商业银行并购贷款迎监管新规

Core Viewpoint - The new regulations on merger and acquisition (M&A) loans by commercial banks aim to optimize loan services, enhance risk management, and better meet the financing needs of enterprises, thereby promoting high-quality development in the M&A market [1][2]. Group 1: Regulatory Changes - The Financial Regulatory Bureau has revised the "Guidelines for Risk Management of M&A Loans" to form the "Management Measures for M&A Loans," which will be published by December 31, 2025 [1]. - The new measures consist of 34 articles that categorize M&A loans into controlling and equity participation types, with differentiated rules for each [2][3]. Group 2: Financing Conditions - The revised regulations broaden the applicable scope of M&A loans, allowing loans for equity participation M&A transactions, provided that the equity stake acquired is at least 20% and does not exceed 60% of the transaction price [4]. - The upper limit for controlling M&A loans has been increased from 60% to 70% of the transaction price, and the maximum loan term has been extended from seven years to ten years [4][5]. Group 3: Risk Management - The new regulations emphasize a balanced approach of "one loose and one tight," enhancing flexibility in supporting the real economy while being more prudent in risk prevention [6]. - Differentiated asset scale requirements have been established for banks engaging in controlling and equity participation M&A loans, ensuring that banks have the capacity to manage these loans effectively [6][7].