Hua Xia Shi Bao·2025-11-21 05:59Core Viewpoint - Recent changes in the disclosure of personal loan non-performing asset (NPA) transfer information by banks indicate a shift towards less transparency, with key data no longer available to the public, reflecting a strong demand for rapid capital recovery by banks [2][4][5]. Disclosure Changes - Since November, banks have stopped disclosing auxiliary valuation information such as starting prices, average outstanding principal and interest balances, and write-off statuses in their NPA transfer announcements [3][4]. - The announcements now include a watermark stating "unauthorized reproduction prohibited," indicating a tightening of information access [3]. Impact on Asset Management Companies (AMCs) - Although some information is hidden from public view, AMCs can still access most data through corporate accounts, except for write-off statuses, which are crucial for assessing asset value [4][5]. - The write-off status is significant as it indicates the bank's assessment of the likelihood of recovering the asset, affecting the discount rates of asset packages [4]. Market Dynamics - The pilot program for bulk transfers of personal non-performing loans began in 2021, initially involving a limited number of banks, but has since expanded to include more institutions, leading to a more standardized process [5]. - The decision to limit public information is seen as a necessary step as the market stabilizes, reducing the risk of misinterpretation by non-participants [5]. Transaction Process Changes - The transaction process has accelerated, with banks significantly shortening payment deadlines in recent announcements compared to earlier in the year [6]. - For example, a state-owned bank reduced the payment and agreement signing periods from five working days to three and two days, respectively [6]. Market Growth - The scale of personal non-performing loan transfers is expanding, with over 100 projects announced, indicating a faster pace of asset disposal [7]. - As of the end of Q1 this year, the scale of personal non-performing loan bulk transfers reached 37.04 billion, a year-on-year increase of 761.4% [7]. - The banking sector has disposed of 1.5 trillion in non-performing assets in the first half of the year, contributing to a decrease in both the balance and rate of non-performing loans [7].