銀保監會近(jin)日發(fa)布《金融資(zi)產投資(zi)公(gong)(gong)司管理辦法(試行)》(下(xia)稱《辦法》)。《辦法》立足于規范金融資(zi)產投資(zi)公(gong)(gong)司業務(wu)行為,推(tui)動提高債權轉股權效率,切實(shi)防范金融風險。
銀保(bao)監會有關部門負責人(ren)介紹,根據《國務院(yuan)關于積極穩(wen)妥降(jiang)低企(qi)業杠桿率(lv)的(de)意見》及其附(fu)件《關于市場化銀行債(zhai)(zhai)(zhai)權(quan)轉(zhuan)(zhuan)股權(quan)的(de)指導意見》,銀行應當通過(guo)實(shi)施(shi)(shi)機(ji)構開(kai)展市場化債(zhai)(zhai)(zhai)轉(zhuan)(zhuan)股。金融(rong)資產投(tou)資公(gong)司作為銀行發起設立的(de)債(zhai)(zhai)(zhai)轉(zhuan)(zhuan)股實(shi)施(shi)(shi)機(ji)構,是一類新型實(shi)施(shi)(shi)機(ji)構。為使此類機(ji)構有法可循,確(que)保(bao)其規(gui)范開(kai)展債(zhai)(zhai)(zhai)轉(zhuan)(zhuan)股業務,提(ti)高債(zhai)(zhai)(zhai)轉(zhuan)(zhuan)股效率(lv),同時有效防范金融(rong)風險,真實(shi)降(jiang)低企(qi)業杠桿率(lv),銀保(bao)監會特制定本《辦(ban)法》。
《辦法》強調債轉股(gu)必須遵循市場化(hua)、法治化(hua)原則,明(ming)確金融(rong)資(zi)產投資(zi)公司(si)設立、變(bian)更(geng)與終止要(yao)求(qiu),明(ming)確要(yao)求(qiu)突出開展債轉股(gu)及其配套業務,強調全面(mian)風險管(guan)理和(he)風險隔離,強化(hua)監(jian)管(guan)部門事(shi)中事(shi)后監(jian)管(guan)職(zhi)責。
在(zai)設(she)立金(jin)融資產投(tou)資公司方面,上述負責人(ren)稱,考慮到金(jin)融資產投(tou)資公司主(zhu)要(yao)(yao)是作為銀行業債轉股(gu)(gu)實施機(ji)構,《辦法》要(yao)(yao)求(qiu)(qiu)金(jin)融資產投(tou)資公司應由(you)境(jing)內商業銀行作為主(zhu)要(yao)(yao)股(gu)(gu)東發起設(she)立,但并不(bu)要(yao)(yao)求(qiu)(qiu)商業銀行控股(gu)(gu),允許其他符(fu)合條件的(de)投(tou)資者投(tou)資入股(gu)(gu)金(jin)融資產投(tou)資公司,充(chong)分調動社會資金(jin)參與債轉股(gu)(gu)的(de)積極性。本著擴大(da)對(dui)(dui)外(wai)(wai)開放的(de)精神,《辦法》對(dui)(dui)境(jing)外(wai)(wai)機(ji)構投(tou)資入股(gu)(gu)金(jin)融資產投(tou)資公司實行“國民待遇”,對(dui)(dui)外(wai)(wai)資持股(gu)(gu)比(bi)例沒有做出限制。
在(zai)(zai)引導(dao)金(jin)融(rong)資(zi)(zi)(zi)產(chan)(chan)(chan)投(tou)(tou)(tou)資(zi)(zi)(zi)公(gong)(gong)司(si)市場化籌集資(zi)(zi)(zi)金(jin)方面(mian),該負責人(ren)表(biao)示,一是允(yun)許(xu)金(jin)融(rong)資(zi)(zi)(zi)產(chan)(chan)(chan)投(tou)(tou)(tou)資(zi)(zi)(zi)公(gong)(gong)司(si)依法依規面(mian)向合格投(tou)(tou)(tou)資(zi)(zi)(zi)者(zhe)募(mu)(mu)(mu)集資(zi)(zi)(zi)金(jin),充分運用(yong)私募(mu)(mu)(mu)資(zi)(zi)(zi)產(chan)(chan)(chan)管(guan)(guan)理產(chan)(chan)(chan)品支持實施債轉(zhuan)(zhuan)股(gu)。二是允(yun)許(xu)金(jin)融(rong)資(zi)(zi)(zi)產(chan)(chan)(chan)投(tou)(tou)(tou)資(zi)(zi)(zi)公(gong)(gong)司(si)設(she)立附(fu)屬機(ji)構申請成為(wei)私募(mu)(mu)(mu)股(gu)權(quan)投(tou)(tou)(tou)資(zi)(zi)(zi)基金(jin)管(guan)(guan)理人(ren),通(tong)過設(she)立私募(mu)(mu)(mu)股(gu)權(quan)投(tou)(tou)(tou)資(zi)(zi)(zi)基金(jin)開(kai)展債轉(zhuan)(zhuan)股(gu)業(ye)(ye)務(wu)。三是明確金(jin)融(rong)資(zi)(zi)(zi)產(chan)(chan)(chan)投(tou)(tou)(tou)資(zi)(zi)(zi)公(gong)(gong)司(si)可以通(tong)過發行(xing)金(jin)融(rong)債券募(mu)(mu)(mu)集債轉(zhuan)(zhuan)股(gu)資(zi)(zi)(zi)金(jin)。四是允(yun)許(xu)金(jin)融(rong)資(zi)(zi)(zi)產(chan)(chan)(chan)投(tou)(tou)(tou)資(zi)(zi)(zi)公(gong)(gong)司(si)可以通(tong)過債券回(hui)購、同(tong)(tong)業(ye)(ye)拆(chai)借和同(tong)(tong)業(ye)(ye)借款等(deng)業(ye)(ye)務(wu)融(rong)入資(zi)(zi)(zi)金(jin)。五是在(zai)(zai)確保資(zi)(zi)(zi)產(chan)(chan)(chan)潔凈(jing)轉(zhuan)(zhuan)讓和真實出售的前(qian)提下(xia),允(yun)許(xu)銀行(xing)理財資(zi)(zi)(zi)金(jin)依法依規用(yong)于(yu)交叉實施債轉(zhuan)(zhuan)股(gu)。
銀保監(jian)會稱,《辦法》的出(chu)臺有利(li)于(yu)金融資產(chan)(chan)投資公司有序開(kai)展市場化債(zhai)轉(zhuan)股各項業(ye)務;有利(li)于(yu)降杠(gang)桿工作(zuo)穩步(bu)推進,提高質量(liang)和效率。下(xia)一步(bu)將繼續加強對金融資產(chan)(chan)投資公司各項業(ye)務的指導和監(jian)管(guan),及時(shi)跟進債(zhai)轉(zhuan)股業(ye)務開(kai)展情況,進一步(bu)推動(dong)企業(ye)降杠(gang)桿工作(zuo),同時(shi)督促引(yin)導債(zhai)轉(zhuan)股規范操作(zuo),切實防范風(feng)險。
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