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本期要點：

一、政策動態

（一）中國銀保監會發(fa)布《商業銀行監管(guan)評級辦法》

（二）趙樂際：嚴肅認真開展巡視(shi)金融單位工作 有力促進(jin)金融業高質量發展

（三(san)）多部門發文防范和處置(zhi)虛擬貨幣交易(yi)炒(chao)作風險

二、行業訊息

（一）海航(hang)控股重整草案今日表決(jue)，預(yu)計千億債務(wu)獲(huo)清償，留(liu)債600億

（二）多家上(shang)市銀行回應與恒(heng)大業務往來：整體風險可(ke)控

（三(san)）“花唄”發布公告(gao)：接入央行征信系統

來源：浙商資(zi)產研究院

一、政策動態

（一）中(zhong)國銀保監(jian)會發布《商業(ye)銀行監(jian)管評(ping)級辦(ban)法》

近(jin)日，中國銀(yin)(yin)(yin)保監(jian)(jian)(jian)(jian)會發(fa)布(bu)《商(shang)(shang)業銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)辦法(fa)》（以下簡稱《辦法(fa)》）。《辦法(fa)》共五章二十(shi)七條，包括總(zong)則(ze)、評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)要(yao)素(su)與(yu)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)方(fang)法(fa)、評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)程序(xu)、評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)結(jie)(jie)(jie)果(guo)運用(yong)(yong)、附(fu)則(ze)，從(cong)總(zong)體上對銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)機(ji)(ji)構(gou)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)工(gong)作進(jin)(jin)行(xing)(xing)(xing)(xing)規范(fan)，完(wan)(wan)善(shan)銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)制(zhi)度，充(chong)分發(fa)揮監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)在(zai)非現(xian)場監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)中的(de)(de)(de)(de)核(he)心作用(yong)(yong)和(he)(he)(he)對銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)風(feng)(feng)(feng)險(xian)(xian)(xian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)(li)的(de)(de)(de)(de)導向(xiang)作用(yong)(yong)。一(yi)是(shi)(shi)建立統(tong)一(yi)協調的(de)(de)(de)(de)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)工(gong)作機(ji)(ji)制(zhi)，增(zeng)強(qiang)規范(fan)性(xing)(xing)和(he)(he)(he)客觀性(xing)(xing)。完(wan)(wan)善(shan)銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)程序(xu)，進(jin)(jin)行(xing)(xing)(xing)(xing)統(tong)一(yi)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)(li)，明(ming)確操作要(yao)求，增(zeng)強(qiang)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)工(gong)作的(de)(de)(de)(de)嚴(yan)肅(su)性(xing)(xing)、規范(fan)性(xing)(xing)。利(li)(li)(li)用(yong)(yong)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)信息系統(tong)開(kai)展評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)工(gong)作，加(jia)強(qiang)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)流(liu)程跟蹤和(he)(he)(he)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)(li)，提(ti)升(sheng)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)效(xiao)(xiao)(xiao)率和(he)(he)(he)準(zhun)確性(xing)(xing)。二是(shi)(shi)完(wan)(wan)善(shan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)內容和(he)(he)(he)方(fang)法(fa)，提(ti)高靈活度和(he)(he)(he)適應(ying)(ying)性(xing)(xing)。堅持“風(feng)(feng)(feng)險(xian)(xian)(xian)為本”原(yuan)則(ze)，優化(hua)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)要(yao)素(su)體系，在(zai)傳統(tong)“CAMELS+”評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)體系基礎(chu)上，突(tu)出公司治理(li)(li)(li)、數據(ju)治理(li)(li)(li)等的(de)(de)(de)(de)重(zhong)要(yao)性(xing)(xing)，并專設機(ji)(ji)構(gou)差異(yi)化(hua)要(yao)素(su)，充(chong)分反(fan)映監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)重(zhong)點和(he)(he)(he)不(bu)同(tong)類型銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)機(ji)(ji)構(gou)風(feng)(feng)(feng)險(xian)(xian)(xian)特征(zheng)。建立評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)結(jie)(jie)(jie)果(guo)級(ji)(ji)(ji)別限制(zhi)和(he)(he)(he)動(dong)態調整機(ji)(ji)制(zhi)，確保對銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)風(feng)(feng)(feng)險(xian)(xian)(xian)具(ju)有重(zhong)要(yao)影響的(de)(de)(de)(de)突(tu)發(fa)事件和(he)(he)(he)不(bu)利(li)(li)(li)因素(su)得到及(ji)時(shi)、合理(li)(li)(li)反(fan)映。