多个省份：24小时内上报“二级债未赎回”事项

Core Viewpoint - The People's Bank of China has introduced a regulation requiring banks to report any intention not to redeem subordinated debt within 24 hours, reflecting increased scrutiny on banks' capital adequacy and risk management [1][3]. Regulatory Changes - The Tianjin branch of the People's Bank of China has proposed a reporting system for significant events, including the decision not to redeem subordinated debt, which must be reported within 24 hours [1]. - Other branches, including those in Chongqing and Shandong, have already included similar reporting requirements [1]. Impact on Banks - Most banks typically choose to redeem subordinated debt after five years due to lower market interest rates, which makes new issuances more attractive [2]. - Some banks are opting not to redeem subordinated debt due to stricter regulatory scrutiny and concerns about meeting capital adequacy requirements [2][4]. - As of 2025, two banks, Nanchang Rural Commercial Bank and Fuxin Bank, have not redeemed their subordinated debt, with Nanchang's capital adequacy ratio at 9.20%, close to the regulatory minimum [2]. Market Reactions - The new regulation is expected to enhance the monitoring of potential risks by regulatory bodies, allowing for timely assessments of banks' capital levels and operational risks [3]. - The market conditions for issuing subordinated debt are favorable, with banks able to replace high-cost old debt with lower-rate new debt [3]. - There is a noticeable divergence in behavior between large banks, which are actively refinancing, and smaller banks, which are hesitant to redeem due to capital adequacy pressures [3]. Capital Management Strategies - Banks nearing the regulatory capital adequacy threshold must adopt prudent capital management strategies, focusing on internal capital accumulation and exploring alternative capital-raising methods [4]. - Strategies include improving profitability, optimizing business structures, and reducing reliance on external financing [4]. - Banks should also prepare contingency plans and maintain close communication with regulators to navigate potential capital shortfalls [5].