trillion of liquidity, said Perry.

“Fiscal policy will be crucial in channeling these funds into the real economy sector,” Perry told an online media briefing on Wednesday. “These quantitative easing measures taken by the central bank will fuel economic activities.”

This is in addition to the Rp 386 trillion worth of liquidity freed by the central bank since the beginning of the year to support the country’s crashing currency and boost banks’ liquidity, Perry said.

The central bank has bought Rp 166.2 trillion worth of government bonds in the secondary market as investors dumped Indonesian assets over fears about COVID-19, resulting in a slump in the value of the rupiah, which depreciated as much as 18.5 percent in early March.

BI’s repurchase agreements (repos) with banks through government bonds as underlying assets has provided the financial system with Rp 137.1 trillion, while BI’s decision to lower the reserve requirement ratio since the beginning of the year has provided banks with Rp 53 trillion. Furthermore, BI’s monetary operations in the form of foreign exchange swaps has provided Rp 29.7 trillion, according to Perry.

The rupiah has started to gain against the greenback over the last few weeks, strengthening to Rp 15,394 per US dollar as per 11 a.m. on Wednesday from this year’s low of 16,625 per US dollar, according to Bloomberg data.

“The volatility of the rupiah is due to technical factors affected by the ongoing conditions,” Perry said, citing the country’s large-scale social restrictions and economic growth projections and other issues as “negative news”. “However, there are also positive factors such as successful bond sales by the government and the strengthening futures market in the US.”

The central bank regards the current rupiah level as “fundamentally undervalued” and projects the country’s currency to reach Rp 15,000 per US dollar by the end of the year.

Outstanding loans amounting to Rs 68,607 crore of top 50 wilful bank loan defaulters in the country including firms of Mehul Choksi and Vijay Mallya have been technically written off till September 30, 2019, the Reserve Bank of India said in a RTI reply.

Absconding dimantaire Choksi’s company Gitanjali Gems tops the list of these defaulters with a whopping amount of Rs 5,492 crore, according to the list.

This is followed by REI Agro with Rs 4,314 crore and Winsome Diamonds with Rs 4,076 crore.

Rotomac Global Private Limited has funded advances of Rs 2,850 crore which have been technically written off and Kudos Chemie Ltd with Rs 2,326 crore, Ruchi Soya Industries Limited, now owned by Ramdev’s Patanjali, with Rs 2,212 crore and Zoom Developers Pvt Ltd with Rs 2,012 crore being the other companies.

Mallya’s Kingfisher Airlines figures in the list at number 9, with outstanding of Rs 1943 crore which have been technically written off by the banks.

Forever Precious Jewellery and Diamonds Private Limited has loans of Rs 1,962 crore written off while Deccan Chronicle Holdings Limited have Rs 1915 crore written off loans.

Choksi’s other firms Gili India and Nakshatra Brands also have loans of Rs 1,447 and Rs 1109 crore respectively written off.

REI Agro of Jhunjhunwala brothers is already under the scanner of ED. The CBI and ED are also probing alleged fraud by the owners of Winsome Diamonds.

Vikram Kothari’s Rotomac is the fourth in the list. He and his son Rahul Kothari were arrested by the CBI for bank loan default.

In the last Parliament session, Rahul Gandhi had asked the government to provide a list of top 50 bank loans defaulters in the country, leading to sharp exchanges and uproar in the Lok Sabha.

“The information on top 50 wilful defaulters and their sum of funded amount outstanding and amount technically/prudentially written off as on September 30, 2019 reported in CRILC by banks, is provided,” the RBI said in its written response dated April 24.

In his application, RTI activist Saket Gokhale had sought the list of defaulters as on February 16, but the RBI said the requested information is not available.

The RBI said that according to section 8 (1)(a) of RTI Act 2005 read with para 77 of Supreme Court judgement of December 16, 2015 in Jayantilal N Mistry case, information on overseas borrowers is exempted from public disclosure.

“Data is as reported by banks and RBI will not be held responsibly or accountable for any misreporting and/or incorrect reporting by the reporting entities,” the RBI said in the written reply to the RTI query.

汇丰控股有限公司(HSBC Holdings PLC, 0005.HK, HSBC, 简称∶汇丰控股)周二表示，2020年第一季度利润同比锐减57%，主要原因是全球新冠病毒大流行和油价下跌导致预期信贷损失及其他信贷减值准备增加。

总部位于英国的汇丰控股公布，第一季度净利润降至17.9亿美元；第一季度收入为136.9亿美元，同比下降5%。以资产规模计，汇丰控股是全球最大的银行之一。

该公司集团行政总裁祈耀年在一份业绩公告中称∶“新型冠状病毒疫情爆发对汇丰客户造成的经济冲击，是导致我们今年以来财务表现变动的主要因素。”

汇丰控股表示，第一季度，列账基准预期信贷损失达到30亿美元，还计入了新加坡一项与企业贷款风险相关的重大准备。

该公司预计，新冠病毒疫情料将带动预期信贷损失上升，并对收入构成压力。该公司预计盈利能力将显著下降，同时预计2020年的风险加权资产会录得中至高单位数百分比增长。

今年早些时候，应英国央行的要求，汇丰控股和英国多家大型银行同意取消派息，此举旨在增强它们的资本缓冲，以应对新冠病毒大流行带来的经济冲击。

汇丰控股表示，将于公布2020年终业绩或之前，重新审视公司的股息政策。

在这份业绩公布前，汇丰控股香港上市股票上涨1.8%，报40.20港元，但自今年年初以来该股已累计下跌34%。

4月27日，河内市人民法院开庭审理大洋商业银行（OceanBank）原董事长何文深（1972年出生）及7名同案犯“违反财务会计管理制度造成严重后果”案件。

这是涉及何文深的第三个案件，也是何文深及其同案犯贪腐大案调查的第二阶段。

七名同案犯分别是：黎氏秋水（1977年出生，大洋商业银行原副总经理），武氏垂阳（1980年出生，大洋商业银行原国内会计与交易部经理），丁氏红香（1980年出生，大洋商业银行原国内会计与交易部副经理），陈氏秋鸿（1982年出生，大洋商业银行原国内会计与交易部内部会计室主任）、陶氏赖（1978年出生，大洋商业银行总部原市场和公共关系部公关经理），黎氏娟（1982年出生，大洋商业银行原市场和公共关系部公关专员）和黄文线（1975年出生，大洋集团股份有限公司原总会计师）。

其中，被告何文深和黎氏秋水按照先前判决结果正在监狱服刑，其余的6名被告均获准保释，但不得离开住处。

共有6名律师为各被告提供辩护服务。30名相关人员出庭。

法庭遵守新冠肺炎疫情（COVID-19）防控相关规定，出庭者每人都佩戴口罩且保持一定的距离。

根据最高人民法院的起诉书，2010年至2014年，受何文深的命令，OceanBank 向客户支出存款利息额外款项1.576万亿越盾（属于该案第一调查审理阶段），由于提前支付大量资金，缺乏报销等流动资金，何文深要求黎氏秋水同部分单位与大洋银行内外19个单位签署44份虚假合同并使其合法化，涉案资金1338亿越盾。

最高人民检察院指出，被告何文深和相关人员签署、记账及支付虚假合同的行为导致大洋商业银行核算不实金额，造成损失超过1060亿越盾。

何文深是该案的主导者，指导大洋银行其他领导和各伙伴签署上述虚假合同，给大洋商业银行造成1060亿越盾的损失。在该案第一审理阶段，何文深已对支出贷款利息额外款项650亿越盾的行为承担责任，因此在该案第二阶段，何文深只须对剩下的410亿越盾承担责任。

对于被告黎氏秋水，检察院认为，被告受何文深的命令，指导会计和公关部寻找、签署及支付上述虚假合同得来的款项，是何文深最积极的助手。

预计此次开庭审理时间为3天。

Investors are bracing for potentially large loan loss provisions at HSBC, Standard Chartered and other big banks in Hong Kong as the coronavirus pandemic weighed heavily on economic activity around the world during the first quarter.
The city’s three currency-issuing lenders – HSBC, Standard Chartered and Bank of China (Hong Kong) – are all expected to report their first-quarter results this week beginning on Tuesday. Rivals DBS and Industrial and Commercial Bank of China (Asia) also are among lenders expected to update investors on their quarterly results this week.
In February, many of the banks operating in the city warned that they expected to set aside additional reserves for bad loans in the first quarter. Still, they added that the risk was short term and manageable. That was before the economic environment worsened as the pandemic’s spread shut down cities from New York to Singapore.
“When banks reported their results for the end of December, none of them had factored in the real impact of Covid-19,” Paul McSheaffrey, a partner at accountancy firm KPMG, said. “We should definitely expect higher loan loss provisions coming through.”
When they reported their first-quarter results earlier this month, the biggest American banks, including Bank of America, Citigroup and JPMorgan Chase, set aside a collective US$25 billion for potential loan losses as they prepared to weather a global downturn not seen since the Great Depression. It was the biggest jump in loss provisions in a decade.
Last week, the China Banking and Insurance Regulatory Commission said the non-performing loan (NPL) ratio for the nation’s banking sector rose to 2.04 per cent at the end of March as the country’s economy shrunk for the first time since 1976. The NPL ratio ended 2019 below 2 per cent.
The coronavirus has infected more than 2.9 million people worldwide and disrupted industries across the board as health officials ordered companies to keep their employees at home. Covid-19, the disease caused by the virus, has killed more than 205,000 people around the globe.

Unlike 2008, when a crisis in the financial system threatened the economy and society, Covid-19 is a devastating shock to people’s health that threatens their livelihoods, the businesses in which they work and invest, the wider economy, and therefore the financial system.

