New Year’s loan overheating signs… Financial authorities re-order’management’ in banknotes
Hold an emergency inspection meeting and ask “Please follow the household loan management plan”
(Seoul = Yonhap News) Finance Team = As banknote loans increased sharply from the beginning of the year, the financial authorities held an emergency inspection meeting with banknotes on the 11th and re-ordered loan management.
The Financial Supervisory Service held a video conference with the executives in charge of loans at major banks this afternoon to examine the trends and causes of the increase in household loans such as credit loans, and re-examine each bank’s loan targets. 
At this meeting, the FSS was reported to have ordered continued household loan management.
The Financial Supervisory Service urged the bank to do its best to manage the total amount of household loans this year along with complying with the monthly household loan management plan submitted to the financial authorities.
In addition, it emphasized the thorough management of loans classified as’high DSR’ in the Total Debt Principal Situation Ratio (DSR) regulation, as well as maintaining the proportion of household and corporate loans of banks that introduced Basel III, the international soundness standard, early. .
Financial authorities believe that excessive increase in household loans can lead to overheating of stocks and real estate, and should take preemptive measures. Since the beginning of the year is scheduled to open up to IPOs of large fisheries companies, the company is planning to manage it so that excessive funding does not occur.
An official from the financial authorities said, “Just because the year has changed, there is no change in the basis for managing loans,” he stressed the will to manage not only credit loans but also household loans overall.
Usually, the loan inspection meeting is held after the financial authorities have reviewed the total volume management plan submitted by the banking sector, but this time it was held ahead of the original plan. It is interpreted that the rapid increase in credit loans at the beginning of the year was the background.
As of the 7th, the credit balance of the five major commercial banks of KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup was 134 trillion and 111.5 billion won, an increase of 453.4 billion won from the end of last year, four business days ago.
In general, January is unusual in that the loan balance decreases due to year-end bonuses. It is analyzed that the credit lending latch that was blocked at the end of last year was somewhat loosened in the new year, and the demand for’debt investment’ (investing through loans) was driven by the stock market boom.
However, the financial authorities have diagnosed that the increase in lending is not a level of concern.
Another official from the financial authorities said, “We are monitoring the increase in credit loans on a daily basis.”
The financial authorities plan to closely monitor the trend of household loans with banknotes to prevent excessive loans from causing insolvency.
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