三是(shi)(shi)加(jia)強(qiang)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)結(jie)(jie)(jie)果(guo)運用(yong)(yong)，切實提(ti)升(sheng)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)效(xiao)(xiao)(xiao)能(neng)。強(qiang)調監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)結(jie)(jie)(jie)果(guo)是(shi)(shi)綜合衡量(liang)銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)經營狀(zhuang)況、風(feng)(feng)(feng)險(xian)(xian)(xian)程度和(he)(he)(he)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)(li)能(neng)力的(de)(de)(de)(de)主要(yao)依據(ju)，監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)機(ji)(ji)構(gou)應(ying)(ying)當根(gen)據(ju)銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)情況，科學制(zhi)定(ding)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)規劃，合理(li)(li)(li)配置(zhi)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)資(zi)源(yuan)。明(ming)確監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)機(ji)(ji)構(gou)可以根(gen)據(ju)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)結(jie)(jie)(jie)果(guo)，依法(fa)采(cai)取相應(ying)(ying)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)措(cuo)施和(he)(he)(he)行(xing)(xing)(xing)(xing)動(dong)，注重(zhong)“早期介入”，努力實現(xian)風(feng)(feng)(feng)險(xian)(xian)(xian)早發(fa)現(xian)、早介入、早處置(zhi)，防止風(feng)(feng)(feng)險(xian)(xian)(xian)苗頭和(he)(he)(he)隱患演變為嚴(yan)重(zhong)問題。《辦法(fa)》的(de)(de)(de)(de)發(fa)布(bu)和(he)(he)(he)實施，進(jin)(jin)一(yi)步(bu)完(wan)(wan)善(shan)了商(shang)(shang)業銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)規則(ze)，為加(jia)強(qiang)商(shang)(shang)業銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)非現(xian)場監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)、發(fa)揮監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)的(de)(de)(de)(de)重(zhong)要(yao)作用(yong)(yong)提(ti)供了制(zhi)度保障，有利(li)(li)(li)于(yu)合理(li)(li)(li)分配監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)資(zi)源(yuan)、增(zeng)強(qiang)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)能(neng)力，有利(li)(li)(li)于(yu)引導銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)完(wan)(wan)善(shan)風(feng)(feng)(feng)險(xian)(xian)(xian)防控、筑牢全面風(feng)(feng)(feng)險(xian)(xian)(xian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)理(li)(li)(li)體系，有利(li)(li)(li)于(yu)完(wan)(wan)善(shan)金(jin)融風(feng)(feng)(feng)險(xian)(xian)(xian)預警(jing)和(he)(he)(he)處置(zhi)機(ji)(ji)制(zhi)，守住不(bu)發(fa)生系統(tong)性(xing)(xing)金(jin)融風(feng)(feng)(feng)險(xian)(xian)(xian)底線，維(wei)護金(jin)融穩定(ding)和(he)(he)(he)國家(jia)金(jin)融安全。評(ping)(ping)(ping)(ping)(ping)(ping)論：傳統(tong)的(de)(de)(de)(de)銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)評(ping)(ping)(ping)(ping)(ping)(ping)級(ji)(ji)(ji)方(fang)法(fa)側(ce)重(zhong)于(yu)定(ding)性(xing)(xing)評(ping)(ping)(ping)(ping)(ping)(ping)價而疏于(yu)定(ding)量(liang)考核(he)，約束指標的(de)(de)(de)(de)定(ding)性(xing)(xing)與(yu)績效(xiao)(xiao)(xiao)指標的(de)(de)(de)(de)定(ding)量(liang)兩(liang)者之間的(de)(de)(de)(de)差異(yi)導致銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)更傾(qing)向(xiang)于(yu)激(ji)(ji)進(jin)(jin)，因為激(ji)(ji)進(jin)(jin)經營能(neng)夠(gou)帶(dai)來現(xian)實的(de)(de)(de)(de)效(xiao)(xiao)(xiao)益，同(tong)時(shi)約束性(xing)(xing)方(fang)面可以通(tong)過文字表述(shu)繞回監(jian)(jian)(jian)(jian)管(guan)(guan)(guan)(guan)(guan)(guan)(guan)要(yao)求。注重(zhong)早期介入能(neng)夠(gou)有效(xiao)(xiao)(xiao)抑制(zhi)銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)規模擴(kuo)張(zhang)的(de)(de)(de)(de)本能(neng)沖動(dong)，更加(jia)約束銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)有序(xu)經營。

