刚刚过去不久的十月，对消费金融公司、中小银行与助贷行业而言都难言平静。 在"助贷新规"正式实施后，又一场针对持牌消费金融机构新发利率的压降开启。21世纪经济报道记者从 多家消金、助贷机构方面了解到，经监管窗口指导，持牌消金机构需从明年一季度开始，将当季整体新 发放贷款的平均综合融资成本压降至20%（含）以内。此外，针对小贷行业利率上限的压降政策也正在 征求意见中。 相较于此前要求在12月中旬将单笔贷款加权平均利率（年化利率，下同）压降至20%以内的监管指导， 如今这一要求已给出一定缓冲期，并在一定程度上放宽了利率范围。但对于消金和助贷行业，以及需 要"未雨绸缪"的中小银行而言，都存在一定压力。在这样的背景下，有机构推迟融资计划，有机构暂停 新发贷款，也有机构开启人员优化。 多位受访人士均向记者表示，"降本"将成为接下来行业的关键词，过去依赖助贷拓展下沉客群做大市场 规模的模式可能难以延续。与此同时，不仅是消金行业，中小银行下一步也必须完成自营渠道建设这一 重要命题。 图片来源：IC photo多家消金机构平均贷款利率在20%以上 近年来，在LPR不断下调、金融消费者权益保护愈加完善的背景下，对客贷款利率压降是 ...

记者丨李览青 编辑丨周炎炎 刚刚过去不久的十月，对消费金融公司、中小银行与助贷行业而言都难言平静。 在"助贷新规"正式实施后，又一场针对持牌消费金融机构新发利率的压降开启。 21世纪经济报道记者从多家消金、助贷机构方面了解到，经监管窗口指导，持牌消金机构需从明年一季 度开始，将当季整体新发放贷款的平均综合融资成本压降至20%（含）以内。此外，针对小贷行业利率 上限的压降政策也正在征求意见中。 相较于此前要求在12月中旬将单笔贷款加权平均利率压降至20%以内的监管指导，如今这一要求已给出 一定缓冲期，并在一定程度上放宽了利率范围。但对于消金和助贷行业，以及需要"未雨绸缪"的中小银 行而言，都存在一定压力。在这样的背景下，有机构推迟融资计划，有机构暂停新发贷款，也有机构开 启人员优化。 多位受访人士均向记者表示，"降本"将成为接下来行业的关键词，过去依赖助贷拓展下沉客群做大市场 规模的模式可能难以延续。与此同时，不仅是消金行业，中小银行下一步也必须完成自营渠道建设这一 重要命题。 多家消金机构平均贷款利率在20%以上 近年来，在LPR不断下调、金融消费者权益保护愈加完善的背景下，对客贷款利率压降是整个金融行业 的 ...

Core Viewpoint - The implementation of new regulations in the consumer finance and lending industry is leading to a significant reduction in interest rates, creating pressure on licensed consumer finance institutions and small banks to adapt their business models and cost structures [1][2]. Group 1: Regulatory Changes - The new "lending regulations" require licensed consumer finance institutions to lower the average comprehensive financing cost of newly issued loans to 20% or below starting from the first quarter of next year [1]. - There is an ongoing consultation regarding the interest rate cap for the small loan industry, indicating a broader regulatory trend towards lowering borrowing costs [1]. Group 2: Industry Impact - The recent interest rate reduction marks the second time in five years that rates have been lowered, with the previous reduction occurring around 2021 when the annual interest rate cap for personal loans was reduced from 36% to 24% [2]. - Many consumer finance institutions are now reporting average loan rates below the 24% threshold, but there is significant variation in pricing strategies among different institutions [2][3]. Group 3: Cost Structure and Challenges - The cost structure for consumer finance institutions includes funding costs, customer acquisition costs, risk costs, and operational costs, with funding costs having decreased significantly in recent years [4]. - Despite lower funding costs, both customer acquisition and risk costs have increased, leading to a challenging environment for maintaining profitability [4][6]. Group 4: Market Reactions - Following the new interest rate requirements, many consumer finance institutions have tightened their customer acquisition strategies, with some postponing financing plans and halting new loan issuances [5]. - The overall sentiment in the industry is shifting towards "cost reduction," as institutions face difficulties in expanding their market size under the new regulatory framework [5][6]. Group 5: Future Outlook - The consumer finance industry is at a crossroads, needing to enhance self-acquisition capabilities to lower customer acquisition and risk costs amidst a challenging growth environment [7]. - Small banks, particularly in the central and northeastern regions, are also feeling the impact of the new regulations, with some ceasing partnerships for personal internet consumer loans due to increased compliance costs [8].