Financial leasing belongs to the "shadow bank"?

Financial leasing does not belong to the "shadow bank", but now some financial leasing companies to lease as a credit business to do, and the subject matter of the lease focus on macro-control focus on real estate, local government financing and other categories. If such assets are financed by means of direct financing. Then the typical "shadow banking" characteristics are revealed. Therefore, the media to the financial leasing as "shadow banking" can not say that the industry has been wronged.

Shadow banking is defined as "a system of credit intermediation outside of the banking regulatory system that may lead to systemic risk and regulatory arbitrage."

Internationally, Europe and the United States, "shadow banking" is mainly around securitization to promote financial innovation tools, these tools in China's financial markets, most do not exist. And financial leasing, trust, bank factoring, bank wealth management, microfinance and other businesses are completely under the supervision of the CBRC, and the Financial Stability Board on the definition of shadow banking does not match, can not just buckle "shadow banking" hat as the object of rectification.

"Shadow banking" is not characterized by doing the same thing as a bank is "shadow banking". Mainly in the source of funds and lending these two aspects and the bank to absorb public deposits and credit is very similar, and is not subject to the financial supervision of the CBRC disguised deposit and disguised loans. Credit rating is lower than the bank credit, but also not subject to national macro-control constraints. Therefore, regulated financial institutions are willing to cooperate with "shadow banks" to avoid regulation (so-called bank credit cooperation).

Financial leasing is a new economic transaction method to achieve the lessee's purpose of financing by means of financing. Usually, in order to project security, the leasing company is not to give the lessee funds. Only in the way of "sale and leaseback", the lessee can get the funds. When this kind of leasing as credit to do business into the mainstream, easy to make people think of is to do disguised as a loan "shadow bank".

Financial leasing companies have borrowing on behalf of others, lending on behalf of others, purchasing on behalf of others, selling on behalf of others, asset management on behalf of others, although the operating characteristics. Appears to be an intermediary company. But the status of owning property rights and liabilities is very different from the general intermediary. It is completely different from the kind of "credit intermediary" defined by "shadow banking".

Financial leasing can be the assets of the asset shell company as the subject matter, directly in the market to finance the purchase price of goods to do entrusted lease. This practice seems to absorb the deposit, the actual are in the scope of the law allows. As long as the funds are not entrusted, and "shadow banking" should have nothing to do.

"Shadow banking" is closely related to financial regulation. Therefore, to analyze whether financial leasing is a "shadow bank", regulation is a very important factor. If the regulatory division is a "shadow bank", then the financial institutions of the financial leasing, especially the bank financial leasing company, itself and the bank as a whole, by the CBRC according to the banking industry supervision. Do a lot of credit leasing, can not be said to be a "shadow bank".