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The Spread Is The Source Of The Prosperity Of Underground Banks.

2011/8/19 14:11:00 40

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Outside Interest Rate Underground Banking Boom

At present

RMB

Under the linked exchange rate mechanism, the tightening of domestic money in the territory will raise the interest rate of the private sector, which will only widen the domestic interest rate.

If the international financial crisis leads to the exhaustion of liquidity in the international market, arbitrage activities will not be so frequent. The policy of tightening volume will work, for example, in 2008.

But if international liquidity is not exhausted and funds are still looking for profit opportunities, then the widening gap between domestic and foreign countries will surely break through capital controls, leading to endless arbitrage activities, which will make the regulatory authorities unstoppable.

Chongqing has recently cracked underground illegal operations.

Bank

The case is a typical case.

In August 18th, the Chongqing police announced that they had knocked out a family criminal gang that used the "shell company" to illegally engage in the payment and settlement of funds, and the amount involved was as high as about 56000000000 yuan.

The police said that the Criminal Gang first registered the "empty shell" company in Chongqing, set up more than 20 pairs of public accounts and hundreds of personal accounts, and set up "business contacts" in Shenzhen, Guangdong and other places.

After receiving the business, the business contacts will pfer the funds from the public accounts to the public accounts registered in Chongqing, and the Chongqing side will pfer the funds into the personal accounts. Finally, they will be pferred to the designated accounts of the customers, or illegally exchange the foreign currency for the "customers" and collect the 1 to 3 per thousand of the paction amount as the handling fee.

From this, customers can avoid the people's Bank's management of basic accounts and cash, evade financial regulation, remit funds to other countries, and hide funds.

Thus, the operation scale of underground banks seems to be immense.

hot money

The influx of culprits is fierce, but according to media reports, the facts may be more serious than imagined.

In August 18th, a local branch of the State Administration of foreign exchange sighed when interviewed by the media: "the road is one foot high and the devil is tall."

Although the safe is promoting the off-site inspection system, the camouflage of "hot money" is constantly improving and it is difficult to distinguish authenticity.

According to the above regulators, taking current account as an example, most of the current account accounts are handled by banks. Unless a very special and very large amount of business is checked by the safe, the business under capital account, such as capital of foreign-invested enterprises, can be directly handled by banks. Even foreign institutions can purchase commercial houses in the territory directly to the bank.

Therefore, as long as the information provided to the bank is complete and the data are mutually corroborated and logically strong, it is often possible to defraud the banks from foreign exchange settlement and sale.

The so-called "underground banks" are all unlicensed organizations providing financial services, and there is nothing wrong with their business contents.

The government's strict capital control policy is to limit the cost of capital flows both inside and outside the country. Once the spread of domestic and foreign interest rates soar, the cost and income of them will be disproportionate.

Under the temptation of profiteering, there are naturally grey entrepreneurs who are not afraid of going to the scaffold.

The illegal drug trade is rooted in the physiological addiction of human beings.

The underground banks are coming from behind, but they are purely profit driven by interest rate control.

Drug traffickers may also be condemned by conscience and public opinion, while underground banking operators and related customers are regarded as necessary for life and production. They are legitimate and reasonable.

How can we eliminate the root causes of interest?