（二）趙樂際：嚴肅認真開展巡視(shi)金融單位工作 有力促進金融業高質(zhi)量(liang)發(fa)展

中(zhong)共中(zhong)央政治(zhi)(zhi)局常委(wei)、中(zhong)央巡(xun)(xun)(xun)視(shi)工(gong)(gong)(gong)(gong)作(zuo)(zuo)領(ling)導(dao)(dao)小組(zu)組(zu)長趙(zhao)樂(le)際26日出席十九屆中(zhong)央第八輪巡(xun)(xun)(xun)視(shi)工(gong)(gong)(gong)(gong)作(zuo)(zuo)動員部(bu)署會并講話。會議堅持以(yi)習近平(ping)新時代中(zhong)國(guo)(guo)特色(se)社會主義思想為指導(dao)(dao)，對集(ji)中(zhong)巡(xun)(xun)(xun)視(shi)金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)單(dan)位黨(dang)(dang)組(zu)織作(zuo)(zuo)出安排(pai)，強(qiang)調要深(shen)入(ru)(ru)學習貫徹習近平(ping)總(zong)書記關(guan)于金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)工(gong)(gong)(gong)(gong)作(zuo)(zuo)、巡(xun)(xun)(xun)視(shi)工(gong)(gong)(gong)(gong)作(zuo)(zuo)重要論(lun)述，準(zhun)確(que)(que)把(ba)握(wo)巡(xun)(xun)(xun)視(shi)金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)單(dan)位工(gong)(gong)(gong)(gong)作(zuo)(zuo)的(de)(de)任務(wu)和(he)重點，不(bu)斷(duan)提高(gao)政治(zhi)(zhi)判斷(duan)力、政治(zhi)(zhi)領(ling)悟力、政治(zhi)(zhi)執行(xing)力，嚴肅認(ren)真(zhen)、深(shen)入(ru)(ru)細致(zhi)開(kai)展巡(xun)(xun)(xun)視(shi)工(gong)(gong)(gong)(gong)作(zuo)(zuo)，堅守(shou)巡(xun)(xun)(xun)視(shi)定(ding)位發現(xian)和(he)推動解決突(tu)出問題(ti)，充分發揮(hui)巡(xun)(xun)(xun)視(shi)利(li)劍(jian)作(zuo)(zuo)用，有力促進金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)業高(gao)質量發展。趙(zhao)樂(le)際指出，巡(xun)(xun)(xun)視(shi)是(shi)政治(zhi)(zhi)監(jian)督、是(shi)全面(mian)(mian)從嚴治(zhi)(zhi)黨(dang)(dang)的(de)(de)有力抓手，要堅持從政治(zhi)(zhi)上看(kan)待(dai)和(he)把(ba)握(wo)，全面(mian)(mian)貫徹巡(xun)(xun)(xun)視(shi)工(gong)(gong)(gong)(gong)作(zuo)(zuo)方針(zhen)，把(ba)督促增強(qiang)“四個意(yi)識”、堅定(ding)“四個自信”、做到(dao)“兩個維護”作(zuo)(zuo)為根本任務(wu)。要聚焦習近平(ping)總(zong)書記和(he)黨(dang)(dang)中(zhong)央關(guan)于加強(qiang)黨(dang)(dang)對金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)工(gong)(gong)(gong)(gong)作(zuo)(zuo)領(ling)導(dao)(dao)、維護國(guo)(guo)家經濟金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)安全、促進金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)業高(gao)質量發展、一(yi)體(ti)(ti)推進懲治(zhi)(zhi)金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)腐(fu)敗(bai)和(he)防控金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)風(feng)(feng)險等重要部(bu)署要求，深(shen)入(ru)(ru)查找黨(dang)(dang)委(wei)（黨(dang)(dang)組(zu)）履(lv)(lv)行(xing)黨(dang)(dang)的(de)(de)領(ling)導(dao)(dao)責任存在的(de)(de)政治(zhi)(zhi)偏差、影響制約金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)業高(gao)質量發展的(de)(de)突(tu)出問題(ti)，督促金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)單(dan)位把(ba)黨(dang)(dang)的(de)(de)政治(zhi)(zhi)建設(she)擺在首位，認(ren)真(zhen)履(lv)(lv)行(xing)黨(dang)(dang)和(he)國(guo)(guo)家賦予的(de)(de)職責使命，完整準(zhun)確(que)(que)全面(mian)(mian)貫徹新發展理念(nian)，更(geng)好滿足人民(min)群眾和(he)實體(ti)(ti)經濟金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)需(xu)求，堅決守(shou)住(zhu)不(bu)發生系(xi)統性(xing)金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)風(feng)(feng)險底線。評論(lun)：金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)行(xing)業具(ju)有資(zi)金(jin)(jin)(jin)密集(ji)、人脈復雜、隱(yin)蔽性(xing)強(qiang)等特征(zheng)，金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)行(xing)業的(de)(de)腐(fu)敗(bai)會直接滲透進宏觀經濟的(de)(de)方方面(mian)(mian)面(mian)(mian)，這是(shi)任何一(yi)個實體(ti)(ti)行(xing)業無法比擬的(de)(de)影響速度。華融(rong)(rong)(rong)(rong)資(zi)產前董(dong)事長賴小民(min)，僅僅一(yi)人腐(fu)敗(bai)就能迅速編(bian)制起腐(fu)敗(bai)鏈條，使用國(guo)(guo)家的(de)(de)資(zi)源制造(zao)金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)風(feng)(feng)險，因此金(jin)(jin)(jin)融(rong)(rong)(rong)(rong)機構的(de)(de)廉政工(gong)(gong)(gong)(gong)作(zuo)(zuo)是(shi)經濟體(ti)(ti)系(xi)內的(de)(de)重中(zhong)之重。

