Reported 8 months ago
In response to the Ministry of Finance's directive, today, under the instruction of the Ministry of Finance, the Land Bank invited the eight major banks to discuss issues regarding the artificial assignment of borrowers, prevention of subletting, and the formulation of the commitment letter for New Qing'an. Officials from the Ministry of Finance and the Ministry of the Interior were present at the meeting, where it was revealed that not only new borrowers but also existing borrowers must sign commitment letters. The Ministry of Finance has requested banks to comprehensively investigate past cases, meaning they will retrospectively investigate the management of existing borrowers. The commitment letter for New Qing'an will include public content focusing on five main points, such as the restriction of collateral for own residential use only and allowing scrutiny of loan funds and collateral usage by relevant authorities. Violation of the commitment letter terms will result in consequences like the termination of interest subsidies.
Source: YAHOO