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我国《贷款通则》禁止商业银行从事企业并购贷款业务的规定,越来越显示出对企业发展壮大和产业结构升级以及经济结构调整等方面的制约作用,银监会《商业银行并购贷款风险管理指引》的出台可谓正逢其时。本文对我国企业并购贷款实践与政策发展历程进行了回顾,特别是依据企业并购本质与经济后果的分析,认为《商业银行并购贷款风险管理指引》在着重对企业并购贷款业务风险进行规范的同时,在商业银行资格准入、并购贷款支持领域、企业并购融资规模和并购贷款期限限制等方面仍有进一步商榷和改进空间。
China’s General Rules on Loans prohibit commercial banks from engaging in the business of M & A loans, and more and more show the restriction on the development and expansion of enterprises, the upgrading of industrial structure and the adjustment of economic structure. The Guidelines for Risk Management of M & A Loans of Commercial Banks issued by China Banking Regulatory Commission Can be described as the time comes. This paper reviews the M & A loan practice and policy development process in China, especially on the basis of the analysis of the essence and economic consequences of M & A, and holds that “the guidelines for M & A loan risk management of commercial banks” focus on regulating the M & A loan business risks, There is still room for further discussion and improvement in such areas as the qualification of commercial banks, the area of M & A loans support, the scale of M & A financing and the limitation of M & A loans.