（三）多部(bu)門發文防范(fan)和處置虛擬貨幣交易炒作風險

近期，虛(xu)(xu)(xu)擬(ni)(ni)(ni)貨(huo)幣(bi)(bi)(bi)交(jiao)(jiao)易(yi)炒(chao)作活(huo)(huo)(huo)動(dong)(dong)抬頭，擾(rao)亂(luan)經濟金(jin)融(rong)秩(zhi)序，滋生賭博(bo)、非(fei)法(fa)(fa)集資(zi)、詐騙(pian)、傳銷、洗錢(qian)等(deng)違法(fa)(fa)犯(fan)罪活(huo)(huo)(huo)動(dong)(dong)，嚴(yan)重危害人(ren)民群眾財產安全。為進(jin)一步防(fang)范(fan)和處置虛(xu)(xu)(xu)擬(ni)(ni)(ni)貨(huo)幣(bi)(bi)(bi)交(jiao)(jiao)易(yi)炒(chao)作風(feng)(feng)險(xian)，切實維護國(guo)家安全和社(she)會穩定(ding)，近日，中國(guo)人(ren)民銀行等(deng)多(duo)(duo)(duo)部門發(fa)布《關(guan)(guan)于進(jin)一步防(fang)范(fan)和處置虛(xu)(xu)(xu)擬(ni)(ni)(ni)貨(huo)幣(bi)(bi)(bi)交(jiao)(jiao)易(yi)炒(chao)作風(feng)(feng)險(xian)的(de)(de)通(tong)(tong)知》。通(tong)(tong)知明確(que)，虛(xu)(xu)(xu)擬(ni)(ni)(ni)貨(huo)幣(bi)(bi)(bi)不(bu)(bu)具有(you)與法(fa)(fa)定(ding)貨(huo)幣(bi)(bi)(bi)等(deng)同的(de)(de)法(fa)(fa)律(lv)地位，虛(xu)(xu)(xu)擬(ni)(ni)(ni)貨(huo)幣(bi)(bi)(bi)相(xiang)關(guan)(guan)業(ye)務活(huo)(huo)(huo)動(dong)(dong)屬(shu)于非(fei)法(fa)(fa)金(jin)融(rong)活(huo)(huo)(huo)動(dong)(dong)，境(jing)外虛(xu)(xu)(xu)擬(ni)(ni)(ni)貨(huo)幣(bi)(bi)(bi)交(jiao)(jiao)易(yi)所通(tong)(tong)過互聯網向我國(guo)境(jing)內居民提(ti)供服務同樣屬(shu)于非(fei)法(fa)(fa)金(jin)融(rong)活(huo)(huo)(huo)動(dong)(dong)，參與虛(xu)(xu)(xu)擬(ni)(ni)(ni)貨(huo)幣(bi)(bi)(bi)投資(zi)交(jiao)(jiao)易(yi)活(huo)(huo)(huo)動(dong)(dong)存在法(fa)(fa)律(lv)風(feng)(feng)險(xian)。通(tong)(tong)知指(zhi)出，要構(gou)(gou)建多(duo)(duo)(duo)維度(du)、多(duo)(duo)(duo)層次(ci)的(de)(de)風(feng)(feng)險(xian)防(fang)范(fan)和處置體(ti)系，金(jin)融(rong)機構(gou)(gou)和非(fei)銀行支付機構(gou)(gou)不(bu)(bu)得(de)為虛(xu)(xu)(xu)擬(ni)(ni)(ni)貨(huo)幣(bi)(bi)(bi)相(xiang)關(guan)(guan)業(ye)務活(huo)(huo)(huo)動(dong)(dong)提(ti)供服務，要加強對(dui)虛(xu)(xu)(xu)擬(ni)(ni)(ni)貨(huo)幣(bi)(bi)(bi)相(xiang)關(guan)(guan)的(de)(de)互聯網信息內容和接入(ru)管理，加強對(dui)虛(xu)(xu)(xu)擬(ni)(ni)(ni)貨(huo)幣(bi)(bi)(bi)相(xiang)關(guan)(guan)的(de)(de)市場主(zhu)體(ti)登(deng)記和廣(guang)告管理，嚴(yan)厲打擊虛(xu)(xu)(xu)擬(ni)(ni)(ni)貨(huo)幣(bi)(bi)(bi)相(xiang)關(guan)(guan)非(fei)法(fa)(fa)金(jin)融(rong)活(huo)(huo)(huo)動(dong)(dong)，嚴(yan)厲打擊涉(she)虛(xu)(xu)(xu)擬(ni)(ni)(ni)貨(huo)幣(bi)(bi)(bi)犯(fan)罪活(huo)(huo)(huo)動(dong)(dong)。

