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Notice on Due Diligence and Disclaimer of Inclusive Credit

Golden Rules [2024] No. 11

Financial regulatory bureaus，Policy banks、Large Bank、Joint-stock bank、Foreign banks、Financial asset management company:

In order to implement the spirit of the Central Financial Work Conference and the requirements of the "Implementation Opinions of the State Council on Promoting the High-Quality Development of Inclusive Finance" (Guofa [2023] No. 15)，Further improve the inclusive credit management mechanism of banking financial institutions，Promote the sustainable and healthy development of inclusive credit，The notice regarding the due diligence and exemption of Inclusive Credit is as follows:

1. Overall requirements

The due diligence and exemption work of Inclusive Credit refers to banking financial institutions after risks arise in Inclusive Credit business，Go through relevant work processes，Determined that relevant personnel perform their duties with due diligence，Exempt from all or part of its liability，Including points deduction for internal assessment、Administrative sanctions、Financial penalties and other responsibilities。

(1) Applicable objects

Inclusive credit due diligence exemption applies to the inclusive credit business marketing of banking financial institutions、Accept、Review and Approval、Review and Approval、Loan operation、Relevant personnel who assume management responsibilities and directly handle business in post-loan management and other aspects，Including heads of institutions in charge of inclusive credit business、Heads of management departments and branches、Inclusive Credit Business Manager、Inclusive credit business managers, etc.。

This notice applies to small and micro enterprise loans and small and micro enterprise owners with single-household credit of 10 million yuan or less、Operational loans for individual industrial and commercial households，And operating loans for farmers with a credit limit of five million yuan or less for a single household。Small micro enterprises、Small and micro business owners、Other on- and off-balance sheet operating credit businesses for individual industrial and commercial households and farmers may be implemented as a reference。

(2) Working principles

Banking financial institutions should be encouraged to assume their responsibilities、Duty and Disclaimer、Principles of accountability for dereliction of duty，According to relevant laws and regulations and inclusive credit service policies，Carry out due diligence and exemption work。When implementing the inclusive credit due diligence exemption system，Avoid pursuing only procedural and formal compliance，Focus on the essence of personnel performance，Strengthening risk management and control capabilities。

(3) Responsibility identification standards

Banking financial institutions carry out due diligence and exemption work，Laws and regulations that should be used when handling inclusive credit business、Regulatory regulations，And the internal management system of banking financial Dafabet reviewsinstitutions as the main standards for due diligence identification。

(4) Reasonably determine the bad tolerance

Banking financial institutions on the basis of implementing inclusive credit bad tolerance regulatory policies，According to your own risk preference、Risk management level and local economic and financial environment，Set differentiated inclusive credit bad tolerance targets for branches in different regions。

2. Exemption situations and accountability requirements

(5) Circumstances that should be exempted

When determining the liability of banking financial institutions，For those who have no definite evidence to prove that relevant persons violated relevant laws and regulations、Regulatory regulations and internal management systems，Dereliction of duty or failure to perform duties，In principle, all liability should be exempted。Including the following situations:

　　1.Natural disasters and other force majeure factors directly lead to poor formation，And relevant personnel promptly disclose the risks and take measures after the risks occur。

　　2.The principal of the credit asset has been paid off、Non-performing due to only a small amount of interest arrears，If the relevant personnel do not commit fraud、Violations of regulations and disciplines，And have actively taken recourse measures in accordance with the relevant management systems of banking financial institutions。

　　3.Existing credit business transferred due to work adjustment, etc.，Risk has been exposed before handover，The subsequent takeover personnel have no violations of regulations or dereliction of duty in the process of risk resolution and business management;Risks not exposed before handover，Follow-up takeover personnel promptly discover risks and take effective risk control measures。

　　4.Relevant personnel participating in collective decision-making clearly put forward different opinions with legitimate basis，Facts have proven that this opinion is correct，And this decision is directly related to the credit business risk。

