5月12日，上海尚诚消费金融股份有限公司（以下简称"尚诚消费金融"）公示贷后合作机构信息。经梳 理，截至5月13日，已有多家商业银行、持牌消费金融公司公布助贷合作名单。 多位受访者认为，机构公布助贷合作机构名单，旨在落实4月1日国家金融监督管理总局发布的《关于加 强商业银行互联网助贷业务管理提升金融服务质效的通知》（以下简称《通知》）相关监管规定，助贷 行业也将面临洗牌。 名单涉及多类型机构 具体来看，尚诚消费金融公示的贷后合作机构涉及平安融易（江苏）融资担保有限公司、蚂蚁智信（杭 州）信息技术有限公司等21家。 而3月份，尚诚消费金融曾在官网公布"产品合作机构信息"。从披露的名单来看，涉及深圳前海微众银 行股份有限公司、度小满科技（北京）有限公司（简称"度小满"）、蚂蚁智信（杭州）信息技术有限公 司、平安融易（江苏）融资担保有限公司、北京方向无限科技有限公司（滴滴旗下）等。 银行方面也在积极披露助贷合作名单。比如，4月30日，广州银行发布互联网贷款业务合作机构名单， 其中共有17家合作机构，涉及平安融易（江苏）融资担保有限公司、重庆蚂蚁消费金融有限公司、浙江 网商银行股份有限公司、中证信用融资担保有限公司等 ...

Core Viewpoint - Beijing's financial regulatory authority has issued a notice to strengthen the management of assistive lending businesses, signaling a crackdown on the "membership rights" model that obscures borrowing costs [1][2][5] Group 1: Regulatory Changes - The notice requires clear agreements on comprehensive financing cost ranges between platform operators and credit enhancement service providers, ensuring compliance with the Supreme Court's regulations on maximum loan costs [2][6] - The regulatory focus is on eliminating the use of "membership rights" and "value-added rights" to indirectly increase financing costs, which has been a common practice among many consumer finance companies and assistive lending platforms [2][4] Group 2: Industry Impact - The "membership rights" model has been criticized for becoming a means to hide hidden fees in online loans, leading to numerous consumer complaints regarding forced payments and lack of transparency [4][5] - The implementation of the new regulations may lead to a consolidation of the assistive lending market, with smaller institutions potentially being eliminated due to their inability to adapt to the new compliance requirements [6][7] Group 3: Future Outlook - The regulatory framework aims for complete transparency and compliance in financing costs, which may limit the operational space for assistive lending platforms that cannot meet the 24% interest rate cap [6][7] - The new regulations are seen as a starting point for balancing compliance and profitability in the assistive lending industry, rather than a turning point [7]

Core Viewpoint - The new regulation on internet lending by commercial banks, effective from October 1, aims to enhance financial service quality and address the chaotic state of the lending business, particularly focusing on the cooperation between financial institutions and lending platforms [2][6]. Group 1: Background and Context - The rapid growth of internet lending has led to various issues, including unclear responsibilities, opaque pricing mechanisms, and outsourced risk control, which have increased financing costs for borrowers to between 24% and 36% [4][6]. - Previous regulations were insufficient in managing the lending business, prompting the introduction of the new regulation to fill the regulatory gap and clarify the cooperation boundaries between financial institutions and third-party platforms [6][3]. Group 2: Key Features of the New Regulation - The new regulation emphasizes the responsibilities of financial institutions, risk control, interest rate caps, and consumer protection, mandating a more structured approach to managing lending partnerships [6][8]. - Financial institutions are required to disclose their lending platform partnerships, which is expected to enhance transparency and improve service quality [8][9]. Group 3: Industry Impact and Reactions - Many financial institutions have already begun to disclose their "white lists" of lending partners, primarily consisting of leading platforms, indicating a trend towards consolidating partnerships with established entities [9][10]. - The tightening of regulations is expected to lead to a significant industry shake-up, with smaller lending platforms facing challenges in securing funding and potentially being excluded from partnerships with financial institutions [10][9].

Core Viewpoint - The disclosure of post-loan cooperation institution lists by various financial institutions indicates a response to regulatory requirements aimed at enhancing the management of internet lending businesses and signifies an impending reshuffle in the lending industry [1][4]. Group 1: Disclosure of Cooperation Institutions - Shanghai Shangcheng Consumer Finance Co., Ltd. has published a list of 21 post-loan cooperation institutions, including Ping An Rongyi (Jiangsu) Financing Guarantee Co., Ltd. and Ant Zhixin (Hangzhou) Information Technology Co., Ltd. [2] - Other financial institutions, such as Guangzhou Bank and Chengde Bank, have also released their cooperation institution lists, indicating a trend towards transparency in the lending sector [2]. Group 2: Regulatory Implications - The recent notification from the National Financial Regulatory Administration emphasizes the need for commercial banks to manage cooperation with platform operators and guarantee service institutions through a list management system [3]. - The notification mandates that commercial banks must not engage with institutions outside the disclosed lists, thereby tightening the regulatory framework for internet lending [3]. Group 3: Industry Signals and Future Outlook - The disclosure of cooperation institution lists sends three key signals: increased regulatory scrutiny, a push towards compliance and transparency in the lending industry, and improved risk management for financial institutions [4]. - Experts predict that the ongoing regulatory requirements will lead to a more standardized management of cooperation institutions, potentially resulting in a reshuffle where compliant and technologically advanced institutions will thrive, while smaller entities may struggle to meet the new standards [4][5].

Core Viewpoint - The introduction of the "Loan Assistance New Regulations" marks the first time that "assistance loan" business is explicitly included in the regulatory framework, establishing its legal status and reflecting a more flexible and operable regulatory approach aimed at boosting consumption while balancing risks and growth [1][3]. Regulatory Framework - The new regulations emphasize a 24% interest rate cap, which is seen as a critical measure to prevent high-risk clients from entering the financial system, with a warning that clients in the 36% interest rate category may have default rates exceeding 60% [3][4][5]. - The regulations aim to eliminate the phenomenon of "bad money driving out good" and prevent platform arbitrage, ensuring a healthy market clearing process [5][10]. Impact on Industry - The 24% interest rate cap is expected to significantly impact the profitability and business scale of all loan assistance platforms, particularly those relying on high-interest rates to cover high-risk clients [5][9]. - Institutions will need to reassess and adjust their business models to comply with the new regulations, focusing on a more sustainable risk-reward balance [5][11]. Compliance and Operational Changes - The regulations require that banks and loan assistance platforms ensure that all fees are transparent and that the total financing cost remains below the 24% threshold [6][9]. - A "not compliant, then banned" principle is introduced, allowing for innovation as long as it adheres to regulations, with strict penalties for any structures that increase client burdens without proper disclosure [7][10]. Future Outlook - The new regulations are expected to lead to a reduction in the number of loan assistance institutions, particularly those unable to meet compliance requirements, thereby increasing industry concentration [11]. - The focus will shift towards compliance management, consumer protection, and the development of products that align with regulatory expectations and market demands [11].