評論：限制虛擬(ni)貨(huo)幣(bi)交易炒作(zuo)，一方面是(shi)因(yin)為虛擬(ni)貨(huo)幣(bi)虛擬(ni)了(le)國與國的(de)界限，從根本上(shang)破壞了(le)每個國家的(de)基(ji)礎，另(ling)一方面虛擬(ni)貨(huo)幣(bi)也是(shi)廣泛使用的(de)洗錢渠道(dao)，洗凈的(de)貨(huo)幣(bi)在世(shi)界各地兌換以供給恐怖活動經費，這一點也是(shi)虛擬(ni)貨(huo)幣(bi)威脅各國的(de)原因(yin)。

二、行業資訊

（一）海航(hang)控股重整草案(an)今(jin)日(ri)表決(jue)，預計千億債務獲清償(chang)，留債600億

根據(ju)重整(zheng)(zheng)(zheng)計(ji)劃（草案），截至(zhi)目前，共計(ji)4915家債(zhai)(zhai)(zhai)(zhai)權(quan)人向十一家公(gong)司管理(li)人申(shen)報(bao)9215筆債(zhai)(zhai)(zhai)(zhai)權(quan)，申(shen)報(bao)金(jin)(jin)額(e)合計(ji)3972.09億(yi)(yi)元(yuan)。經管理(li)人審(shen)查，已(yi)經提交法院裁(cai)定確(que)認和預(yu)計(ji)后(hou)(hou)續法院可(ke)以(yi)(yi)裁(cai)定確(que)認的(de)債(zhai)(zhai)(zhai)(zhai)權(quan)共計(ji)約1612.93億(yi)(yi)元(yuan)。摘要披露，約120億(yi)(yi)債(zhai)(zhai)(zhai)(zhai)轉股(gu)(gu)以(yi)(yi)每股(gu)(gu)3.18元(yuan)對(dui)價(jia)，抵(di)償(chang)(chang)(chang)給(gei)海航控股(gu)(gu)及子公(gong)司部分債(zhai)(zhai)(zhai)(zhai)權(quan)人，以(yi)(yi)清償(chang)(chang)(chang)約400億(yi)(yi)債(zhai)(zhai)(zhai)(zhai)務(wu)；同時(shi)集(ji)團承擔(dan)了控股(gu)(gu)普通債(zhai)(zhai)(zhai)(zhai)權(quan)的(de)65%，實現(xian)(xian)了對(dui)之前承諾725億(yi)(yi)債(zhai)(zhai)(zhai)(zhai)務(wu)平移的(de)落地。根據(ju)業(ye)(ye)內人士分析，以(yi)(yi)債(zhai)(zhai)(zhai)(zhai)權(quan)人100元(yuan)債(zhai)(zhai)(zhai)(zhai)務(wu)規模，集(ji)團現(xian)(xian)金(jin)(jin)清償(chang)(chang)(chang)率25%計(ji)算，關聯(lian)方(fang)（集(ji)團）清償(chang)(chang)(chang)率即為100x64.38%=64.38x25%=16.095元(yuan)；債(zhai)(zhai)(zhai)(zhai)務(wu)剩余(yu)額(e)：100元(yuan)-16.095元(yuan)=83.905元(yuan)；每股(gu)(gu)回(hui)本(ben)價(jia)：83.905元(yuan)/（35.61元(yuan)/3.18元(yuan)=11.2股(gu)(gu)）=7.49元(yuan)。