In March, it was found that commercial bank credit loans surged by 1 trillion won.
Credit loans, which had declined slightly last month, increased again this month, in addition to the financial authorities’ notice of super-strong loan regulations coming out in the middle of this month, as well as the analysis that some demand for `debt investment (investing in debt)` was added during the recent stock market adjustment period. The recent rise in bond rates in the money market and this is expected to lead to a rise in loan rates again, making a warning sound about an increase in household debt, which is noteworthy.
According to the financial sector on the 9th, the credit balance of the five major banks, including KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup, was estimated at 13.6 trillion 2009 billion won as of the 5th. Compared to the end of February (135 trillion 1683 billion won), it increased 1.326 trillion won in just 4 business days. Commercial bank credit loans, which have been on the rise since the second half of last year, declined slightly compared to the previous month in February, and then surged again in March.
These five major banks’ new negative bankbooks are also being opened more than 2,100 per day following last month. In Bank A, the number of accounts opening negative bankbooks increased from 283 on the 2nd to 306 on the 5th.
It is analyzed that the increase in bank credit loans is a phenomenon caused by the rush of demand to receive loans ahead of the financial authorities’ announcement of a household debt management plan in the middle of this month. The Financial Services Commission announced that it will change the current regulation on the total debt principal repayment ratio (DSR) by financial institution to each borrower (individual). If 40% of the DSR is applied to each borrower, the personal credit limit is reduced. In addition, for large credit loans, the company also announced the mandatory amortization of principal.
Earlier in November of last year, the financial authorities announced a 40% DSR regulation on credit loans exceeding 100 million won for high income earners with an annual income of over 80 million won. It has soared.
Some say credit loans are on the rise due to the longevity caused by the prolonged COVID-19 outbreak, and some say that tightening regulations saying that they will prevent debt will come as a burden to the common people. In particular, the interest burden is increasing as the interest rate on credit loans is on the rise due to the recent inflation pressure and the rise in market interest rates.
According to the Bank of Korea, the average credit loan interest rate based on the amount of new domestic banks handled was 2.92% at the end of July of last year, exceeding 3% to 3.01% in November of the same year, and rose to 3.46% in January of this year. As a result, those who took bank loans and invested in stocks are seeing snowball losses. An official from the financial sector said, “People who are trying to get a loan due to life hardships are anxious that they will not be able to receive loans due to household loan regulations, and some are worried about higher interest rates and falling stock returns. In addition to the increased interest burden, there is also growing concern that the stock market may suffer from a’double high’.
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