At present, there are more than 100 data of the provident fund management center in the country waiting in line to access the central bank credit system.
In recent years, various provinces and cities have gradually incorporated the housing loan information of provident fund into the credit system.
On June 22, Shaanxi housing fund management center issued a circular that, from July 8, the information of personal housing provident fund loan of Shaanxi housing fund management center will be included in the credit system of the people’s Bank of China. In addition, many provinces and cities have started to formally submit data to the credit system. Xi’an housing fund management center announced that since September 14, the information of personal housing loan of provident fund has been incorporated into the central bank credit system. The information of personal housing provident fund loan in Dalian has been included in the central bank credit system since March this year.
Second generation credit collection of provident fund loan
In january2020, the credit center of the people’s Bank of China launched the switching of the second generation credit reporting system to the online work, and provided the second generation format credit report inquiry service to the public and financial institutions. Subsequently, with the bank loan and other two generation credit transfer, the provident fund loans managed by the housing provident fund management centers in various regions are also connected to individual credit.
On June 22, Shaanxi housing fund management center issued a circular that, from July 8, the information of personal housing provident fund loan of Shaanxi housing fund management center will be included in the credit system of the people’s Bank of China.
The center announced that for the borrowers and spouses who signed the mortgage of housing provident fund, the sequence of deduction for the provident fund loan is: the borrower’s provident fund account, the borrower’s spouse accumulation fund account and the loan repayment account. The borrower and spouse’s provident fund account shall keep three times of the maximum monthly deposit amount, which cannot be used for loan deduction; The borrower must ensure that its loan repayment account is in normal condition. If there is no transaction record in the loan repayment account within 6 months from the date of opening the account, the bank will suspend its non counter business, which will result in the loan being unable to deduct.
On June 25, the management center of housing provident fund of Yan’an City of Shaanxi Province issued a news that the city’s credit data was successfully connected to the second generation credit system of the people’s Bank of China on June 17 and completed the first data reporting, becoming the first non-financial institution to connect credit data into the second generation credit system of the people’s Bank of China.
For the reasons for the second generation credit, it indicates that with the rapid growth and development of housing provident fund industry, the urban provident fund in each district has established similar business operation mode with commercial banks. But due to the institutional mechanism, in the post loan management, there is no credit penalty means for credit default provided by financial institutions. In recent years, with the expansion of the scale of housing provident fund credit, in order to effectively curb the rise of credit overdue rate and ensure the safety of funds, the national reserve fund industry has put the second generation credit system access to a strategic height, and attaches great importance to it, but it is difficult and difficult. It is understood that up to now, there are more than 100 accumulation fund management centers in China, and data are still waiting for access.
“The central bank credit data access standards are relatively strict, must have special lines, etc., the cost is not very high.” A local financial institution said.
At the end of 2019, there are 341 housing fund management centers in China, with the amount of housing reserve deposit of 2370967 million yuan, the withdrawal amount of 162.8178 billion yuan, and the issuance of personal housing loans of 1213.906 billion yuan.
In addition, many provinces and cities have begun to formally submit data to the credit information system, so as to display the public’s provident fund loan information in personal credit reports. In September, 2020, Xi’an housing fund management center issued the notice on the inclusion of personal housing loan information of housing provident fund into the credit system of the people’s Bank of China. Since September 14th, 2021, the information of personal housing loan of Xi’an housing provident fund was included in the credit system of the people’s Bank of China. Since March 1, 2021, the loan information of personal housing provident fund in Dalian has been incorporated into the credit system of the people’s Bank of China.
Fill up the short board of credit reporting, and “drill the hole” has no escape
After the accumulation fund loan information is collected, the staff purchase the house again and use commercial loans. The bank can judge the number of loans according to the credit report. The dishonesty such as overdue repayment will also be recorded in the credit report truthfully, and the personal credit report is called “economic ID card”, which is one of the basis for financial institutions to judge the individual credit situation. Generally speaking, when reviewing loan applications, financial institutions will be cautious when issuing loans to applicants with multiple overdue records in credit reporting.
Therefore, the credit collection of provident fund loan has obvious effect on improving the awareness of timely repayment and preventing the overdue risk. Taking Changzhou, Jiangsu Province as an example, the data shows that, after Changzhou provident fund loan information was received on September 1, 2018, in October of that year, there were only 9 overdue housing provident fund loans in the city, a 53% decrease on a month-on-month basis, 40% lower than the average overdue accounts in January to August, and the overdue rate of the current month reached the lowest point in history.
In january2020, the central bank upgraded the credit system, and the second generation credit report was officially opened for inquiry. The new credit report enriched the basic information and credit information content, improved the information display form, improved the information update efficiency, and the dishonesty behavior was more elusive.