也就是(shi)說，實際(ji)的(de)債(zhai)(zhai)(zhai)(zhai)轉股(gu)(gu)價(jia)格在7元(yuan)左右。重整(zheng)(zheng)(zheng)后(hou)(hou)海航控股(gu)(gu)的(de)有息(xi)負債(zhai)(zhai)(zhai)(zhai)降(jiang)至(zhi)600億(yi)(yi)，航空主業(ye)(ye)整(zheng)(zheng)(zheng)體(ti)有息(xi)負債(zhai)(zhai)(zhai)(zhai)降(jiang)至(zhi)1000億(yi)(yi)。重整(zheng)(zheng)(zheng)完成后(hou)(hou)，以(yi)(yi)前高(gao)(gao)額(e)的(de)航空主業(ye)(ye)財(cai)務(wu)總(zong)費用(yong)(yong)預(yu)計(ji)將大幅下降(jiang)近80%以(yi)(yi)上(shang)，飛機(ji)租賃成本(ben)大幅下降(jiang)，經營(ying)性(xing)歷史欠款得到(dao)全面(mian)(mian)清償(chang)(chang)(chang)，賬面(mian)(mian)可(ke)保留(liu)充足現(xian)(xian)金(jin)(jin)。評論：盲目擴張的(de)結果就是(shi)企業(ye)(ye)經營(ying)脆弱性(xing)，高(gao)(gao)額(e)的(de)財(cai)務(wu)費用(yong)(yong)和本(ben)金(jin)(jin)償(chang)(chang)(chang)付壓力導(dao)致(zhi)企業(ye)(ye)抗風險(xian)能(neng)力降(jiang)低(di)，并且(qie)流(liu)動性(xing)受(shou)壓時(shi)資(zi)(zi)產(chan)處(chu)置(zhi)(zhi)會(hui)面(mian)(mian)臨嚴重折(zhe)價(jia)，此(ci)時(shi)倉促處(chu)置(zhi)(zhi)資(zi)(zi)產(chan)變現(xian)(xian)流(liu)動性(xing)會(hui)導(dao)致(zhi)公(gong)司巨額(e)虧(kui)損。整(zheng)(zheng)(zheng)體(ti)而言高(gao)(gao)杠(gang)桿疊加低(di)流(liu)動性(xing)資(zi)(zi)產(chan)（以(yi)(yi)文(wen)旅(lv)資(zi)(zi)產(chan)為甚），在面(mian)(mian)臨市場變化時(shi)極(ji)難抵(di)抗。