　　5.There is a written record in the file or process，Or there is other admissible evidence that the relevant personnel did not comply with the relevant laws and regulations at the time、There have been clear objections to the regulatory requirements and management system of banking financial institutions，Or there are clear warning opinions on credit asset risks，However, the business was still processed after the decision was made and resulted in defects。

　　6.For loans with standardized credit approval，Relevant personnel completed relevant operations in accordance with the standardized operating requirements stipulated within banking financial institutions。

　　7.Relevant laws and regulations、Other exemption situations specified by regulatory provisions。

(6) Circumstances in which liability can be reduced and exempted

When determining the liability of banking financial institutions，For non-violation of relevant laws, regulations and regulatory provisions，Basically fulfilled job responsibilities，Only minor negligence，The responsibilities of relevant personnel may be reduced depending on the circumstances、Disclaimer。Including the following situations:

　　1.Self-examination and self-correction to identify problems in a timely manner，Actively take remedial measures，Effectively avoid or reduce losses。

　　2.The non-performing loan ratio does not exceed the non-performing tolerance dafabet online sports betting apptarget of the business unit。

　　3.Only minor negligence without subjective malice，No major losses caused。

　　4.Relevant laws and regulations、Other liability reductions specified in regulatory provisions、Disclaimer。

(7) Circumstances in which exemption is not allowed

Relevant personnel have the following dereliction of duty or violation of regulations，No exemption:

　　1.Fraud，With the borrower、Intermediaries and other internal and external collusion，Counterfeit packaging materials、Concealing the true situation to defraud credit。

　　2.Knowing the existence of the borrower without actual operation、Major issues such as violation of loan usage，Still applying for loan。

　　3.Major mistakes in credit business，Failing to discover major risk factors that affect the borrower’s repayment ability in a timely manner。

　　4.Asking or accepting financial benefits from the borrower during the credit granting process。

　　5.There are illegal and illegal behaviors that subjectively and maliciously harm the interests of banking financial institutions or borrowers。

　　6.When accepting due diligence review，Deliberately concealing facts or providing false information。

　　7.Relevant laws and regulations、Other non-exempt situations where regulatory provisions are clear。

(8) Disclaimer and accountability requirements under specific circumstances

The risk profile of inclusive credit business does not exceed the bad tolerance dafabet online sports betting apptarget of the business unit，As long as it does not violate relevant laws and regulations、Under the premise of regulatory requirements，In principle, the leaders and managers of inclusive credit business management departments and handling agencies will not be held accountable for leadership or management responsibilities。

Instructed by superior management or the person in charge of the organization、Instigating or ordering the handling staff to deliberately conceal facts or handle inclusive credit business in violation of regulations，should bear all or major responsibility，Seriously held accountable。The handling personnel clearly raised objections，Can be exempted or reduced from liability at its discretion。

3. Standardize the due diligence and exemption work mechanism and process

(9) Establish and improve the working mechanism

Banking financial institutions should establish inclusive credit due diligence and exemption work leading groups at all levels of institutions that carry out risk liability identification work，Or designate existing relevant working committees to assume leadership group responsibilities，Coordinate and responsible for due diligence and exemption，Listen to due diligence and exemption work reports regularly。The leadership team should manage the authority according to the business，Designate specific departments to take the lead in establishing a due diligence review working group，Responsible for due diligence、Commentary and other work。The leadership group or the specific department authorized by it is responsible for the responsibility identification work。Carry out due diligence and exemption work，Avoidance requirements should be strictly implemented，Ensure the results are objective and fair。

(10) Standardized work process

The due diligence and exemption work process of Inclusive Credit mainly includes investigation、Comments、Responsibility identification、Appeal and other links。

After the risk of inclusive credit business，Accountability dafabet online betting websitefor relevant personnel，Should go through the due diligence and exemption work process，The reviewee shall not be held accountable in advance before the entire process is completed，Not allowed for compliance checks、Credit Check、Special inspection and other inspection conclusions replace due diligence and exemption work process。After performing due diligence and disclaimer，If there is evidence that the relevant personnel intentionally concealed their behavior or are not exempt from liability，Additional liability determination should be made。

