Credit loan growth declined in February.

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It was found that the credit balance of banknotes, which had risen steeply by coining new words such as ‘debt investment’ (invest from debt) and ‘young chil’ (attracting even the soul), decreased by about 400 billion won in February. It is analyzed that the demand for credit loans declined as the financial authorities pressed the banking sector to reduce the rate of increase in household loans, and the stock market, which had been struggling every day in the new year, entered a correction phase.

According to banknotes on the 15th, the balance of credit loans as of the 9th, just before the Lunar New Year holiday of KB Kookmin, Shinhan, Hana, Woori, and NH Nonghyup, was 134.788.3 billion won, compared to the end of January (135,2273 billion). 440 billion won decreased.

The demand for credit loans did not decrease since the beginning of the month. Last month, the balance of credit loans increased by 1.7 trillion won in eight business days. The fact that the balance of credit loans decreased by 440 billion won during the seven business days of February is certainly at the level of saying that the soaring growth of credit loans has been greatly reduced.

The decline in credit lending growth seems to have had a major impact on regulatory pressure from financial authorities. The financial authorities suggested that the household credit growth rate should be reduced to 4-5% per year within the next two to three years. Last year, household debt growth was 8.0%. In two to three years, it will reduce the scale of household debt growth by half. In addition, since the end of last year, the total amount regulation, which manages monthly credit loans at 2 trillion won, is reviving, and banking sectors are raising the credit limit by reducing the loan limit or lowering the preferential interest rate.

In addition, it is analyzed that the breakdown of the stock investment craze that was soaring without knowing the sky had an effect on the decline in new loan demand. The KOSPI index exceeded 3200 at the beginning of the year, but since then the 3000 line has been broken, and now it is up and down from 3000 to 3200. Accordingly, deposits in securities accounts of individual investors increased to 70,2202 billion won at the end of last month, and then decreased by nearly 5 trillion won to 65,2489 billion won on the 9th.

However, the demand for credit loans is not expected to continue to decline. From next month, a plan for advanced household debt management announced by the Financial Services Commission will be implemented, and there is a possibility that demand for’last train ride’ loans to avoid this regulation will rush. In addition, if the stock market, which has entered the adjustment phase, passes a breath and reappears, the demand for credit loans may rise again.

An official in the banking sector said, “If credit loans were once used as a bypass for home mortgage loans, they seem to be mostly used for stock investment recently. When the stock price rises, the demand for credit loans increases, and when it falls, it is decreasing. Depending on the stock market situation, the demand for credit loans can increase at any time.”

Reporter Nam Jung-hoon [email protected]

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