（二(er)）多家上市銀(yin)行回應與(yu)恒大(da)業務(wu)往來：整體(ti)風險可控

近期，恒(heng)大(da)(da)(da)集團因債務(wu)(wu)問(wen)題引起廣(guang)泛關(guan)(guan)注(zhu)。早在2021年8月(yue)19日(ri)，央(yang)行(xing)(xing)(xing)(xing)(xing)(xing)、銀(yin)保監會相關(guan)(guan)部(bu)門負責同(tong)(tong)志約談恒(heng)大(da)(da)(da)集團高管。央(yang)行(xing)(xing)(xing)(xing)(xing)(xing)、銀(yin)保監會指出(chu)，恒(heng)大(da)(da)(da)集團作為(wei)房地(di)(di)產行(xing)(xing)(xing)(xing)(xing)(xing)業(ye)(ye)的(de)(de)(de)(de)頭部(bu)企(qi)業(ye)(ye)，必(bi)須認(ren)真落(luo)實(shi)中(zhong)(zhong)央(yang)關(guan)(guan)于房地(di)(di)產市(shi)場平穩健康發展的(de)(de)(de)(de)戰略部(bu)署，努力保持經營穩定(ding)，積(ji)極化解(jie)債務(wu)(wu)風(feng)(feng)(feng)(feng)(feng)險(xian)(xian)，維護房地(di)(di)產市(shi)場和(he)金融穩定(ding)；依法(fa)依規(gui)做好重大(da)(da)(da)事項(xiang)真實(shi)信(xin)息(xi)披露，不(bu)傳播并及時(shi)澄(cheng)清(qing)不(bu)實(shi)信(xin)息(xi)。與(yu)此(ci)同(tong)(tong)時(shi)，記者注(zhu)意到(dao)，近段時(shi)間(jian)(jian)以來(lai)(lai)，多(duo)家(jia)上市(shi)銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)在互動平臺(tai)回應投資(zi)者關(guan)(guan)于與(yu)恒(heng)大(da)(da)(da)業(ye)(ye)務(wu)(wu)往來(lai)(lai)的(de)(de)(de)(de)提問(wen)，投資(zi)者比較關(guan)(guan)注(zhu)的(de)(de)(de)(de)問(wen)題包括(kuo)“貴(gui)行(xing)(xing)(xing)(xing)(xing)(xing)對(dui)恒(heng)大(da)(da)(da)的(de)(de)(de)(de)貸款規(gui)模多(duo)大(da)(da)(da)？”“目(mu)(mu)前(qian)風(feng)(feng)(feng)(feng)(feng)險(xian)(xian)是(shi)否可(ke)(ke)控(kong)？”等(deng)。對(dui)此(ci)，包括(kuo)浙(zhe)商(shang)銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)、光大(da)(da)(da)銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)、興業(ye)(ye)銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)和(he)民生銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)等(deng)多(duo)家(jia)銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)在互動平臺(tai)回復道(dao)，抵質押(ya)充足(zu)，整體風(feng)(feng)(feng)(feng)(feng)險(xian)(xian)可(ke)(ke)控(kong)。除此(ci)之(zhi)外，浦發銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)、鄭州銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)、江蘇銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)、青農商(shang)行(xing)(xing)(xing)(xing)(xing)(xing)等(deng)多(duo)家(jia)銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)表示與(yu)恒(heng)大(da)(da)(da)業(ye)(ye)務(wu)(wu)合作規(gui)模較小，目(mu)(mu)前(qian)項(xiang)目(mu)(mu)整體風(feng)(feng)(feng)(feng)(feng)險(xian)(xian)可(ke)(ke)控(kong)。評(ping)論：中(zhong)(zhong)資(zi)行(xing)(xing)(xing)(xing)(xing)(xing)歷來(lai)(lai)有共進退(tui)的(de)(de)(de)(de)行(xing)(xing)(xing)(xing)(xing)(xing)業(ye)(ye)傳統，此(ci)次多(duo)家(jia)上市(shi)銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)回應恒(heng)大(da)(da)(da)的(de)(de)(de)(de)消息(xi)面(mian)來(lai)(lai)看，各家(jia)銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)對(dui)恒(heng)大(da)(da)(da)都有一定(ding)規(gui)模的(de)(de)(de)(de)風(feng)(feng)(feng)(feng)(feng)險(xian)(xian)敞口。雖然各家(jia)銀(yin)行(xing)(xing)(xing)(xing)(xing)(xing)統一口徑稱抵質押(ya)率(lv)充足(zu)，但授信(xin)時(shi)點的(de)(de)(de)(de)土(tu)地(di)(di)估值(zhi)和(he)現今(jin)的(de)(de)(de)(de)土(tu)地(di)(di)估值(zhi)不(bu)可(ke)(ke)同(tong)(tong)日(ri)而(er)語，國內房市(shi)最火熱的(de)(de)(de)(de)杭州競品質十(shi)宗(zong)土(tu)地(di)(di)全部(bu)流拍，說(shuo)明新政策風(feng)(feng)(feng)(feng)(feng)向下土(tu)地(di)(di)的(de)(de)(de)(de)估值(zhi)與(yu)市(shi)場交易價值(zhi)之(zhi)間(jian)(jian)有一道(dao)巨(ju)大(da)(da)(da)的(de)(de)(de)(de)鴻溝，風(feng)(feng)(feng)(feng)(feng)險(xian)(xian)可(ke)(ke)控(kong)只(zhi)能說(shuo)是(shi)賬(zhang)面(mian)上的(de)(de)(de)(de)風(feng)(feng)(feng)(feng)(feng)險(xian)(xian)可(ke)(ke)控(kong)。

（三）“花唄”發布公告：接入央行征(zheng)信系統(tong)