The shock comes at a time when the Indian economy is poorly prepared to deal with it. Our economy was slowing due to weak demand, caused by a combination of a banking system burdened by non-performing assets with limited room to extend credit, and over-leveraged companies with limited room to invest. The government took up some of the slack, leaving it with weakened fiscal capacity to deal with this crisis.

This is not the time for introspection, however. As the Indian government implements its Rs.1.7 trillion relief package, it’s worth asking how this, and other measures fit in the overall playbook for dealing with the economic aspects of this crisis.

The playbook, including the measures that commercial banks, central banks, and governments need to consider, was laid out in a letter published recently by the CFA Institute backed Systemic Risk Council, a non-partisan body of former government officials, financial, and legal experts. The measures are summarized below.

Commercial Banks:
The need for credit is expected to increase, as businesses and households suffer from loss of incomes and demand, and banks need to be prepared to meet the demand by conserving capital. It may mean halting dividends and buybacks, and suspension of bonuses to senior staff. It may also mean stepping back from trading, derivatives, and securities-lending activities that do not support the real economy.

Regulators could help banks expand credit, by exercising forbearance as banks utilize their capital buffers to increase lending to fundamentally sound borrowers, in some cases going below the capital ratios in the short term. The average capital to risk weighted assets ratio (CRAR) of Indian banks was 15.1%, and the public sector banks’ CRAR stood at 13.6% post government recapitalization, according to RBI’s financial stability report released last December, indicating a reasonable cushion to lend. (the figures do not account for the impact of capital infusion into troubled lender Yes Bank).

Measures For Central Bank
Central banks can take various steps during this crisis, starting with the use of discount-window facility not just by banks, but potentially expand to other financial intermediaries whose stress might materially damage the economy.

Central banks must be prepared to expand the collateral, subject to prudent haircuts. If the situation warrants, central banks must be prepared to use creative measures, such as outright purchases of private securities, or acting as the market-maker-of-the-last-resort for segments that are fundamentally sound, and any malfunction would be socially costly. Lastly, central banks must ensure government programs to protect its citizens and the economy can be funded under any circumstances.

RBI’s actions in recent days addresses most of these measures. RBI prohibited commercial banks from issuing dividends, although it stopped short of recommending other capital conservation measures. In addition to the 75-bps cut in repo and 25 bps cut in reverse repo rates, it has made efforts to inject liquidity in the system, starting from the Long-Term Repo Operation (LTRO) announced as early as 16th of March, the 16-day variable rate repo auctions, and open market operations in government securities over the past few weeks.

Spreads on corporate bonds with even AAA ratings have widened since March, while the overnight lending rates have fallen, as investors increasingly prefer cash and short-term instruments. While RBI has stopped short of accepting corporate bonds as collateral, it has indicated that banks could use the liquidity injections to purchase corporate bonds, Non-Convertible Debentures, and Commercial Papers, and more recently those issued by NBFCs and Micro-Finance Institutions (MFIs).

Measures For Governments
As the scale of the crisis becomes clearer in the coming weeks, the Indian government’s relief package may turn out to be a starting point of a range of measures needed to support households, businesses, and states, described below.

Governments need to make clear that they will guarantee new loans by banks to businesses or households in distress, which should be eligible as collateral in central bank facilities. This approach has been followed by western governments to varying degrees, with UK, France, Spain, and US announcing loans and guarantees worth £330 billion (15% of GDP), €300 billion (12%), €100 billion (8%), and $849 billion (4%) respectively. Governments also need to provide direct aid to business sectors that are vital to address the crisis, as the Indian government’s allocation of Rs.15,000 crore for healthcare attests.

Governments need to provide direct aid to households that lost work due to the crisis, but are otherwise healthy, and ensure no one is prevented from getting the health care they need, whatever the financial situation. While the Indian government’s Rs.1.7 trillion (0.8% of GDP) package, aimed at households, was a robust initial response at the time, it falls short of emerging markets with comparable fiscal capacity, and more relief is expected over the coming days. As of April 16th, the cumulative fiscal measures announced by Indian central and state governments amounted to 1.1% of GDP, compared to Thailand (8.9%), Brazil (6.5%), Russia (3%), Malaysia and Indonesia (2.8% each), according to IMF calculations. In particular, our fiscal and monetary measures taken till date have not addressed the stress faced by micro, small, and medium enterprises (MSME) effectively, considering the large contribution to economic activity and employment from the informal sector.

Lastly, central governments need to support the debt management strategies of states, as they borrow a lot more to tackle the crisis. Kerala was the first Indian state to unveil a relief package of Rs.20,000 crores by frontloading its annual budget. It won’t be the last state to require central government support.

There is a strong need for co-ordination among countries to share experience and resources; the government’s leadership among SAARC countries is a positive step. It’s also important for international financial institutions to support emerging economies; an IMF currency swap arrangement to support EM currencies may be needed, if dollar appreciation proceeds apace.

Covid-19 is a once-in-a-lifetime tragedy. It forces governments worldwide to impose economic misery to alleviate human misery, but the trade-offs are far more complex for developing countries like ours. The economic measures must match the magnitude and speed of the crisis.

With the rapidly changing digital technology India has seen a sharp increase in online banking and financial inclusion of the common man. Lured by a massive economy and rising middle-class incomes and living standards, a large number of foreign lenders in India have been vying for a bigger share of the Indian banking market for decades, yet they account for just 6 per cent of the total Indian banking assets.

After the recent government’s effort to ease the regulations in the banking space and the thrust on digital payments and banking there is a renewed interest of foreign investors especially PE funds to participate in the Indian banking pie. Attractive returns in India compared to the rest of developed countries are bolstering foreign banks such as Citigroup, Deutsche Bank, and HSBC to invest more in a market that has a vast pool of unpenetrated retail banking clientele.

For example, Deutsche Bank, that two years ago considered selling the Indian unit, and recently in July last year laid off 18,000 staff globally as part of a broader restructuring, is staying put in India which is home to its only retail business outside Europe. The bank injected nearly 500 million euros ($552.45 million) into those operations in early 2019; it is the single largest investment in the country and aims to double its India revenues from current levels.

HSBC’s pre-tax profit from its India retail and wealth management unit more than doubled to a record $48 million last year. While small compared with the $6.6 billion it made in its home market of Hong Kong, the figure contrasted sharply with HSBC’s $74 million loss in China. The Asia-focused lender, which intends to double spending on technology and marketing in the coming three years, aims to double profit again over the next three to five years.

The year 2019 saw a steady flow of foreign direct investment (FDI) into India, despite comparatively slower growth in the global and Indian economy. FDI inflows until September 2019 stood at $26 billion indicating a 15 per cent growth over the previous year. The following chart shows the distribution of FDI in India across various sectors, for the last three quarters of FY20. The services sector (including Financial, Banking, Insurance, Non-Financial or Business) India received the highest share in FDIs amounting to over 639 billion Indian rupees in fiscal year 2019 and 458 billion Indian rupees in the first three quarters of fiscal year 2020 which is 24.63 per cent of total FDI inflows in India. A large portion of these FDI inflows is going towards innovative fintech companies who are leveraging technology and are focused on enrolling customers without minimal or no paperwork. FDI is also being channeled into peer to peer lending companies and other non-banking financial companies which have a strong retail footprint and are trying to meet the credit needs of people who are unable to tap the conventional banking channels.

The growth in the retail banking or lending space is aided by technological innovations but the role of regulatory easing in this growth spurt cannot be ignored. The banking regulator has been very supportive in providing policy legroom to ease banking, services like online customer on-boarding and servicing, background checks which were not approved by the regulators, have been approved in recent times. The government’s conscious efforts and policy push to move more and more consumers as well as merchants into the formal economy have also led to an increase in the size of the overall banking space which has created ample room for all players to grow their businesses.

Foreign banks have been able to leverage these positive developments to their advantage which reflected in their annualised return on equity from their Indian operations to approximately 10 per cent, which stands approximately 40 per cent higher than the ROE’s of domestic Indian lenders. The Indian banking industry at this point is going through a lot of churns, PSU banks are reeling under huge NPA’s and the leading private banking players are dealing with significant corporate governance issues, foreign capital along with brings in best corporate governance practices which has been the reason of the recent success of foreign banks and investors in the Indian banking space.

As India remains in a lockdown till May 3, a question that is popping up on everyone’s mind happens to be—how banking services will be affected?
Needless to say, banking services are considered essential and are expected to continue during the lockdown. “Core banking activities will continue to function as usual. Bank branches are operational and continue to provide services. However, banks have trimmed working hours or have staggered working hours to maintain social distancing, with most banks working from 10 am to 2 pm.”
“Nonetheless, activities that require third-party support, such as those including document collection and verification, are currently moving slowly because of the lockdown,” says Adhil Shetty, CEO, BankBazaar.
Banks are also working with limited staff, so you may have to spend more time at a bank. Also, most banks have streamlined their phone banking services and you can expect longer wait times and services being limited to emergency services like blocking a lost or stolen card. For most other services, banks are encouraging their customers to use their website or app.
In these circumstances, one needs to avoid going out. Shetty advises that as much as possible, one should try to complete all their banking requirements online. Unless absolutely essential, try to postpone activities that requires a physical visit.
“The pandemic has brought about an urgent need to revaluate how we look at all our essential services including banking. The changes happening now are not a temporary stop-gap measure but reflect the shape of things to come. Going forward, banking is going to fundamentally change to an essentially paperless model in the post-COVID world,” he adds.
The idea is to use digital alternatives to cash as much as possible to reduce ATM visits. In case you do require cash, compute how much cash you would require for the next few weeks and withdraw a larger amount so that you do not need to visit the ATM again in the next few weeks.
Apart from transferring funds, banks allow you to do a number of other tasks including applying for cheque books, issuing standing instructions, making bill payments, open or modify FDs and RDs. You can also apply for a new card or block a card through your mobile banking.
If you can postpone some activities, like applying for a loan or opening an account, you may wait till the lockdown is over.
And most importantly, even you are visiting a bank; maintain social distancing rules strictly as advised by bank officials and use precaution such as a mask and gloves. Exercise precaution. Stay Safe and healthy.

