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Slowing down until May, but increasing starting in June
Credit appears to have increased due to measures 6-17
Possibility of financial authorities to impose sanctions on ‘credit loans’
Photo = Yonhap News
As government real estate regulations restricting home loans continue, commercial bank loan balances are increasing rapidly. It started right after the introduction of the real estate measures of 6/17, which regulate most of the metropolitan area. It is observed that the financial authorities will enter the procedure to tighten the credit credit window.
According to the financial industry on the 3rd, the credit limit of the top five commercial banks, including Shinhan, Woori, Kookmin, Hana, and Nonghyup, at the end of August was 124.27 trillion won. Compared to the previous month (120 billion 204.3 billion won), it increased by 4.704 billion won, and this year alone it increased by 10.293.5 billion won.
The balance of credit loans increased less than 1% until last May. Due to the impact of the 12/16 real estate measures announced at the end of last year, the average monthly increase remained at 500 billion won.
With the implementation of the June 17 measures, the balance of credit loans increased dramatically. At the end of June, the loan balance increased by 3 trillion won compared to the previous month, and in July it also increased by almost 3 trillion won. Then last month’s increase expanded to 4 trillion won.
It is analyzed that the demand for housing funds has flowed to credit credits since the credit limit in the new regulated area is reduced due to the measures of June 17. A commercial bank executive said: “As real estate regulations continue in a situation where low interest rates continue due to the aftermath of the new coronavirus infection (Corona 19), demand from the head office will be it has partially displaced credit loans. ” “I’m crazy.”
According to the Bank of Korea, the deposit bank loan interest rate (weighted average, based on the new amount handled) in July was 2.70% per annum. It’s the lowest since the statistics were compiled in 1996. Experts predict that the interest rate on last month’s loans would have been lower.
Photo = Yonhap News
Some say that financial authorities have stimulated demand for credit loans. It is said that the so-called “ do not ask for credit loans ”, which are received before it is too late, has increased by ordering a special management and supervision of credit loans to banknotes. The stock market boom also contributed to this. In the stock market, underwriting margins are skyrocketing to the tens of trillions before the IPO. With recent fluctuations, individual stocks continue to receive support. Demand for funds has increased as investment in foreign stocks has increased.
Some predict that if the rise in credit loans continues, financial authorities may impose penalties to prevent it. The Total Debt Principal Repayment Ratio (DSR) is lowered or, if there is a credit loan, the home loan review becomes more difficult.
The balance of demand deposits of commercial banks that can be contracted at any time is also increasing. At the end of August, the balance of demand deposits for the top five banks was 536.5578 million won, an increase of 13,295.3 million won from the previous month (523.372.5 million won). A banking sector official said: “Funds received from credit loans are tied to demand deposits because they cannot find a place to go immediately.” It seems that more money has arrived. “
Yoon Jin-woo, Hankyung.com reporter [email protected]
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