9月(yue)22日，在(zai)線個人(ren)信(xin)用(yong)(yong)貸(dai)款產品(pin)“花(hua)唄(bai)(bai)”發布公(gong)告稱，在(zai)中國(guo)人(ren)民銀行征(zheng)信(xin)管理(li)部門的(de)指(zhi)導下(xia)(xia)，“花(hua)唄(bai)(bai)”正在(zai)有(you)序推進接(jie)入(ru)(ru)金(jin)(jin)(jin)融信(xin)用(yong)(yong)信(xin)息基礎數(shu)據庫。近年(nian)來借(jie)助科技(ji)優勢、平(ping)臺優勢，網(wang)絡平(ping)臺企業在(zai)提升金(jin)(jin)(jin)融服務效率(lv)和(he)金(jin)(jin)(jin)融體系普惠性、降(jiang)低交易成本方面發揮了重(zhong)要作(zuo)用(yong)(yong)，發展的(de)總體態勢是(shi)(shi)好的(de)，但同時(shi)(shi)也(ye)(ye)存(cun)在(zai)一些違(wei)規問(wen)題(ti)，如無(wu)(wu)(wu)牌或超許(xu)可范(fan)圍從事金(jin)(jin)(jin)融業務等。不(bu)(bu)接(jie)入(ru)(ru)征(zheng)信(xin)系統帶來的(de)直接(jie)后果(guo)，往(wang)往(wang)是(shi)(shi)部分(fen)借(jie)款人(ren)“有(you)恃(shi)無(wu)(wu)(wu)恐(kong)”，因為即便違(wei)約、不(bu)(bu)還(huan)款，自己(ji)的(de)征(zheng)信(xin)記錄也(ye)(ye)不(bu)(bu)會留(liu)下(xia)(xia)污點，自己(ji)今后的(de)經(jing)濟(ji)生活(huo)也(ye)(ye)不(bu)(bu)會受到(dao)負面影響(xiang)。與(yu)此(ci)相對(dui)應(ying)，“暴(bao)力催收”問(wen)題(ti)也(ye)(ye)就(jiu)層出(chu)不(bu)(bu)窮，給(gei)社會穩定留(liu)下(xia)(xia)隱患。接(jie)入(ru)(ru)征(zheng)信(xin)系統后，“花(hua)唄(bai)(bai)”的(de)用(yong)(yong)戶將(jiang)更加嚴(yan)格規范(fan)自己(ji)的(de)借(jie)貸(dai)行為，降(jiang)低對(dui)多頭(tou)借(jie)貸(dai)、過度借(jie)貸(dai)、借(jie)貸(dai)逾(yu)期等不(bu)(bu)良行為的(de)僥幸心(xin)理(li)，逐漸養(yang)成科學、理(li)性的(de)金(jin)(jin)(jin)融消費習慣，量入(ru)(ru)為出(chu)，合理(li)使用(yong)(yong)借(jie)貸(dai)工具。評(ping)論：花(hua)唄(bai)(bai)接(jie)入(ru)(ru)央行征(zheng)信(xin)系統，不(bu)(bu)能(neng)理(li)解(jie)為主(zhu)動招安，而(er)應(ying)當理(li)解(jie)為中央對(dui)實質(zhi)性的(de)類金(jin)(jin)(jin)融機(ji)構監管的(de)加強(qiang)。互聯網(wang)公(gong)司與(yu)金(jin)(jin)(jin)融系統各有(you)長(chang)處(chu)，但是(shi)(shi)取(qu)長(chang)補(bu)短時(shi)(shi)需要注意內(nei)(nei)在(zai)邏輯(ji)沖(chong)突(tu)，金(jin)(jin)(jin)融機(ji)構通常是(shi)(shi)有(you)約束(shu)下(xia)(xia)的(de)錯位(wei)發展，例如按照區(qu)域或客(ke)群劃分(fen)賽(sai)道各自協同發展，互聯網(wang)則強(qiang)調搶道、卡位(wei)、頭(tou)部等無(wu)(wu)(wu)限(xian)競爭(zheng)策略。客(ke)觀(guan)面對(dui)現實，國(guo)際環(huan)境(jing)倒逼下(xia)(xia)國(guo)內(nei)(nei)經(jing)濟(ji)更需要有(you)序而(er)不(bu)(bu)是(shi)(shi)無(wu)(wu)(wu)限(xian)競爭(zheng)，因此(ci)央行出(chu)面主(zhu)動收編花(hua)唄(bai)(bai)，也(ye)(ye)相當于以(yi)一個比較(jiao)積極的(de)態度冷處(chu)理(li)了互聯網(wang)熱潮。