Financial Supervisory Service “Limited effect on soundness despite rise in delinquency rate of securities and female companies”
Rep. Chang-Hyun Yoon “We need to reexamine the stabilization measures for concerns regarding insolvency”
It was found that real estate project financing (PF) loans in the financial sector, which cause unrest in the financial market, increased by 1.8 trillion won in three months, and the delinquency rate also increased.
According to data submitted by the Financial Supervisory Service on the 7th to the Office of Congressman Chang-Hyun Yoon, the balance of real estate PF loans in the financial sector as of the end of last year was 129.9 trillion won, an increase of 1.8 trillion won compared to 128.1 trillion won at the end of September last year.
In addition, the real estate PF delinquency rate in the financial sector increased by 0.33 percentage point (p) from 0.86% at the end of September last year to 1.19% at the end of December last year.
Looking at the increase and decrease in the balance of real estate PF loans by business sector during this period, banks increased by 2.1 trillion won and insurance by 200 billion won, respectively. On the other hand, savings banks and specialized credit finance companies decreased by 200 billion won and 300 billion won, respectively, during this period.
Looking at the delinquency rate alone, credit-specialized financial companies increased by 1.13 percentage points from September last year to 2.20% in December last year, and securities companies and insurance companies also increased by 2.22 percentage points and 0.2 percentage points, respectively.
Rep. Chang-Hyeon Yoon said, “It appears that excessive real estate PF loans from some securities companies focused only on commission income are spreading as a risk throughout the financial investment industry.” We need to come up with measures once morest moral hazard as soon as possible.”
In response, the Financial Supervisory Service judged that the delinquency rate of real estate PF loans of securities companies and specialized credit finance companies was high, but the impact on soundness was limited considering the size of PF delinquent loans and the ratio to equity capital.
An official from the financial authorities said, “The scale of delinquency of securities companies and specialized credit finance companies is low compared to their equity capital,” and “due to real estate PF lending regulations introduced during past crises, delinquencies are not concentrated in specific securities companies or female warriors.” /Union
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