Investment-grade bonds that have been downgraded to a rating of at least BB are now eligible for use as collateral in eurozone credit operations, the European Central Bank said.

The move will increase the amount of available, eligible collateral in light of ongoing corporate-credit rating downgrades as a result of the coronavirus pandemic, the bank said Wednesday. The ECB hopes the measures will provide additional liquidity and funding to the eurozone economy.

The use of these bonds — known as fallen angels — as collateral will last until September 2021, the ECB said.

Prior to the ECB’s decision investment-grade bonds with a rating of at least BBB- were considered eligible collateral.

The announcement follows a broader easing of collateral rules adopted by the ECB’s governing council on April 7, which included a temporary increase in the central bank’s risk tolerance.

The European Central Bank has changed its rules to accept “fallen angel” bonds that lose their prime credit ratings to maintain banks’ access to ultra-cheap liquidity during the coronavirus crisis.

The move, which was approved by an unexpected appeal by the ECB’s governing council on Wednesday, aims to limit financial turmoil that could otherwise be caused by an expected wave of credit downgrades in response to the pandemic.

About $ 275 billion in non-financial corporate bonds could become fallen angels by downgrading below the triple B minimum required for investment grade status over the next year, according to OECD estimates in February.

The ECB has already granted a waiver for Greek sovereign bonds from its ban on collateral assets that have a credit rating below investment quality as part of a general relaxation of its collateral rules that she announced two weeks ago.

The ECB said on Wednesday that it had also decided to temporarily exempt bonds that are downgraded to junk status from its requirement that any collateral it accepts should have an investment grade rating. Its relaxed warranty rules will remain until September 2021.

He said he was ready to go further if necessary to avoid a eurozone debt crisis. “The ECB may decide, if and when necessary, to take additional measures to further mitigate the impact of downgrades, in particular with a view to ensuring the smooth transmission of its monetary policy in all jurisdictions in the euro area “, He specified.

Alberto Gallo, portfolio manager of the hedge fund Algebris Investments, said: “The ECB acts to limit the pro-cyclical action of rating agencies and to protect sovereigns like Italy from deterioration. High-yield firms and SMEs account for a large part of the real economy. It is important that the aid is not only for large companies. “

Investors are particularly concerned about a possible downgrade in Italian sovereign debt ratings, with Standard & Poor’s expected to announce a decision on Friday. Italy’s already weak economy was one of the hardest hit by the coronavirus crisis, raising fears that its high debt could become unsustainable.

Italian 10-year sovereign debt yields were sketched out on Wednesday before the ECB’s unannounced announcement, reaching 2.27% before falling to 2.08%.

However, ECB officials said that its decision to accept fallen angel bonds as collateral was more aimed at corporate bonds. Any downgrade of Italian sovereign debt to trash could be treated using a waiver similar to that granted to Greek bonds, they said.

UBS underscored the magnitude of the potential fallen angel problem, noting recently that since 2011, European bonds rated triple B minus, a notch above junk status, had “swelled” from € 330 billion to 1, 14 billion euros. However, the issuance of junk bonds rated double B on the high-yield market increased from 74 to 185 billion euros.

The US Federal Reserve has gone a step further by including junk bonds in its asset purchase program and Wednesday’s ECB decision prompted speculation that it could follow suit as early as next week when its board will meet to discuss monetary policy.

“Right now, companies in the high-yield space are borrowing at high levels,” said Mona Mahajan, investment strategist at Allianz Global Investors. “Both the ECB and the Fed are working to ensure that the high-yield and credit markets remain generally liquid and functioning.”

Bob Michele, chief investment officer and global fixed income manager at JPMorgan Asset Management, said: “The ECB pretty much telegraphs to the EU if you increase the spending packages, we are able to increase our purchases to help control funding. of this package. “

The ECB said it had “decided to extend the eligibility of marketable assets and the issuers of those assets that met the minimum credit quality requirements on April 7, 2020 in the event of a deterioration in credit ratings decided by credit reporting agencies.” ratings accepted in the Eurosystem. as long as the ratings remain above a certain level of credit quality ”.

This means that all investment grade bonds as of April 7 will continue to be eligible even if they are downgraded below the triple B level by the major credit rating agencies as long as their rating remains no more than two notches below. investment grade.

Securities backed by assets with a rating of at least A-minus will benefit from rights acquired under the ECB’s guarantee scheme as long as their rating remains equal to or greater than double B plus. Fallen angel assets will be subject to “haircuts” to reduce their collateral value based on their last credit rating.

Publicly listed diversified conglomerate PT Astra International and British lender Standard Chartered Bank have agreed to lower the sale price of Bank Permata as the COVID-19 pandemic poses risks to the financial industry.

Both companies agreed to amend the conditional sale and purchase agreement on April 20 with Thailand-based Bangkok Bank as the buyer.

“According to the amendment letter, the purchasing price has been changed to 1.63 times Bank Permata’s book value from 1.77 times its book value,” Astra International said in an information disclosure posted on the Indonesia Stock Exchange (IDX) website on April 20.

The change stated in the amendment letter is conditional upon the transaction being completed on or prior to June 30.

Astra’s investor relations head Tira Ardianti told The Jakarta Post on Wednesday that the decision to lower the purchase price was made in light of the unfavorable economic conditions caused by the COVID-19 pandemic.

“Both the seller [Astra and SCB] and the buyer [Bangkok Bank] agreed to the incentive to complete the transaction as well as to provide a sense of certainty to the market during this uncertain time,” she said via text message.

Astra’s parent company Jardine Cycle and Carriage Ltd estimated the sale price to be about Rp 17.46 trillion (US$ 1.12 billion) for Astra, based on it being 1.63 times book value as of Dec. 31, 2019, according to a filing on the Singapore Stock Exchange (SGX).

[RA::Bangkok Bank to acquire another Indonesian bank after Permata deal: OJK
::https://www.thejakartapost.com/news/2020/03/05/bangkok-bank-to-acquire-another-indonesian-bank-after-permata-deal-ojk.html]

Bank Permata announced in December 2019 that Astra and Standard Chartered Bank, each holding a 44.56 percent stake in the bank, agreed to sell their stakes totaling 89.12 percent to Bangkok Bank.

The deal valued Bank Permata at 1.77 times its book value per September and indicated a purchase price of Rp 1,498 per share, meaning that Bangkok Bank would buy the two companies’ stakes for a total of Rp 37.44 trillion.

HSBC’s investment banking head in Asia-Pacific took a six-month sabbatical beginning this month as part of chief executive Noel Quinn’s efforts to reshape the 155-year-old bank.
Gordon French, the Asia-Pacific head of its global banking and markets business and one of its highest-paid bankers in the region, began a sabbatical on April 15 and is expected to explore “other opportunities” within the group when he returns, according to an internal memorandum seen by the South China Morning Post.
The move is part of a realignment of the investment bank that would see regional head roles split between its global banking operations and its markets and securities services business.
Thierry Roland, the regional head for the business in Europe, will head the bank’s newly created RWA Optimisation Unit, which will dispose of assets that do not meet the bank’s return expectations, according to the memo. Andre Brandao will serve as the regional head for the Americas until the end of the year, with a further announcement expected later.
HSBC’s investment banking head in Asia-Pacific took a six-month sabbatical beginning this month as part of chief executive Noel Quinn’s efforts to reshape the 155-year-old bank.
Gordon French, the Asia-Pacific head of its global banking and markets business and one of its highest-paid bankers in the region, began a sabbatical on April 15 and is expected to explore “other opportunities” within the group when he returns, according to an internal memorandum seen by the South China Morning Post.
The move is part of a realignment of the investment bank that would see regional head roles split between its global banking operations and its markets and securities services business.
Thierry Roland, the regional head for the business in Europe, will head the bank’s newly created RWA Optimisation Unit, which will dispose of assets that do not meet the bank’s return expectations, according to the memo. Andre Brandao will serve as the regional head for the Americas until the end of the year, with a further announcement expected later.

KUALA LUMPUR – United Overseas Bank (Malaysia) Berhad (UOB Malaysia) menutup lapan daripada 45 cawangannya di seluruh negara bagi melindungi kesejahteraan pelanggan dan kakitangannya berikutan pandemik Covid-19.

Cawangan-cawangan yang terlibat ialah Jalan Imbi dan Medan Pasar di Kuala Lumpur; Kota Damansara, Shah Alam dan Ijok di Selangor; Raub dan Bentong di Pahang dan Sandaka, Sabah.

Penutupan itu bermula hari ini sehingga berakhirnya tempoh Perintah Kawalan Pergerakan.

UOB Malaysia berkata, penutupan cawangannya di Medan Pasar kerana berhampiran dengan kawasan Masjid India yang kini diletakkan di bawah Perintah Kawalan Pergerakan Diperketatkan (PKPD).

Meskipun penutupan itu, para pelanggan masih boleh mengeluarkan wang tunai melalui mesin ATM, cek dan mesin deposit syiling mulai jam 8 pagi hingga 8 malam, kecuali di cawangannya di Medan Pasar.

For those worried about the debt involved, including some Coalition MPs, the Reserve Bank Governor offers some reassurance.

