The Central Bank Puts Pressure On The Four Lines Of "Encirclement And Suppression". Where Does The Balance Go?

< p > > a href= "http://sjfzxm.com/news/index_s.asp" > balance treasure < /a > with four big lines, the four lines of the whole line limit fast payment to turn into the amount and enter the white hot.

In March 24th, the central bank said that "no early withdrawal of deposits and no penalty" is allowed, which means that Internet financial regulation is overweight again.

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< p > March 28th, the reporter contacted the commercial bank which had worked with the Celestica fund to understand that the bank's latest weekly deposit rate was 4.25%, 4.765% in one month, and 5.5% in three months.

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< p > reporter found that the agreement deposit rate of the month's cooperation with the Bank fell by nearly 322.20bp (1bp=0.01%) compared with the highest point in January, and the three month interest rate also fell by 41.82bp.

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< p > < strong > under a series of combined attacks, where does the balance treasure go? < /strong > /p >

< p > < strong > the central bank puts pressure on the four lines of "encirclement and suppression" > /strong > /p >

< p > March 24th, following the suspension of the virtual credit card, the two-dimensional code < a href= "http://sjfzxm.com/news/index_s.asp" > the payment of < /a >, and the sharp reduction of the network payment pfer quota, the central bank once again indicated that it does not permit the existence of the contract clause that deposits ahead of time without penalty.

The industry believes that this means that the Monetary Fund's dividend policy will end.

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Prior to the P, the China Banking Association has moved "to deposit deposits from banks and other Internet Financial IMF funds into general deposit management".

But this proposal has been questioned by the relevant people.

Industry experts believe that the Celestica fund, which is based on the balance of treasure, is a financial institution. Its deposits in commercial banks meet the requirements of interbank deposits.

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< p > then the CBRC conducts research on bank savings and Internet financial management, especially for the "two rate consensus" problem.

The "two rate consistency" means that the interest rate of the fund agreement is equal to the regular interest rate when it is withdrawn in advance.

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Prior to "P", the fund company withdrew deposits from the bank ahead of time, but still enjoyed the regular interest rate level.

This "privilege" that enjoys interest rate concessions is generally presented as a "supplementary clause" in the cargo base and bank agreement, and is recognized by the SFC and the CBRC, and the interest rate loss is borne by the bank.

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Wang Qunhang, director of Jinxin fund evaluation center of P, believes that the central bank's call for "no penalty in advance" is intended to address the balance of treasure and also "drag" the entire money market fund.

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< p > a Asset Management Co executive said in an interview with the China enterprise daily that the central bank's regulation and overweight will make the balance treasure suffer great impact in the future.

"The IMF behind the balance treasure needs to set aside more reserve funds in order to avoid the extreme situation such as large redemption, and this will inevitably have an impact on the proceeds of the monetary fund, thereby reducing the ability of the fund to absorb money, and the growth or weakening of the scale of the balance treasure."

The executives said.

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At the same time, at the same time, at the same time, the hidden battle between the balance treasure and the four big banks has also been accepted by the four major banks, which do not accept their respective branches and the a href= "http://sjfzxm.com/news/index_s.asp" > money market "/a" fund represented by the Tianhong fund of the balance Bao, and have been upgraded to the four major banks in the near future to reduce the single and monthly accumulative limits on Alipay's fast payment channels respectively.

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< p > industry insiders say that the four major banks have reduced the amount of quick payment, which is essentially limiting the purchase amount of products such as balance treasure.

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< p > < strong > agreement deposit rate continues to decline < /strong > < /p >

< p > < strong > the income of the balance treasure is tight. < /strong > < /p >

< p > it is understood that Celestica fund and a number of joint stock banks in the agreement deposits have cooperation.

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< p > recently, a commercial bank insider who has worked with the Celestica fund told the China Enterprise News. "In the past three months, the highest interest rate in a week is 5.4090% in February 7th. The highest interest rate in one month is 7.4720% in January 20th, while the three month deposit interest rate has stabilized at 5.5% interest rate since March 12th, after January 17 (the highest point this year) was 5.9182%."

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< p > < < a href= > http://sjfzxm.com/news/index_s.asp > > agreement deposit interest rate < /a > is determined according to the bank's own guidance interest rate, and the guiding interest rate will change according to the daily cost of the bank's capital and the fluctuation of market capital price.

A Huaxia Bank insider told the China enterprise news that more market behavior. When the funds are tight, the offer we offer will be slightly higher. When the fund is loose, the quotation will be slightly lower than the market price.

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< p > however, even if the bank's interest rate reduction is classified as market behavior, the "China Enterprise News" reporter found that the income of the "Internet treasure" and other Internet "baby" has generally dropped to the word "5".

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< p > March 26th, the annualized yield of the balance treasure reached 5.42%, compared with 6% at the peak level, a decrease of 58bp.

Among them, Suning zero money treasure and NetEase finance are docking huitianfu Jinbao monetary fund, 26, its 7 annual yield is 5.494%.

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< p > an internet financial observer told the China enterprise daily that the bank's interest rate on deposit deposits is not obvious in the short term.

But in the long run, it will have an impact on the yield of the balance treasure, reduce the expected rate of return and weaken its ability to absorb gold, thereby limiting the large-scale growth of the balance treasure.

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< p > < strong > dark warfare or mutual loss. < /strong > /p >

< p > data show that as of the second week of March, the balance treasure has accumulated at least 500 billion yuan deposit, becoming the fourth largest Monetary Fund in the world.

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< p > "at present, the size of the balance treasure and the number of users will not be reduced. The yield of the balance treasure is generally higher than the interest rate of the current bank deposit and the purchase point is lower, but the expansion rate of the balance treasure will be slightly lower than before."

Liao Yongxin, an insider of pioneer Efficient Finance Holding Ltd, pointed out in an interview with the China enterprise daily.

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< p > however, insiders pointed out that in addition to the increasingly stringent regulatory requirements of the regulators, the balance of the Internet's < a href= "http://sjfzxm.com/news/index_s.asp" > financial innovation < /a > and the rise of traditional banking Internet Finance and the trend of interest rate marketization in the future will become a challenge that the balance treasure can not evade.

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< p > another expert said that if the escalation of the balance Bao and the bank's Secret warfare would bring about a situation of both sides.

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< p > "market development has its own rules and will not change because of one or two rigid measures.

Even if banks put pressure on the balance treasure with their inherent status and advantages, they will not be able to guarantee that investors will return their savings to the current account.

A director and general manager of a financial holding company with no name, the product investment department, told the China enterprise daily that if the bank aggressively attacked and the balance treasure was hit, investors would redeem it in large quantities.

However, the scale of about 400000000000, even if it only redeem 100 billion yuan, is also a great impact on banks. The final result is that banks and the balance treasure will suffer from both sides.

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< p > this person predicts that there will be no direct rigid confrontation between the banks and the "balance treasure", but a selective cooperation. When there are common interests, we will cooperate with each other without a common interest. Then we will take two shots.

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< p > > a href= "http://sjfzxm.com/news/index_s.asp" > Ali < /a > CEO, Peng Xiao, also said: "we hope to continue our good cooperation with all major businesses and achieve win-win results.

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< p > "balance treasure is only to allow users to put in the balance of Alipay to obtain profits through relatively safe investment funds. The original intention of balance treasure has never been to subvert or defeat anyone."

Peng Lei said.

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