Home Business [단독]The reason for the 60-day repayment only for private short sale… “Because there is no basis for extension”

[단독]The reason for the 60-day repayment only for private short sale… “Because there is no basis for extension”

by news dir
[이데일리 양희동 기자] It was confirmed that the reason why the financial authorities kept the loan repayment period of the’new individual loan system’, which was implemented with the resumption of short selling on the 3rd of this month, at the same 60 days as before, because there was no evidence to review additional extensions. . It was difficult to predict in advance the demand and volume of lenders as the plan to revitalize individual short selling was implemented for the first time, and this decision was made in order to prevent liquidity risks. In the industry, it is expected that sufficient data must be secured after the individual loan system has been implemented for more than one year in order to extend the loan repayment deadline to 180 or 360 days, similar to the credit transaction loan.

The difference between lending and lending transactions. (Source = Financial Committee·Financial Investment Industry)

According to the financial investment industry on the 16th, the Financial Services Commission and Korea Securities Finance and others discussed whether to extend the loan repayment period while preparing to implement the individual loan system. It was difficult to predict the amount, etc., and the period was applied at a maximum of 60 days as before.

Earlier, Chairman Eun Seong-soo attended the report on the National Assembly’s Political Affairs Committee on February 17 and said, “We will consider increasing the deadline for repaying individual credit loans.” After the remarks of Chairman Eun, the Financial Services Commission and Securities Finance together discussed an additional extension of the loan repayment period, but it is reported that since this is the first system to be introduced, there is not enough data to reduce the risk of implementation. An official from the securities finance said, “It was difficult to predict how many individuals would use the loan service after the system was implemented.”

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However, Donghak ants are consistently complaining that they are unfair compared to foreigners and institutions, which are virtually unlimited because the repayment period is only 60 days. Accordingly, nearly 90,000 petitions from the Blue House nationals asking foreigners and institutions to set the repayment period have also agreed.

Experts point out that it is necessary to consider extending the repayment period, increasing by more than 100 times from about 20.5 billion won before the ban on short selling of individual loans to 2.4 trillion won at present.

Hwang Se-woon, a research fellow at the Capital Markets Research Institute, said, “Foreigners and institutions have a recall clause, and the contract maturity is meaningless because if a reimbursement request comes, the contract maturity is meaningless. There is an inevitable aspect of setting the expiration (60 days),” he explained. He added, “If you look at a credit transaction loan, the default is 90 days, and you can extend it to 180 days and 360 days in addition,” he said. “It is reasonable to extend the period of repayment for individual loans from 60 days to 180 days or 360 days.”

However, in order to decide whether to extend the loan repayment period, the financial authorities are in a position that statistics for liquidity management must be accumulated in advance. In the industry, discussions are expected to be possible only after the system has been operated for at least one year.

An official from the Financial Services Commission said, “Even if the total size of lenders has increased to 2.4 trillion won, the repayment period cannot be extended uniformly at the present time because the liquidity management of 350 stocks that can be short-sold must be individually managed. Through this, liquidity statistics for 350 stocks are accumulated, and based on this, it is necessary to be able to determine how much room there is in order to consider extending the repayment period.”

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