Mr Lowe told Four Corners “we shouldn’t be worried” about the debt.

“It’s the right thing to do… we have the capacity to borrow, our interest rates are as low as they’ve ever been, the Australian Government has a long record of responsible fiscal policy, so the budget accounts are in reasonable shape. And if ever there’s a time to borrow, now is it,” he said.

There is, however, a gentle reminder to either side of politics who think they can avoid tough decisions in the future about this debt.

“That debt will have to be repaid at some future point, and that will constrain our choices. So we’ll have to confront that,” he said.

We still don’t know how much spending and therefore debt will be required to survive this crisis.

The Prime Minister is also flagging a “pro-growth” strategy on the other side to help get the economy up and running again. In other words, confronting the debt burden won’t be the immediate priority.

After stabilising the plane, those in the cockpit are now trying to work out how to land it.

The financial industry has urged the public and small and medium enterprises (SME) to be aware of scam syndicates deploying tactics to deceive unsuspecting victims.

The scam may result in monetary losses and risk compromising victims’ sensitive banking details and confidential information, said the financial sector in a joint statement today.

The industry comprises the Association of Banks in Malaysia (ABM), the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) and the Association of Development Finance Institutions of Malaysia (ADFIM).

They said the syndicates’ latest modus operandi includes impersonating bank officers and/or bank representatives who engage with unsuspecting victims via email, phone call, short message service (SMS) and/or social messaging platforms such as WhatsApp or other online messenger services.

“The scammers used the pretext of facilitating financial aid and/or assisting in loan application preparation and securing financing involving the stimulus package and special relief measures such as the Special Relief Facility as announced by Bank Negara Malaysia and the financial institutions,” it said.

The associations said financial institutions and/or banks did not appoint nor engage third parties or agents for the process of securing loans.

“Hence, individuals and businesses are strongly advised not to pursue loan applications and/or divulge sensitive and confidential information to individuals or companies claiming to be third party appointees or agents from the financial industry,” it added.

The public and businesses seeking financing are advised to get in touch with the banks or financial institutions directly to apply for loans to avoid being deceived by the unscrupulous syndicates.

“Alternatively, SMEs can also seek legitimate financing options via the imSME.com.my online platform, whereby, the platform will match your financing needs with the financial institution best suited to your requirements.”

The public is also advised to be wary of calls or messages purportedly from bank officials, the police, income tax department, the courts or other government agencies demanding your personal banking information.

“Banks and/or financial institutions will never ask you for your personal banking information such as Transaction Authorisation Code (TAC) or Personal Identification Number (PIN) or your online login username and password,” the financial industry collectively said.

They said businesses and members of the public are reminded to refer to the financial institutions and/or banks’ official websites or contact their customer service directly for information, verification and clarification.

김남권 성서호 기자 = 산업은행, 기업은행[024110], 수출입은행 등 금융 공공기관의 올해 경영실적평가 때 신종 코로나바이러스 감염증(코로나19) 사태 대응으로 나빠진 건전성 지표를 반영하지 않는다.

금융위원회는 2020년 금융 공공기관 경영실적평가에서 코로나19 대응에 따라 생길 수 있는 불이익을 완화해 평가할 방침이라고 19일 밝혔다.

코로나19 대응으로 악화할 수 있는 자기자본이익률(ROE), 이익 목표 달성도 등 수익성 지표와 유동성 커버리지 비율, 국제결제은행(BIS) 비율 등 건전성 지표가 평가 대상에서 빠진다.

정부 정책 이행 노력을 평가할 수 있는 비계량 지표는 신설된다.

금융위는 또 금융 공공기관의 코로나19 대응에 따른 업무증가로 발생하는 직원 초과근무 수당 등이 원활히 지급될 수 있도록 예산집행 방침도 조정하기로 했다.

코로나19 대응에 따른 초과근무 수당은 경영실적 평가지표인 ‘총인건비 인상률(평가연도 인건비-전년도 총인건비/전년도 총인건비)’ 산정 때 제외한다.

금융위는 아울러 산업은행의 순안정자금 조달비율(NSFR: 안정 자금 조달 필요금액 대비 안정 자금 가용금액) 규제를 완화해준다.

산은은 순안정자금 조달비율을 100% 이상을 유지해야 하는데 내년 6월 말까지 90%까지 떨어지더라도 제재를 받지 않는다.

안정자금 인정 비율이 상대적으로 낮은 산업금융채권(산금채) 발행 이후 산은의 NSFR이 하락할 것에 대비한 조치다.

정부의 민생·금융안정 패키지 프로그램에서 산은은 산금채로 자금을 조달하고 있다.

윤창호 금융위 금융산업국장은 “산은을 포함한 공공금융기관들이 자체 자본 비율을 바탕으로 코로나19 대응에 적극적인 역할을 하고 있다”며 “적극적인 기업 여신 공급으로 자기자본비율이 하락하는 경우 정부가 손실을 보전해서 자기자본비율을 보전할 계획”이라고 말했다.

HDFC Bank Ltd. reported net income growth of nearly 18% and ramped up bad loan provisions in the latest quarter, a period marked by the bailout of another bank as well as the imposition of a nationwide lockdown to stop the spread of coronavirus.

Analysts remain bullish on HDFC Bank, with an average rating of 4.76 on a Bloomberg scale where 5 is a unanimous buy. The lender is seen being able to better withstand the pandemic impact due to its position as a market leader. Its shares are down 28% this year, the least of all Nifty Bank Index members.

“HDFC Bank’s business growth remains robust despite economic activity getting impacted due to the Covid-19 outbreak,” Nitin Aggarwal, an analyst with Motilal Oswal Financial Services Ltd., said in a note. “A strong liability franchise will support margins, while higher liquidity levels would enable the bank to ride the current crisis and gain further market share.”

The bank’s net income rose to 69.3 billion rupees ($907 million) in the quarter ended March 31, compared with an average 72.5 billion rupees estimate in a survey of eight analysts. Provisions against soured debt jumped to 37.8 billion rupees from 18.9 billion rupees a year ago.

Despite the optimism over HDFC Bank, market participants remain cautious on the sector overall. India financials have been reeling from a shadow-banking crisis that culminated in the Yes Bank Ltd. bailout. The pandemic struck just as lenders were about to see signs of stability. The Reserve Bank of India has moved to further ease liquidity and bad-loan rules to keep funds flowing through the economy.

“If a bad loan cycle begins for retail, the fear psychosis of taking risk off the table will reduce the credit to the segment,” said Kenneth Andrade, chief investment officer at Old Bridge Capital Management Ltd, overseeing assets of $400 million.

Here’s a roundup of analyst comments on HDFC Bank’s results:

Axis Capital Ltd. (Manish Karwa)

• Growth likely to be steady despite bank’s tightening of its credit filters resulting in higher rejections of loan applications.
• Rural strategy on track; investment in digital is leading to strong build-up of deposit base.
• Reduces growth estimates for both loans and fee income as retail will slow down sharply.
• Rated buy, price target 1,250 rupees

ICICI Securities Ltd. (Sandeep Joshi)

• HDFC Bank better positioned to weather the storm; however, in times of economic dislocation, it is sensible to remain conservative.
• Expects bank’s loan growth to moderate to 12%, net interest margin to contract by 9 basis points and credit cost to be elevated at 1.7% in FY21.
• Near-term earnings impact doesn’t overshadow bank’s balance sheet strength, competitive advantage.
• Maintains buy with price target cut to 1,339 rupees from 1,604 rupees

Prabhudas Lilladher (Pritesh Bumb)

• Contingency provisions to cushion shocks from nasty surprises; early part of FY21 remains uncertain on business & asset quality.
• Bank stress tested its loan portfolios and things are quite manageable; confident on its risk assessment process.
• Retains buy with price target lowered to 1,105 rupees from 1,124 rupees

Kotak Institutional Equities (M.B. Mahesh)

• Early commentary on impact of coronavirus is not as bad as expected.
• Valuations attractive.
• Bank well positioned to navigate crisis despite larger exposure than peers to some sectors that could be impacted by economic downturn.
• Maintains buy with fair value unchanged at 1,050 rupees

S&P Global Ratings’ downgrade of Indonesia’s outlook is not a reflection of fundamental economic problems, central bank Governor Perry Warjiyo said, stating that policy steps taken in response to the coronavirus pandemic will help to restore the nation’s financial trajectory.

The comments from the Bank Indonesia chief come after S&P cut its outlook for the nation to negative from stable, while affirming its long-term foreign currency debt rating at BBB, the second-lowest investment grade score. The change was to reflect “additional downside risk to the government’s fiscal and external metrics” from the pandemic, S&P said on Friday.

“The lingering economic and financial uncertainty is a global phenomenon and Indonesia is one of many countries that have taken policy responses in the area of fiscal, monetary and financial policy to mitigate the negative impact of the spread of COVID-19,” Perry wrote in a statement.

The various policy steps taken by authorities “will be able to restore Indonesia’s economic trajectory, in terms of growth, external, and fiscal towards a more sustainable level in the not too distant future,” he added.

Indonesian policy makers have announced a series of emergency measures in recent weeks as the coronavirus pandemic takes a toll on the economy. President Joko Widodo has unveiled stimulus packages worth $28 billion, boosted Bank Indonesia’s powers and suspended a budget deficit cap to allow the government to boost spending. The central bank has cut rates twice this year and intensified its intervention in financial markets.

The move to suspend the fiscal deficit cap was seen as an “extraordinary” measure and “in response to a highly unpredictable, exogenous shock,” S&P said. Indonesia’s external position “has weakened following considerable depreciation of the rupiah, and the government’s debt burden will be materially higher over the next few years owing to strong counter-cyclical fiscal measures,” it added.

