The counter of a branch of Shinhan Bank in Seoul on the 23rd of last month. Unlike last month, when all banks’ credit loans declined slightly as each bank blocked their credit loans, credit loans have increased sharply from the beginning of this year. yunhap news
In less than a month into the New Year, more than 30,000 negative bankbooks (Matong) were opened. This seems to be because the demand for’debt investment’ increased as the stock market heated up from the beginning of the year.
According to the five major commercial banks including KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup on the 24th, the number of new negative bankbooks opened by these banks reached 31,305 in 14 business days as of this month. On average, over 2,000 matongs are being made per day. As of the 21st, the balance of Matong was 47,2,076 billion won, which increased by nearly 680 billion won this year alone.
This seems to be due to the fact that money is being directed to the stock market. In the domestic stock market this year, individuals net purchase worth of 14.500 trillion won and are playing the role of a’big hand’ supporting KOSPI 3,000.
According to the Korea Financial Investment Association, investor deposits in the form of stock market waiting funds are approaching 70 trillion won. It reached a record high of KRW billion. That means individuals are pulling money from virtually anywhere possible to invest in stocks.
While the financial authorities are making a move to introduce regulations on large credit loans, negative bankbooks are expected to be out of regulation and will continue to be popular for the time being. In order to manage household debt, the Financial Services Commission is pursuing a mandatory installment repayment of principal and interest in the case of large credit loans. In the event of regulation, loans for the purpose of’debt investment’ or’perpetual’ become difficult as the principal amount of millions of won per month must be paid off with interest. However, in the case of negative bankbooks, it is difficult to apply regulations because the loan amount is not fixed.
As of the 21st, the balance of the five major banks’ credit loans is around 134.3 trillion won. Compared to the end of last year, it has increased by about 1.3 trillion won, but it is still not close to the monthly loan limit (2 trillion won) managed by the authorities. Earlier this year, as the credit balance increased rapidly, the authorities called each bank manager and ordered special attention to household debt management.
An official from a commercial bank predicted, “It may not be as much as in November last year, when the number of opening of negative bankbooks exceeded 6,000 per day after the announcement of the credit loan regulation, but if the detailed regulations are confirmed in March, the demand for negative bankbooks will increase for the time being. .
Kwak Joo-hyun reporter [email protected]
News directly edited by the Hankook Ilbo can also be viewed on Naver.
