设定比例与期限红线，《商业银行并购贷款管理办法（征求意见稿）》发布

Core Viewpoint - The Financial Regulatory Bureau has revised the "Guidelines for Risk Management of Mergers and Acquisitions Loans" to enhance the management of commercial bank merger loans, aiming to support the construction of a modern industrial system and new productive forces. Group 1: Mergers and Acquisitions Loan Definition and Types - Mergers and acquisitions loans are defined as loans provided by commercial banks to domestic acquirers or their subsidiaries for paying the transaction price of mergers and acquisitions, including transaction costs [1] - There are two types of mergers and acquisitions loans: control-type loans, which are used to gain control of target enterprises or assets, and equity-type loans, which are used to acquire a stake in target enterprises without achieving control [2] Group 2: Loan Management and Risk Control - Commercial banks are required to establish a sound management mechanism and information system for mergers and acquisitions loans, and to develop policies and procedures to effectively identify, monitor, assess, mitigate, and control risks [2] - The proportion of control-type loans in the total transaction price must not exceed 70%, while the proportion of equity funds must not be less than 30%. For equity-type loans, the proportion must not exceed 60%, and equity funds must account for at least 40% of the transaction price [2] Group 3: Loan Terms and Monitoring - The term for control-type loans is generally not to exceed ten years, while the term for equity-type loans is not to exceed seven years [3] - Commercial banks must strengthen post-loan management, closely monitor the implementation of mergers, and take timely actions such as early loan recovery or adjusting loan conditions if any irregularities are detected [3] Group 4: Capital Limits - The total balance of all mergers and acquisitions loans must not exceed 50% of the bank's Tier 1 capital, and the balance of equity-type loans must not exceed 30% of the total balance of mergers and acquisitions loans [3]