The pandemic is seen slowing economic growth in Southeast Asia’s biggest economy to 2.3 percent this year, compared with an initial estimate of 5.3 percent, Finance Minister Sri Mulyani Indrawati said at the start of this month.

Turning to unconventional tools, Bank Indonesia may start buying sovereign bonds directly from the government as early as next week — the first time it would be doing so.

The central bank is in the final stages of completing an agreement with the Finance Ministry that will allow it to buy rupiah-denominated bonds as a non-competitive bidder in the primary market, Warjiyo told reporters Friday.

The Reserve Bank of India’s (RBI) yet another attempt to persuade banks to bring pace in their lending activity to different industrial segments is expected to be a non-starter in post- COVID-19 situation. The central bank may have reduced the reverse repo rate by another 25 basis points (bps) to 3.75 per cent, disincentivising the banks to park their additional funds with the RBI, but it will be too much of optimism to expect banks’ lending to pick up because of this move. Though other measures announced by RBI Governor Shaktikanta Das to boost liquidity conditions, particularly for the Non-Banking Finance Companies (NBFCs), will prove to be a Big Bazooka with prudence and caution.

Dr. Joseph Thomas, Head of Research – Emkay Wealth Management said, “RBI has reaffirmed its commitment to support the economy and the markets and has announced an additional Rs.50,000 Crore TLTRO (Targeted Long-Term Repo Operation). This would be targeted at supporting corporate and smaller private entities. But the issue is that there no lending by banks nor any investment into sectors that require more support. Banks are parking with RBI on a daily basis, an amount close to Rs. 6 Lakh Crore. So whatever money they have with them and whatever they are getting from the RBI, the banks are giving back to the RBI instead of investing it or lending it. The reverse repo rate cut is to discourage thus reverse flow to the RBI. But is doubtful whether this flow can be stemmed easily. Banks are not lending or investing because they fear that under the current conditions they may be adversely impacted if they employ the money for investments or lending. Even three months back the approach of the banks was one of extreme caution”.

RBI’s relief package 2.0 announced on Friday is also expected to benefit the NBFCs and the real estate sector as it is intended at easing liquidity concern of these sectors in a big way.
Sundar Sanmukhani, Head of fundamental research, Choice broking said, “RBI’s latest announcements to infuse liquidity and expand bank credit are expected to provide big relief to the Non-Banking Financial Sector (NFBCs) as 50 per cent of the proposed TLTRO worth Rs 50,000 crore will be invested in small and mid-sized NBFCs and MFIs. The Central Bank has also relaxed NPA recognition norms for NBFCs”.

Dr. V K Vijayakumat at Geojit Financial Services said, “RBI has come out with announcements with far-reaching beneficial consequences to the financial system. Refinancing of Rs 50,000 crore to NABARD, SIDBI and NHB is another welcome move. The reclassification of NPA norms from 90 days to 180 days is a great relief to commercial banks. In brief, this is a big bazooka but with caution and prudence. Enhancement of Ways & Means Advances (WMA) to states by 60 per cent will be a relief to states stressed by the pandemic.”

Jaspal Bindra, Executive Chairman, Centrum Group said, “The RBI has shown pragmatism while announcing the second round of measures, aimed at maintaining liquidity and incentivizing credit flows. Additionally, the 90 day NPA norm won’t be applicable to loans where the moratorium is granted. This along with 1 year extension on loans given to the real estate sector will help preserve asset quality”.

Deepthi Mary Mathews, Economist, Geojit Financial Services, said, “In a span of 20 days, RBI announced the second round of liquidity boosting measures, with special focus on NBFCs and MFIs. TLTRO and reduction of reverse repo rate to 3.75 percent is expected to improve liquidity in the NBFC sector. Similarly, the loan given by the NBFCs to real estate to get similar benefits as given by commercial banks is a support to both the NBFC and real estate sector.

张国庆、车延飞、朱连科、吴耀强违法发放贷款罪一审刑事判决书

吉林省通化县人民法院
刑 事 判 决 书
（2020）吉0521刑初16号

公诉机关吉林省通化县人民检察院。
被告人张国庆，男，1971年9月29日出生，户籍所在地吉林省通化市东昌区，汉族，初中文化，原通化县农村信用合作社富江信用社主任（现通化海科农村商业银行富江支行），捕前住通化市东昌区。2014年3月20日因犯骗取贷款罪、违法发放贷款罪，被判处有期徒刑七年，并处罚金12万元；因犯违法发放贷款罪，于2018年8月2日被判处拘役三个月，并处罚金1万元，与前罪并罚决定执行有期徒刑七年，并处罚金人民币13万元。因涉嫌违法发放贷款罪，于2019年5月8日被通化县公安局刑事拘留；经通化县人民检察院批准，于2019年5月31日被通化县公安局逮捕，现羁押在通化县看守所。
辩护人姜凤，吉林方维律师事务所律师。
被告人车延飞，男，1984年10月5日出生，汉族，大专文化，党员，原通化县农村信用合作社富江信用社信贷员，个体业主，户籍所在地吉林省通化县，住长春市二道区。2014年1月14日因犯违法发放贷款罪被免予刑事处罚；2016年3月24日因犯违法发放贷款罪被免予刑事处罚。因涉嫌违法发放贷款罪，于2019年12月3日被通化县公安局取保候审；于2019年12月9日被通化县人民检察院取保候审。
被告人朱连科，男，1957年3月22日出生，满族，初中文化，党员，原通化县农村信用合作社富江信用社信贷员（已退休），户籍所在地吉林省通化县，住通化县。2014年1月14日因犯违法发放贷款罪被免予刑事处罚。因涉嫌违法发放贷款罪，于2019年12月3日被通化县公安局取保候审；于2019年12月9日被通化县人民检察院取保候审。
被告人吴耀强，男，1964年3月2日出生，满族，初中文化，通化海科农村商业银行富江支行员工（原通化县农村信用合作社富江信用社信贷员），户籍所在地吉林省通化县，住通化县。2014年1月14日因犯违法发放贷款罪被免予刑事处罚。因涉嫌违法发放贷款罪，于2019年12月3日被通化县公安局取保候审；于2019年12月9日被通化县人民检察院取保候审。
辩护人赵民，吉林昱诚律师事务所律师。
吉林省通化县人民检察院以通县检一部刑刑诉[2020]1号起诉书指控被告人张国庆、车延飞、朱连科、吴耀强犯违法发放贷款罪，于2020年1月20日向本院提起公诉。本院受理后，依法适用简易程序，由审判员白玉林担任审判长，与审判员于丽娜、邓凤文组成合议庭，于2020年3月3日公开开庭审理了本案，通化县人民检察院指派检察员贺娟出庭支持公诉，被告人张国庆及其辩护人姜凤、被告人车延飞、朱连科、被告人吴耀强及其辩护人赵民均到庭参加诉讼，本案现已审理终结。
经审理查明：2008年1月至2012年1月，被告人张国庆在任通化县农村信用合作社联社富江信用社（现通化海科农村商业银行富江支行）主任期间，在明知不符合贷款规定的前提下，指使借贷员被告人车延飞、吴耀强、朱连科违规向李某1、李某2、毕某、朴某、侯某、宋某、罗某等人违规发放顶名贷款金额共计人民币5646.8万元。其中被告人车延飞参与发放贷款人民币3426.8万元；被告人朱连科参与发放贷款人民币776万元；被告人吴耀强参与发放贷款人民币881万元。上述贷款已收回或达成还款协议共计人民币3736.5万元。案发后，被告人张国庆、车延飞、吴耀强、朱连科均如实供述了其违法发放贷款的犯罪事实。
被告人张国庆在公诉机关自愿签署了认罪认罚具结书，对公诉机关的量刑建议亦没有异议。
上述事实，被告人张国庆及其辩护人、被告人车延飞、朱连科、被告人吴耀强及其辩护人赵民在庭审中均未提出异议，并有户籍信息、贷款合同、贷款明细表、刑事判决书、情况说明等书证；证人孔某、代某等人的证言；被告人张国庆、车延飞、朱连科、吴耀强等人的供述与辩解等证据为凭，足以认定。
对被告人张国庆的辩护人提出张国庆本次犯罪的贷款数额系转贷形成，属于前罪遗漏部分，张国庆系坦白，可以从轻处罚。在公诉机关自愿签署认罪认罚具结书，可从宽处理的意见，经审查与事实相符，本院予以采纳。
对被告人吴耀强的辩护人提出吴耀强系坦白，可以从轻处罚；在共同犯罪中起次要、辅助作用，系从犯，可从轻或减轻处罚的意见，经审查与事实相符，本院予以采纳。
本院认为，被告人张国庆、车延飞、朱连科、吴耀强违反国家规定发放贷款，数额巨大，其行为均已构成违法发放贷款罪。公诉机关指控的犯罪事实清楚、证据确实、充分，指控的罪名成立，本院予以支持。鉴于张国庆系坦白，可以从轻处罚；认罪认罚可从宽处理；系在刑罚执行完毕前发现漏罪，应当数罪并罚。车延飞、朱连科、吴耀强均系坦白，且系从犯，可减轻处罚。鉴于张国庆对公诉机关的量刑建议没有异议，本院予以采纳；车延飞、朱连科、吴耀强违法发放贷款系受领导指使发放，且均系转贷产生，犯罪情节轻微，可免予刑事处罚。依照《中华人民共和国刑法》第一百八十六条、第二十五条、第二十七条、第三十七条、第六十七条第三款、第六十九条、第七十条、第四十五条、第四十七条、第五十二条、第五十三条之规定，经本院二〇二〇年第二次审判委员会讨论决定，判决如下：
一、被告人张国庆犯违法发放贷款罪，判处有期徒刑六个月，并处罚金人民币2万元；与原判有期徒刑七年，并处罚金人民币13万元并罚，决定执行有期徒刑七年，并处罚金人民币15万元。
（刑期从判决执行之日起计算，判决执行以前先行羁押的，羁押一日折抵刑期一日。即自2013年6月26日起至2020年6月25日止。）
二、被告人车延飞犯违法发放贷款罪，免予刑事处罚。
三、被告人朱连科犯违法发放贷款罪，免予刑事处罚。
四、被告人吴耀强犯违法发放贷款罪，免予刑事处罚。
五、追缴被告人张国庆违法所得人民币1775万元，其中返还干沟信用社543万元，返还富江信用社1232万元。
如不服本判决，可在接到判决书的第二日起十日内，通过本院或者直接向吉林省通化市中级人民法院提出上诉。书面上诉的，应当提交上诉状正本一份，副本二份。

审判长　　白玉林
审判员　　于丽娜
审判员　　邓凤文
二〇二〇年三月十六日
书记员　　赵金玥

The spread of COVID-19 is expected to hit Indonesian banks’ performance this year, but analysts remain hopeful that the industry will still be resilient enough to face the challenges the pandemic is bringing to the economy.