(11) Strict investigation procedures

Due diligence investigation should be read、Review relevant business information，And have the necessary conversations、Verify。After investigation，Fact verification materials should be produced，Send the reviewee’s signature for confirmation。The person being reviewed does not sign for confirmation and fails to submit a written objection within the prescribed time limit，The due diligence review working group should indicate the reason and delivery time，And make a written explanation。The respondent raised a written objection within the prescribed time limit，The due diligence review working group should review its opinions and supporting materials;Not accepted，Should give written explanation。

(12) Improve the review process

The due diligence review working group should formulate a corresponding due diligence review report，Make an evaluation conclusion on whether the person being evaluated has performed his or her duties。The evaluation conclusion can be divided into due diligence、Basically perform your duties、Three categories including failure to perform duties，Banking financial institutions can based on their own actual conditions，Further subdividing the review conclusion categories。For smaller loan amounts、Credit business with clear division of responsibilities，Banking financial institutions can issue due diligence reports in batches。

(13) Standardize responsibility determination procedures

The determination of responsibility should be based on factual verification materials、Written explanatory materials and due diligence review conclusions are for reference。Determined as conscientious，Should be exempted from liability;Determined as basically conscientious，Liability reduction may occur depending on circumstances、Disclaimer;Determined as not performing their duties，The liability investigation process should be initiated。Responsibility determination results should be announced internally，And inform the reviewee and his department in writing。

(14) Clarify the complaint procedure

Banking financial institutions should establish clear channels for complaints，After the responsibility determination result is released，The person being reviewed is dissatisfied with the determination result，Written appeals can be submitted within the specified period。Banking financial institutions should conscientiously handle complaints，And verify within the specified period，The result of determination of liability shall not be aggravated by the reviewee’s complaint。

(15) Improving the efficiency of due diligence and exemption

Banking financial institutions should determine the time limit for due diligence and exemption based on actual conditions，Start due diligence and exemption work in a timely manner。After the due diligence and exemption work is started，In principle it should be completed within one year。For bad business directly caused by force majeure and other factors、Business with small loan amount，Work efficiency should be improved，Further compress time。

(16) Strengthen file management

Banking financial institutions should strengthen the management of inclusive credit business and due diligence and liability exemption documents，Objective、Comprehensive Record Investigation、Comments、Responsibility identification、Appeal process and results，And archive relevant materials。

4. Pay close attention to detailed implementation and supervision and supervision

(17) Improve internal systems

Banking financial institutions shall comply with the requirements of this notice，Combined with own reality，Improving the internal inclusive credit due diligence and exemption system，Coordinate and consider the performance of duties、Factors such as performance results and degree of loss，Clear the different positions in the inclusive credit business、Due diligence standards for different types of products，Refined exemption situations，Improve operability。Banking financial institutions should improve the internal risk responsibility identification system，Make a good connection with Inclusive Credit’s due diligence and exemption work。

(18) Strengthen policy implementation

Banking financial institutions should regularly conduct evaluations on the effectiveness of inclusive credit due diligence and exemption，Internally report the overall status of due diligence and exemption work and typical exemption cases every year，Cultivation of a culture of responsibility and accountability。Banking financial institutions should reflect the status of their due diligence and exemption work in the inclusive credit reports submitted regularly to regulatory authorities。Regulatory authorities at all levels should strengthen guidance and supervision on the due diligence and exemption of inclusive credit of banking financial institutions。

From the date of issuance of this notice，"Notice of the China Banking Regulatory Commission on Further Strengthening the Due Diligence and Exemption of Credit Granting to Small and Micro Enterprises by Commercial Banks" (Yinjianfa [2016] No. 56) is repealed at the same time。

State Financial Supervision and Administration Administration

August 2, 2024

Source: Website of the State Administration of Financial Supervision