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In the new year, the use of negative bankbooks (limit loans) by the five major banks is rapidly increasing. It is pointed out that the number of cases in which the limit of negative bankbooks has been reduced for each bank due to high-intensity lending regulations has increased sharply even though they are not needed right now. It is pointed out that the excessive “loan tightening” policy encourages the use of loans other than real demands in advance.
◆Use of 5 major bank’Matong’ increased rapidly in 12 days
According to Shinhan Kookmin Hana Woori Nonghyup Bank on the 15th, the balance (used amount) of these banks’ negative bankbooks (limited loans) as of the 12th recorded 47,513 trillion won. Less than two weeks into the new year, 635.3 billion won increased. This is a figure comparable to the balance of last November (47,526.7 billion won), which maximized the loan movement of’young people’ (attracting souls) due to the announcement of high-income loan regulations.
The increase in the amount of use of negative bankbooks is largely due to the movement to’debt investment’ (debt-based investment) in line with the booming stock market. Because interest rates have fallen so far, many consumers think that it is better to make profits from stocks even if they pay interest on negative bankbooks.
Banknotes say that the trend of increasing the use of negative bankbooks due to recent loan regulations has ignited. This is because each bank is raising the threshold of negative bankbooks in order to meet the stance of the financial authorities’ “restriction of credit loans”. In particular, when the contract is extended, the number of places where the new limit is drastically reduced unless 50% of the existing limit is used.
There are also cases in which the preferential interest rate is reduced and the interest rate is higher than before. Mr. A, a 30-year-old office worker, said, “Last year, I was using a negative bankbook in the late 2% range, but when I tried to extend it recently, the interest rate jumped to close to 5% a year. Said.
As a result of this, it is analyzed that the movement to’write first, see’ before the negative banking condition worsens. There is no place to spend money right away, but it is a move to protect the’hole’ of the loan. Mr. B, a 30-year-old office worker, said, “I broke the limit of the negative bankbook up to 80 million won and used only 30 million won. No, I used it in advance because it would be difficult to buy a house later or if the loan balance was reduced when it was urgently needed.” In addition, it is said that there are cases where funds are removed from a negative bank account and transferred to another bank account as if’parking’ (parking) immediately before the contract extension.
◆’Household demand’ explosion due to excessive loan regulation
It is pointed out that the excessive credit lending regulations that have continued since last year are making loans to consumers rather than end users. As a result of the survey by the Korea Economic Daily, the amount actually used in the negative bankbooks of the five major banks was 4,475 trillion won until September of last year. Compared to the same period last year, it was only 5.5% (350 billion won).
However, demand surged in November as high-income earners strengthened the DSR (Total Debt Principal Repayment Ratio) regulation and reduced the limit on professional loans. Only between September and November, the use of negative bankbooks of the five major banks increased by KRW 3.479.4 trillion. This is 10 times the increase of the previous year. An official from the banking sector said, “Since then, due to the contraction of the loan market due to the management of household loan targets at the end of the year, the number of consumers looking for loans is increasing as the anxiety that the regulation may increase again in the new year is growing.”
Banks are in a position that as long as the government’s stance of lending restraints continues, worsening credit conditions are inevitable. The financial authorities recently ordered a gathering of banking practitioners to “closely monitor the behavior of high-income people, such as investing in debt.” Accordingly, it is an analysis that banks are highly likely to continue raising the loan threshold by lowering interest rates or adjusting limits on credit loan products for the time being.
Reporter Jeong So-ram/Kim Dae-hoon [email protected]