Moody’s Investors Service has downgraded Indonesia’s banking industry outlook, along with 11 other countries in the Asia Pacific region, to negative from stable over concerns of rising credit costs and declining profitability as the pandemic is disrupting the global economy.

“The coronavirus outbreak has weakened global demand and is increasingly disrupting domestic economic activity,” Moody’s wrote in a report published on April 2.

Its vice president senior credit officer of financial institutions group, Eugene Tarzimanov, further added during a webinar on Tuesday that the disruptions were expected to increase the bad loan ratio in the region, including Indonesia, as they weakened cash flows of small and medium enterprises (SMEs) and corporates in exposed industries, such as airlines, oil and gas and global shipping.

Although Bank Central Asia (BCA) economist David Sumual said on Wednesday that he could not determine how big the rise in the non-performing loan (NPL) ratio would be this year, he admitted that the ratio could increase further if the pandemic continued.

The Financial Services Authority (OJK) recorded gross NPL ratio at 2.79 percent in February, the highest level since May last year. Loan growth, meanwhile, stood at 5.93 percent in the month, reflecting the lowest expansion since November 2009, as demand plunged.

“If the pandemic continues in the next few months, the bad loan ratio could increase because economic activities would be disrupted for a longer period of time,” he told The Jakarta Post.

Such a warning was reflected in the Deposit Insurance Corporation’s (LPS) latest data showing that loan-at-risk stood at 11 percent, chairman Halim Alamsyah said during a hearing with the House of Representatives Commission XI overseeing financial matters. The figure is higher than the 10 percent rate last year.

Private-owned Bank Mayapada Internasional president director Haryanto Tjahjariadi echoed the sentiment, admitting that he expected to see an increase in bad loans as the coronavirus disease hampered economic activities in all sectors.

“However, we will try to maintain our NPL ratio at around the 3 to 3.5 percent this year,” he told the Post.

The rise in bad loan ratio is also expected to increase pressure on banks’ profitability, even on Indonesian banks, which are considered to be some of the most profitable in the world.

“Rising NPL will increase banks’ credit costs while their margins will also decrease due to the central banks’ low interest rates,” Tarzimanov said.

Bank Indonesia (BI) in March cut yet another 25 basis points off of the benchmark seven-day reverse repo rate to 4.5 percent. It also lowered the deposit facility rate to 3.75 percent and lending facility rate to 5.25 percent.

The lower rates are expected to transmit into lower banks’ interest rates, affecting consumer loans, corporate loans and mortgage interest rates. This will then translate to lower net interest margin (NIM), which usually determine a bank’s profitability.

Senior economist Aviliani said on Friday that banks’ NIM had already decreased in the past few years due to tight competition since the digital era.

Data from the Financial Services Authority (OJK) showed that banks’ NIM ratio stood at 4.91 percent in 2019, lower than the 2016 figure of 5.63 percent.

Given that the OJK has allowed more relaxed restructuring among debtors amid the pandemic, Aviliani said she expected banks’ NIM would further decrease.

Last month, the OJK issued a new regulation that relaxed debt quality assessment and restructuring requirements for debtors that are hit hard by the coronavirus pandemic, allowing them to assess the quality of a loan worth up to Rp 10 billion (US$637,795) based on only the debtor’s timeliness in paying the loan’s principal and interest.

“I think the NIM will significantly decline from April to June as the COVID-19 pandemic continues,” she said during an online discussion.

Despite the bleak outlook, she still expressed optimism that some banks could still record profits amid the less-than-favorable conditions.

“Banks that don’t rely heavily on interest income as their main revenue stream and have strong fee-based income can still book a profit despite today’s conditions,” she said.

Westpac has revealed it will suffer a $1.4 billion hit to its first-half earnings.

In a statement, Australia’s second-largest bank said the bulk of these writedowns were related to the AUSTRAC money laundering scandal.

The bank estimated that it might receive a $900 million fine for failing to prevent up to 23 million breaches of money laundering laws via its Litepay system.

If that proves accurate, it will be less than the $1 billion penalty that many banking analysts had forecast.

Westpac’s system was also used by paedophiles to send money to the Philippines to pay for child abuse material without raising any red flags.

This scandal brought down Westpac’s leadership, forcing the resignation of chief executive Brian Hartzer and the early retirement of chairman Lindsay Maxsted.

Westpac said there was “considerable uncertainty” about what the Federal Court would decide.

There was also a chance the bank might agree on an “appropriate penalty” with the regulator AUSTRAC, which the court “would have regard to but [is] not be obliged to accept”.

“The actual penalty paid by Westpac following either a settlement and joint submission on a penalty, or a hearing, and in each case as determined by the [Federal] Court, may be materially higher or lower than the [$900m] provision,” the statement said.

Westpac announced it would also take a $130 million hit to its cash earnings from improving its compliance with financial crime legislation, “support[ing] industry initiatives to enhance financial crime monitoring” and “provid[ing] additional support and resources to organisations working to eradicate child exploitation”.

Its earnings will also be impacted by $260 million due to “customer remediation activities” and “litigation matters”.

Essentially, the bank will refund business customers who were lent money in breach of the National Consumer Credit Protection Act, or responsible lending laws.

• Anti-deception unit manages to intercept about 80 per cent of the involved funds before scammers can transfer it out of city bank accounts
• While the number of reported email cases for January and February does not vary greatly from 2019, the amounts involved have more than doubled

The US branch of a Japanese bank has been tricked into transferring HK$310 million (US$40 million) into five Hong Kong bank accounts – one of the city’s biggest email scams of the year.
A force insider said officers from the Anti-Deception Coordination Centre managed to intercept nearly HK$240 million of the money before it was transferred out of the scammer-controlled bank accounts, but the international fraudsters still managed to bag about HK$70 million.
The sting was one of 139 reported cases of commercial email fraud in the first two months of the year. The cases involved nearly HK$700 million, more than double the HK$288 million from January and February 2019’s 113 cases.
The Japanese case came to light in January, when the bank made a report to Hong Kong police.
Scammers impersonating one of the bank’s customers had made the money transfer requests, according to one police source.
“Bank staff realised it was a scam when they contacted the genuine client,” the source said. The anti-fraud officers were then tasked with tracking down the money.

按照《中国银保监会办公厅关于加强商业保理企业监督管理的通知》（银保监办发﹝2019﹞205号）要求，结合我省实际，陕西省地方金融监督管理局联合陕西省公安厅、陕西省市场监管局、中国人民银行西安分行以及中国银保监会陕西监管局五部门决定在陕西省开展商业保理企业清理规范工作。

下附文件全文。

01

总体要求

紧紧围绕服务实体经济、防控金融风险、深化金融改革三项任务，参照国家发展改革委、商务部《市场准入负面清单（2019年版）》有关规定，通过清理规范工作，落实属地责任，实施分类处置，开展联合惩戒，推进日常监管，进一步规范商业保理企业经营行为，有效防范和化解风险隐患，促进商业保理行业规范健康发展。

02

清理规范对象和分类

（一）清理规范对象。

营业执照名称中含“保理”等字样的企业；营业执照名称不含“保理”等字样但经营范围含保理业务的企业，兼营保理业务的融资租赁企业除外。

（二）清理规范分类。

按照经营风险、违法违规情况划分为正常经营、非正常经营和违法违规经营等三类。（具体认定标准参照《公司法》《公司登记管理条例》《税收征收管理办法》《企业经营异常名单管理暂行办法》《严重违法失信企业名单管理暂行办法》等）。

1.正常经营类是指依法合规经营的企业。对于接受并配合监管、在注册地有经营场所且登录“商业保理信息管理系统”完整填报信息的企业，各地市金融监管部门要按照企业注册地审核以下材料：

a.营业执照；

b.公司章程；

c.股东名单；

d.高级管理人员名单和工作简历；

e.经审计的近两年财务会计报告（含附注）和年度经营情况简要说明；

f.法定其他资料。

2.非正常经营类是指包括但不限于“失联”“空壳”“僵尸”企业。

（1）“失联”企业是指满足以下条件之一的企业：

a.无法取得联系；

b.在企业登记住所实地排查无法找到；

c.虽然可以联系到企业工作人员，但其并不知情也不能联系到企业实际控制人；

d.连续3个月未按照监管要求报送月报。

（2）“空壳”企业是指满足以下条件之一的企业：

a.上一年度市场监管部门年度报告显示无经营；

b.近6个月监管月报显示无经营；

c.近6个月无纳税记录或“零申报”；

d.近6个月无社保缴纳记录。

（3）“僵尸”企业是指满足以下条件之一的企业：

a.公司成立后无正当理由超过六个月未开业的；

b.开业后自行停业连续6个月以上的。

3.违法违规经营类是指经营行为违反法律法规和银保监会相关规定的企业。包括但不限于基于不合法基础交易合同开展商业保理业务；未经批准未获得许可违规开展商业保理业务；直接或变相开展贷款或受托贷款、受托投资等业务；高利贷、现金贷、“套路贷”；直接或间接从事非法集资，通过债权（收益权）转让、资产证券化、定向委托投资等形式变相向社会公众募集资金；专门从事或受托开展催收业务、讨债业务。

