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The negative bankbook (Matong) is excluded from the application of the mandatory installment repayment of large credit loans promoted by the financial authorities.
The financial authorities also decided not to retroactively apply amortization to existing credit loans, but to give a sufficient grace period after confirming and announcing the regulations in March.
According to the financial authorities on the 21st, the Financial Services Commission decided to introduce a method of distributing principal to large credit loans exceeding a certain amount.
Currently, credit loans only pay interest every month until they expire, but it means that not only the interest but also the principal is paid off.
The intention is to curb the recent rapid increase in credit loans.
Maton, a limited-term loan method, is not applicable. The position of the financial authorities is that the concept of amortized repayment cannot be applied because it is a method used when necessary with a set limit.
The specific base amount to which amortization is applied has not been established yet.
Some observers say that more than 100 million won will be applied to credit loans.
If the total amount of credit loans received by high-income earners with an annual income of more than 80 million won exceeds 100 million won, 40% of the total debt repayment ratio (DSR) regulation (non-banking sector 60%) is applied. It’s from logic.
Financial authorities are known to put more weight on setting standards appropriate to individual circumstances, such as annual salary, rather than presenting a uniform amount.
The method of applying amortization to the amount exceeding the annual salary is discussed. If a customer with an annual salary of 100 million won receives a credit loan of 300 million won, it is repaid only for 200 million won minus the annual salary.
However, the fact that this method is disadvantageous to those with a relatively small annual salary is a point of concern for the financial authorities.
As it is the first time to introduce the amortization of credit loans, the step-by-step application is also a card that financial authorities consider.
This means that amortization is applied only to a portion of the total amount of the credit loan. If you borrow 300 million won, only 30% or 90 million won is paid off, and the remaining 210 million won is paid only at the maturity with interest as before.
The financial authorities will confirm detailed matters and announce plans to advance household debt in March.
Credit loans received prior to the application of the regulation are not subject to amortization.
An official from the financial authorities said, “The specific method and timing of implementation will be announced in March. The announcement will be announced in March, not immediately applied on April 1st, but the timing of implementation will be determined considering various variables such as the Corona 19 situation.” Said.
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