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2018年-2021年信托、委托贷款压降
2018年-2021年信托、委托贷款压降
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所属报告:
信达宏观方法论之九:金融数据的研究要点与技巧-221020(28页).pdf
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信托贷款+委托贷款=狭义上的非标,主要受监管政策和实体融资需求两方面影响。2018 年之前,信托贷款和委托贷款很多流入房地产企业、地方政府融资平台和民营企业,通常利率较高,是一种金融创新的产物,用于给中高风险企业或是表内受限的项目融资。所以,信托贷款和委托贷款的规模受基建和地产的融资需求驱动。从这个角度来看,信托贷款和委托贷款也承担了一部分逆周期调节的功能。2018 年以来,随着《资管新规》的推进,信托贷款和委托贷款持续被压缩。2018 年-2021 年信托、委托贷款两项合计每年分别减少 2.3 万亿、1.3 万亿、1.5 万亿、2.2万亿。
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信达宏观方法论之九:金融数据的研究要点与技巧-221020(28页).pdf
关于限制非标的文件
通过其他存款行机构资产负债表看社融和M2
社会融资规模指标发展史
进口金额当月同比与新增外币贷款走势存在较强的一致性
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