03

重点工作任务及步骤

（一）全面清理规范，做好分类处置。

全面审核，截至2020年3月底。各地市金融监管部门要通过落实银保监办发（2019）205号文件及《陕西省地方金融监管局关于进一步加强商业保理企业监督管理的通知》（陕金发﹝2019﹞40号）各项监管指标和要求，在商业保理行业专项清理排查活动的基础上，根据市场监管、税务等部门提供企业相关信息，采取非现场核查和现场检查等措施，查阅和审核企业资料后将企业名单和佐证资料报送省地方金融监管局。“僵尸”企业由各地市金融监管部门会同市场监管部门依法吊销其营业执照。

(二)限期整改，截至2020年4月底。

非正常经营类和违法违规情节较轻的企业由各地市金融监管部门审核后进行公告（限期一个月整改），各地市金融监管部门要按照银保监会相关监管要求督促企业及时进行整改。

营业执照名称中含“保理”等字样的“失联”“空壳”企业，各地市金融监管部门要劝导其申请变更企业名称或自愿注销。

营业执照名称不含“保理”等字样但经营范围含保理业务的非融资租赁企业的“失联”“空壳”企业，各地市金融监管部门要劝导其申请变更企业业务范围或自愿注销。

（三）复核验收，截至2020年5月底。

各地市金融监管部门要加强部门相互之间协作，严格整改验收工作程序和要求，做好分类处置。经过整改验收合格的，可分别纳入监管名单报送省地方金融监管局。

非正常经营类企业拒绝整改或整改验收不合格的，各地市金融监管部门要依法采取分类处置措施。会同市场监管部门依法将其纳入异常经营名录或吊销营业执照；同时将营业执照名称中含“保理”等字样的“失联”“空壳”企业列入重点监管对象。

违法违规类企业整改验收不合格或违法违规情节严重的，各地市金融监管部门要报告省地方金融监管局进行依法处置或取缔；未经批准未获得许可违规开展商业保理业务的，会同相关部门依法查处；涉嫌从事非法集资的，由地方处非部门牵头开展处置工作；涉嫌违法犯罪的，及时移送公安机关依法查处。

（四）纳入监管名单。

正常经营类、非正常经营类验收合格和违法违规情节较轻且验收合格的企业纳入监管名单，由省地方金融监管局审核汇总报告银保监会审核后分批次进行公示。各地市金融监管部门要按照银保监办发﹝2019﹞205号文件和《陕西省地方金融监管局关于进一步加强商业保理企业监督管理的通知》（陕金发﹝2019﹞40号）相关监管要求进行日常监管，待商业保理企业监管办法出台后，非正常经营类和违法违规类监管名单内企业由市级金融监管部门初审后报省地方金融监管局审核，报经银保监会审核后纳入商业保理信息监管系统；对未能纳入监管名单的企业，各地市金融监管部门应建立重点监管对象名录库，加强跟踪管理，引导企业良性退出。

为推动我省典当行业健康发展，根据银保监会“管机构、管合规、管行为、管风险”的监管要求，决定对全省典当行业开展清理规范活动。

下附文件全文。

01

清理整顿的目的

本次清理整顿的目的是打击非法经营，保护合法经营，规范典当行为，加强典当行业的监督管理，维护正常的典当行经营秩序，促进典当行业的健康发展，并对符合条件的典当行核发《典当经营许可证》。

02

清理整顿的范围

持有《典当经营许可证》的所有典当行。

03

清理整顿的内容

(一)典当行有下列情形之一的，应当责令其限期整改，并依照有关法律、法规予以处理：

1.擅自变更机构名称、法定代表人、住所、注册资本、股权结构，自行改变组织形式的；

2.经营非绝当物品销售以及旧物收购、寄售或者收当禁收物品的；

3.在当期内出租、质押、抵押和使用当物，违规处理绝当物品，以及强迫当户赎当的；

4.超出《典当管理办法》规定上限收取利息、费用以及预扣利息的；

5.规章制度不健全、内部管理混乱以及安全防范设施不合格、存在治安隐患的；

6.半年不能连续正常营业的；

7.抽逃注册资本、对外投资的；

8.出资人或从业人员不符合《典当管理办法》规定条件的。

对于问题严重及影响恶劣的典当行，应立即停业整顿。在规定期限内整改合格的予以保留，核发《典当经营许可证》。拒不整改或者整改后仍达不到《典当管理办法》要求的，予以撤销。

(二)有下列情形之一的，吊销其《典当经营许可证》：

1.虚假出资、骗取审批；

2.有严重违法经营行为(包括吸收存款或者变相吸收存款、非法集资、拆借资金、发放信用贷款、故意收当赃物)的；

3.自行停业连续达6个月以上的；

4.未经批准设立或变相设立的分支机构；

5.2018年度未能通过特业年审，被公安部门收回《特种行业许可证》的；

6.涉黑涉恶；

7.营业执照被工商行政管理机关吊销的。

04

时间安排和组织领导

本次清理整顿工作分为三个阶段，从2020年4月1日开始。第一阶段为调查摸底阶段，各地市组织力量对本辖区内持有《典当经营许可证》的所有典当行进行一次全面的摸底调查；第二阶段为集中清理整顿阶段；第三阶段为汇总上报阶段，各地市全面总结清理整顿工作情况，并于2020年9月31日前上报省地方金融监督管理局。其中，典当行数量较少或者工作进展较快的地市可以提前上报。

各地金融工作局（办）、咸阳市商务局、延安市商务局会同同级公安机关联合开展本次清理整顿工作，必要时可以成立典当行业清理整顿工作协调领导小组，有条件的可以邀请相关部门参加。各地应当把清理整顿典当行业作为整顿与规范市场经济秩序的一项重要工作抓紧抓好。

清理规范完成后，典当行持《典当行经营许可证》和公安部门申请核发的《特种行业许可证》方可参加2019年度年审工作。

China’s central bank may be re-pegging the yuan’s exchange rate against the US dollar to avert the threat of a financial crisis and create a sense of stability amid the huge economic and financial uncertainties resulting from the coronavirus pandemic, according to analysts.
While the central bank has never publicly admitted that it would peg the yuan to the US dollar, in the current economic and financial environment, Chen Yulu, a deputy governor at the PBOC, said late last month that the yuan would fluctuate around the level of 7 yuan “in the future”.
Such a move would mirror the strategy Beijing adopted a decade ago given heightened uncertainty in the aftermath of the global financial crisis. The People’s Bank of China (PBOC), the nation’s central bank, effectively held the US dollar-yuan exchange rate at 6.83 from late 2008 until June 2010.
Analysts said that Chen’s comments signalled Beijing’s reluctance to weaken the yuan substantially despite economic challenges, and pointed to the central bank considering the adoption of a de facto peg in the yuan exchange rate.
“PBOC leaders have hinted they may be targeting seven,” said Cliff Tan, East Asian head of global markets research at MUFG Bank. “Although we are not sure how a stronger currency helps in a post-Covid-19 adjustment”.
Analysts said the phase one trade deal signed with the United States in January also included an exchange rate provision that prohibits competitive currency depreciation.

“Since the environment has turned into quite an emergency now, [the PBOC] is using moral suasion to boost confidence and anchor expectations for the currency,” said DBS Bank economist Nathan Chow. “There can be no sharp and rapid depreciation in the yuan now since that would make matters worse.
“Once you start pegging the currency, fund managers and traders will continue to speculate when you will do it again the next time. This would reverse previous reforms to make the yuan [exchange rate] more market driven.”
The yuan plummetted to 7.16 against the US dollar in mid-March, its weakest level in five months, amid a crash in global stock markets as investors scrambled for the perceived safety of US dollar assets. But the Chinese currency has stabilised in the past week or so and traded at 7.07 on Thursday.

Myanmar has granted operating licences to seven Asian banks, bringing to 20 the number of foreign banks allowed to do business in the previously isolated market.

Bank of China (Hong Kong), Taiwan’s Cathay United Bank and Mega International Commercial Bank, Industrial Bank of Korea, Seoul-based KB Koomin Bank, Korea Development Bank and Siam Commercial Bank of Thailand were granted preliminary licences, the central bank’s licensing committee said in a statement on Friday (April 9).

The approval gives the lenders nine months to demonstrate they can fulfill business plans laid out in their application to the authorities before they will be given proper licences, the statement said.

This licensing round was opened last November with hopes of drawing foreign investments at a time the government was under pressure to speed up economic reforms before the parliamentary elections expected later this year.

A branch licence allows a range of wholesale banking activities, while a subsidiary licence allows both wholesale and, from January 2021, onshore retail banking services. A branch licence and subsidiary licence require a minimum paid-in capital of US$75 million and $100 million respectively.

The Myanmar Times understands that more than 10 foreign banks, including Taiwan’s First Commercial Bank and China Trust Banking Corp, Korea’s KEB Hana, Kasikorn Bank and Krungthai Bank of Thailand, and Commercial Bank of Ceylon, had been considering applying for preliminary licences. The central bank did not say how many had submitted applications.

