深圳出台试点政策-境内银行可直接向境外转让不良资产

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转自 方达深圳公众号

深圳出台试点政策

—境内银行可直接向境外转让不良资产

境内银行将境内不良贷款直接转让给境外投资者，因有“内债不能转成外债”的限制，一直无法进行。而深圳刚刚出台的银行不良资产跨境转让试点政策打破了该限制，更值得关注的是，内地所有地方的银行都可以适用该政策，而不仅仅限于深圳辖区内的银行。

我们在此对该政策简要介绍如下：

1.法律依据

《国家外汇管理局关于深圳市分局开展辖区内银行不良资产跨境转让试点业务有关事项的批复》（汇复[2017]24号），授权深圳外管以“逐笔审核、交易限定”为原则，推进银行不良资产跨境转让试点。深圳成为全国首个获得授权，自行审核管理，辖内机构跨境资产转让业务申请的试点地区。审核授权为期一年，至2018年5月31日，试点期满，视实施情况调整和修订试点政策。

2.适用范围

该政策限于内地银行向境外转让不良资产，交易币种不限，流入币种可自由选择，受让主体要求为境外机构投资者。

此外，拟转让的资产法律关系要尽量简单清晰，最好不涉及债权纠纷，底层的资产也不要过于复杂，还应避开房地产业及政府融资平台等敏感行业和主体。

 3.转让流程

不良资产转让业务申请人应就每笔不良资产转让向深圳外管局申请核准，并在得到核准后办理跨境融资签约登记，开立和关闭外债账户、资金跨境收付和汇兑以及跨境融资登记注销等手续。

深圳辖区内银行可直接作为业务申请人，也可通过前海金融资产交易所办理上述手续，内地其它地方银行应通过前海金融资产交易所办理上述手续。通过前海金融资产交易所作为业务申请人办理上述手续的，相关不良资产应在前海金融资产交易所挂牌转让。

 4.不占用外债额度

虽然不良资产跨境转让业务申请人应作为跨境融资备案主体，代不良资产项下实际债务人，到深圳外管局办理跨境融资签约备案，但因跨境转让形成的跨境融资，不占用业务申请人自身跨境融资额度，也不占用实际债务人的外债额度。

5.现状

2016年12月，深圳外管局报请总局核准，通过前海金融资产交易所成功办理了国内首单，以平台为依托的跨境资产转让业务。

而据我们了解，目前有数笔不良资产正在通过前海金融资产交易所进行跨境转让。

以上简介，仅供参考，不构成我们的法律意见。如想了解进一步信息，可联系卓海律师。

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Pilot Policy Promulgated in Shenzhen

- Domestic Banks May Assign Non-Performing Loans to Foreign Investors Directly

In accordance with the foreign exchange control principle in mainland China - “domestic debt shall not be converted into foreign debt”, domestic banks were not permitted to make outbound assignment of their domestic non-performing loans (“NPL”) to foreign investors.  As a welcome change, the restriction has been broken through by a pilot policy for cross-border assignment of banks’ NPLs recently introduced in Shenzhen, and it is noteworthy that the pilot policy is not only applicable to banks located in Shenzhen but also all other banks around the mainland China.

We hereby briefly introduce this pilot policy as follows.

1. Legal Basis

The Official Reply from State Administration of Foreign Exchange Concerning Cross-border Assignment of Banks’ Non-performing Assets in Shenzhen by the State Administration of Foreign Exchange Shenzhen Branch (Hui Fu [2017] No. 24) authorizes State Administration of Foreign Exchange (“SAFE”) Shenzhen branch to promote the pilot policy regarding cross-border assignment of banks’ non-performing assets on the principles that  “examination and approval shall be made on a case by case basis” and “the assigned shall be NPLs”.  Pursuant to the aforesaid official reply, Shenzhen became the first pilot area which is authorized to examine, approve and manage the application for cross-border assets assignment at its own discretion.  The authorization is valid for one year, which will expire on 31 May 2018.  When the pilot policy expires, it will be revised and adjusted based on its implementation situation.

2. Scope of Application

The pilot policy only applies to outbound assignment of NPLs from domestic banks to foreign entities.  There is no mandatory requirement on the currency of the assignment.  The assignees shall be foreign institutional investors.

In addition, the legal relationships of the NPLs to be assigned should be as simple and clear as possible, and better not involving disputes.  It is advisable that the underlying NPLs not to be too complicated and not to involve real estate, government financing platforms and other sensitive industries and entities.

3. Assignment Procedures

The applicant of NPLs assignment shall, in respect of each NPL assignment transaction, apply for examination and approval to SAFE Shenzhen branch, and after obtaining such approval, register the cross-border financing with the same regulator.  In addition, the applicant shall also go through the formalities in relation to opening and closing of the foreign debt accounts; cross-border collection, payment, remittance and conversion of funds; cross-border financing deregistration and etc.

Banks located in Shenzhen may go through the above formalities as the applicant itself, or entrust Shenzhen Qianhai Financial Assets Exchange as the applicant to do the same; while banks located in other places in mainland China shall go through these formalities through Shenzhen Qianhai Financial Assets Exchange only.  If Shenzhen Qianhai Financial Assets Exchange acts as the applicant, the underlying NPL shall be quoted on and assigned through it.

4. Will Not Take Up Foreign Debt Quota

Although the applicants mentioned in section 3 above shall be responsible for the registration of the cross-border financing with SAFE Shenzhen branch on behalf of the borrowers of the underlying NPL, the cross-border financing arising from such outbound NPL assignment will neither take up the applicants’ nor the underlying borrowers’ foreign debt quota.

5. Current Development

In December 2016, the first outbound NPL assignment transaction done through Shenzhen Qianhan Financial Assets Exchange in the mainland China was completed, which transaction was approved by SAFE Shenzhen branch after obtaining SAFE’s approval.

To our knowledge, currently there are several NPLs are in the process of outbound assignments through Shenzhen Qianhai Financial Assets Exchange.

The brief above is for your reference and is not intended to provide legal advice. Should you have any inquiry, please contact Mr. Romy Zhuo.

卓海

银行融资部 合伙人

[e-mail]

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