![[톡톡!금융]One line will grow like this… Credit loan principal installment repayment’one wave’](https://image.edaily.co.kr/images/Photo/files/NP/S/2021/01/PS21012600102.jpg "[톡톡!금융]One line will grow like this… Credit loan principal installment repayment’one wave’")
This is what a financial authority official said about the installment payment of large credit loans. He said that his interest was so great that it was burdensome. The Financial Services Commission explained that a detailed implementation period and detailed blueprint have not yet been prepared for the repayment of principal installments on large credit loans. It is drawing a line as “one of the examples” that can be entered into the “Household Loan Advancement Plan” to be announced in March.
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Authorities turn off the lights after mentioning’credit loan in installments’
The reason why the installment payment of large credit loans appeared in the media was the’work plan’ announced by the Financial Services Commission on the 19th. The business plan is to introduce what the FSC will focus on this year. This is the most important schedule at the beginning of the year for government departments. In this year’s business report, the Financial Services Commission stated that “reviewing measures to strengthen the management of large credit loans that have been increasing rapidly in recent years” and “(Example) obligating principal installment repayment for credit loans exceeding a certain amount” were stated.
After the data came out, attention was focused. This is because it affects consumers who have received or plan to receive credit loans. This is because, unlike home mortgage loans, which are based on installment payment of principal, credit loans pay only the majority of interest and then pay the principal at the end. Inquiries about what the’constant amount’ is and when will it be introduced were followed.
On the 20th and 22nd, the Financial Services Commission came up with explanatory data saying that it has not been decided yet, and that it was presented as one of various options that could be reviewed. It is very unusual to submit explanatory materials twice a week about a policy.
However, it is clear that the authorities are taking this option seriously. This is because the’work plan’, which summarizes the tasks that the financial authorities will focus on this year, is not only made with simple ideas, but also because such a suggestion came out at various household debt debates last year in which Democratic Party lawmakers and government officials participated.
Finance Commissioner Eun Seong-soo also met reporters right after the report was announced, saying, “It’s a loan that must be paid off eventually, but if you divide it little by little, it will help the borrower and the bank will be healthy.” “I will talk with the financial sector about’excessive degree (high standard).’ He said about the future plans.
From the balloon effect of the headline regulation to debt… 26 trillion won increase in last year alone
As of the 21st of this month, the credit loans of the five major banks (KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup) amounted to 134.3 trillion 958.3 billion won. In January of last year, it was 109 trillion won, but it jumped to 117 trillion won at the end of June, and it is showing an increasing trend. As the government came up with high-strength real estate measures, demand from the main line was rushing to credit loans, and from the end of last year, the stock investment boom began, adding to the’debt investment’. The financial authorities are in a position to prevent excessive loans beyond their repayment capabilities.
According to the government’s analysis, after introducing the installment of principal to the main dam starting in 2011, there was a desired effect. An official from the Financial Services Commission said, “When looking at the behavior of mortgage loans from 2003 to 2004, 85% paid only interest for 3 years, and repaid when the house price rises after 3 years and earned a profit.” “There is a side where the soundness has been reconsidered by steadily expanding the product.”
In addition, the current credit loans pay off the principal at one time at maturity, so there are cases where the purpose of the loan is not clear, but’let’s get it and see’. If payment in installments is made mandatory, such demand for credit loans can be reduced.
However, when the system is introduced, the repayment amount that the borrower must pay to the bank each month of course increases. In addition, the loan limit can be reduced. Earlier, the financial authorities announced that they would switch from managing the total debt principal repayment ratio (DSR) for each financial company to a DSR review for each borrower. DSR is the annual principal and interest repayment of all household loans divided by annual income. If this includes the amortization of the principal amount of credit loans, the individual DSR increases and the limit of other loans such as home mortgage loans decreases. In reality, it is difficult to receive large credit loans.
The broken ladder… Is it possible to regulate youth deprivation?
The loan market is in a mad mood ahead of the introduction of new regulations. As the demand to accept credit loans increased, the balance of the five major banks’ credit loans increased by 73.1 billion won over the two days from the 19th to the 20th. In addition, it is predicted that regulations may be introduced to negative bankbooks that are excluded from the installment of principal, and more than 30,000 negative bankbooks have been opened this year.
It is known that the authorities are struggling with policies while seeing the demand for the’last car’ of credit loans. As the Corona 19 situation continues, it plans to simulate various methods of how to select high-priced credit loans used for the purpose of buying a home or investing in stocks while the credit supply itself continues.
At present, the most feared by the financial authorities is the feeling of deprivation of the youth. An official from the Financial Services Commission said the biggest challenge is to make sure that the feeling of deprivation of raising the price of real estate and kicking the ladder to prevent loans does not lead to the amortization of large credit loans.
In fact, in this work plan, the Financial Services Commission maintains the stance of supplying sufficient credit for the common people and small business owners under the’mandatory repayment of principal installments of large credit loans’, and finances the housing ladder for youth and homeless people by introducing long-term mortgages and expanding preferential conditions The emphasis is on strengthening support.
The 40-year mortgage loan (main charge), which will be introduced as a pilot project in the second half of this year, is also expected to be provided to young people and newlyweds who are increasingly marginalized in the real estate market. However, the monthly repayment amount has also decreased for the 40-year-old, and as the period of interest payment increases, the burden itself increases. It is a subtle point where young people feel this as a’residential ladder’.
An official from the Financial Services Commission said, “Every time I create a system, I keep thinking that it is very difficult.” “The policy cannot satisfy everyone, but we will focus on reducing the side effects as much as possible.”