The seven licences were the first granted since Daw Aung San Suu Kyi’s National League for Democracy party formed a government in 2016.

There were two licensing rounds under U Thein Sein’s government. The first in 2014 saw nine banks awarded, and the 2016 round granted licences to four Asian banks.

In total, there are 13 non-Myanmar lenders currently allowed to operate in a limited capacity. Another 51 banks and finance companies have representative offices, while there are 27 local banks. Banking services are still severely limited in the country and are dominated by financial institutions with ties to the former military regime.

The uncertainty around the global coronavirus pandemic’s duration and severity creates “major downside risks” to the US economy, the Federal Reserve said Wednesday.

The United States is sure to take a hit in the near term as businesses are forced to close and consumers are confined to their homes, the Fed said in the minutes of the March 15 emergency policy meeting, when the central bank slashed the benchmark interest rate to zero.

But while the shutdowns imposed to contain the virus create hardship for businesses and households, they should not have the lasting impact that was seen in the wake of the global financial crisis in 2008, Fed officials said.

Though central bankers worried that the containment efforts would spread to other areas of the country and have a ripple effect on the economy, the meeting was held before the most stringent lockdowns were imposed in most states.

In the final two weeks of March, nearly 10 million people filed for unemployment benefits, and economists expect the jobless rate to hit double digits this month.

But at the time of that emergency meeting – the second unscheduled meeting last month, which was held on a Sunday – officials said, “The unpredictable effects of the coronavirus outbreak were a source of major downside risks to the economic outlook.”

When growth will resume depends “on the containment measures put in place, as well as the success of those measures, and on the responses of other policies, including fiscal policy.”

Since then, Congress has approved three support packages, including a massive US$2.2 trillion rescue measure that puts money into unemployment insurance and emergency lending for small businesses to pay workers.

Despite the severity of the current crisis, members of the Fed’s policy-setting Federal Open Market Committee said the US economy and banking system were on solid footing.

Some officials viewed the pandemic as “not directly comparable with the previous decade’s financial crisis and it need not be followed by negative effects on economic activity as long-lasting as those associated with that crisis.”

Some committee members were reluctant to cut the interest rate by a full point less than two weeks after lowering it a half point, concerned in part about the negative signal that would send about the economic outlook.

But the majority favored a “forceful” response, including the measures the Fed has taken to pump huge amounts of liquidity into the US financial system, to help support businesses facing cash shortages.

They worried about low-income households with “less of a savings buffer” making them “more vulnerable to a downturn in the economy.”

As stay-at-home orders to battle the coronavirus are effective in most states, the virus-related restrictions have already shed 29 percent of US daily output, Moody’s Analytics warns as cited by the Wall Street Journal.

The full scale of economic disaster stemming from almost countrywide closures of businesses in various industries — from entertainment to retail — will not be seen for years. However, the first estimates have already started to emerge, and the picture is quite gloomy. 

According to Moody’s study, which was carried when 41 states shut down non-essential businesses, California alone lost $2.8 billion a day, equivalent of more than 31.5 percent of the state’s daily gross domestic product (GDP).

The drop of output in 15 other states, responsible for almost 70 percent of all the US daily GDP, is $12.5 billion, while 30 other states together with Washington DC are losing a total of $4.9 billion of GDP per day.

The economic fallout (in terms of output drop) of the coronavirus crisis has already turned worse that the consequences of the 9/11 terrorist attacks, according to the agency’s data. As the result of three weeks of government-imposed closures, US output tumbled by around $350 billion, while the attacks had cut it by an estimated $111 billion in current dollars.

MVB Financial Corp. (NASDAQ: MVBF) (“MVB Financial” or “MVB”) and its wholly-owned subsidiary MVB Bank, Inc. (“MVB Bank”) announced that MVB Bank has purchased the deposits and certain assets of The First State Bank (“First State”) through an agreement with the Federal Deposit Insurance Corporation (FDIC). The West Virginia Department of Financial Institutions declared First State insolvent today and appointed the FDIC as receiver. The purchase by MVB Bank is effective immediately. As of December 31, 2019, First State had approximately $139.5 million in total deposits.

“We are pleased to welcome the clients of First State to the MVB family and want to assure them that their deposits are safe, secure and readily accessible. It will be business as usual on Saturday at all of the former First State banking centers and drive-thru locations as First State becomes a part of MVB Bank,” said Larry F. Mazza, President and CEO, MVB Financial. “As a trusted partner on the financial frontier, we are committed to the success of the clients and communities we serve.”

All deposits are being assumed by MVB Bank resulting in no losses to any depositor. Client deposits will continue to be insured by the FDIC up to applicable limits, and clients do not need to take any immediate action to maintain that insurance coverage. Over the weekend, First State clients will be able to access their money by writing checks, accessing online banking or using an ATM or their debit card. Banking centers will operate under normal business hours on Saturday. To protect the health and safety of Team Members and clients during the ongoing COVID-19 situation, banking center lobbies will be open by appointment only.

“MVB Bank’s strong financial position has enabled us to complete this strategic purchase. Our solid performance validates our focus on asset quality, liquidity and strong capitalization,” Mazza said. “This acquisition aligns with MVB’s strategy for growth in our core commercial markets in West Virginia and Northern Virginia, which also powers our expanding Fintech vertical.”

Clients of First State with questions about the transaction may call the FDIC directly at 1-800-517-1839.

About MVB Financial Corp.

MVB Financial Corp. (“MVB Financial” or “MVB”), the holding company of MVB Bank, Inc., is publicly traded on The Nasdaq Capital Market® under the ticker “MVBF.” Nasdaq is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its subsidiary, MVB Bank, Inc., and the Bank’s subsidiaries, MVB Mortgage, MVB Community Development Corporation and Chartwell Compliance, the company provides financial services to individuals and corporate clients in the Mid-Atlantic region and beyond. For more information about MVB, please visit http://ir.mvbbanking.com.

Forward-looking Statements

MVB Financial Corp. (the “Company”) has made forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in this Press Release. These forward-looking statements are based on current expectations about the future and subject to risks and uncertainties. Forward-looking statements include, without limitation, information concerning possible or assumed future results of operations of the Company and its subsidiaries. When words such as “plans,” “believes,” “expects,” “anticipates,” “continues,” “may” or similar expressions occur in this Press Release, the Company is making forward-looking statements. Note that many factors could affect the future financial results of the Company and its subsidiaries, both individually and collectively, and could cause those results to differ materially from those expressed in the forward-looking statements contained in this Press Release. Those factors include but are not limited to: credit risk; changes in market interest rates; inability to achieve anticipated synergies; ability to successfully integrate recent mergers and acquisitions, including First State; competition; length and severity of the recent COVID-19 (coronavirus) outbreak and its impact on the Company’s business and financial condition; economic downturn or recession; and government regulation and supervision. Additional factors that may cause our actual results to differ materially from those described in our forward-looking statements can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019, as well as its other filings with the SEC, which are available on the SEC website at www.sec.gov. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements.

After posting better-than-expected results for 2019, Chinese banks face the prospect of worsening asset quality and pressure on profits this year, as the coronavirus pandemic takes a toll on the global economy, bankers and analysts said.
With the pandemic now having spread to more than 200 countries and claiming more than 52,000 lives, bankers said they expected a bigger impact on China’s economy. Since the country plays an outsize role in the global supply chain, its banks are likely to take a hit should the global economy contract this year, which seems like a real possibility, they said.
“If the global coronavirus is not contained by the third quarter, this will have a great impact on the Chinese economy [and] on Chinese banks,” Zhang Gengsheng, executive vice-president of China Construction Bank (CCB), said during a teleconference held this week to discuss the bank’s annual results.
The deadly virus, which causes the Covid-19 respiratory disease, brought most of China’s economy to a halt in late January and February after authorities took measures to contain the outbreak. This has already translated into more overdue loans and a drop in growth in new customers, especially for banks’ credit card and retail loan businesses, bank officials said.
“We saw a pickup in overdue loans, primarily in the credit card and personal loans segments, in January and February,” Jin Yanmin, CCB’s chief risk officer, said. “Overall, for the full year, we expect non-performing loan [NPL] ratios for our micro-small business loans segment to steadily tick up.” He, however, added that overall asset quality was improving.
Both CCB and the Industrial and Commercial Bank of China, the largest lender globally by assets, said about 5 per cent of their small and medium-size business borrowers had requested an extension of loan repayments. Last month, regulators announced special measures allowing borrowers affected by the outbreak to extend their loan repayments up to the end of June.
The 10 major Chinese banks covered by brokerage CMB International Securities have reported, on average, an 8.6 per cent year-on-year net profit growth for 2019, compared with 6.1 per cent in 2018. These include the six major state-owned lenders, such as CCB, Agricultural Bank of China and Bank of China, and joint-stock banks such as China Merchants Bank and Ping An Bank.
NPL ratios were largely stable at the state-owned banks, at around 1.4 per cent. But CMB International Securities analyst Terry Sun expected NPL pressure to worsen during the second quarter and second half of this year.
“Companies’ existing orders and cash-on-hand will still be able to support their loan repayment in the first quarter, but lack of demand [for their products] and break of the supply chain will amplify the impact in the second and third quarters, even as companies increasingly resume work,” Sun said.
Net interest margin (NIM), a gauge of bank profitability, was largely stable for most banks during the fourth quarter of 2019, Morgan Stanley analysts including Richard Xu and John Cai said in a note.
“However, most banks expect more NIM pressure in 2020, citing existing loans pricing conversion (to loan prime rate) amid challenging domestic and global macro environments, and resilient deposit costs,” they said.