Central Bank Officials Raise Reserve Requirements For Baby Deposits

< p > following the publication of the "balance of treasure and reserve fund management" published in March this year, Sheng Songcheng, director of the central bank's restructuring division, wrote again the day before yesterday, explaining why the deposits should be deposited. He also clarified that it did not require money market funds to directly deposit reserves.

It is estimated that if the policy is in line, the yield of the balance treasure will fall by 1 percentage points.

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< p > < strong > suggest that the deposit reserve for freight, securities and trust shall be less than /strong > /p.

< p > Sheng Songcheng pointed out that the deposits of the corresponding money market funds deposited into the bank such as balance Bao do not pay < a href= "http://www.91se91.com/news/index_c.asp" > the deposit reserve < /a >, but in fact, the contractual nature of the deposits and the impact on money creation are not different from those of the general enterprises and individuals.

Therefore, this part of the deposit should be managed by the deposit reserve fund.

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< p > aiming at some misreading of the market, he stressed that the deposit of the statutory deposit reserve is based on deposits. The main body of the deposit is the financial institution that absorbs deposits. Therefore, he does not propose to collect money for the money market fund itself, but refers to the deposit reserve fund deposited in the bank, and the main body of the deposit is the bank that absorbs the deposit of the fund.

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< p > it is understood that the implementation of reserve management for the deposit of money market funds into banks is not a precedent for interbank deposit reserve, and the insurance company has turned it over.

However, China's securities companies, trust investment companies, financial leasing companies and other institutions are not currently subject to the statutory reserve requirement management.

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< p > "other non deposit" a href= "http://www.91se91.com/news/index_c.asp" > financial institutions < /a > in the bank's interbank deposits and money market fund deposits are essentially the same. In accordance with the principle of unified supervision, we should also refer to money market funds to implement deposit reserve fund management.

Sheng Songcheng suggested.

For those discussions in the market, Zhou Xiaochuan, the governor of the central bank, once said, "a little more discussion will help to make policy."

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< p > < strong > > a href= "http://www.91se91.com/news/index_c.asp > > balance treasure < /a > yield or down 1 percentage points < /strong > /p >

< p > it is estimated that if the money market fund agreement deposits absorbed by banks are managed by the deposit reserve fund, the cost of this part of the bank will increase significantly, and will directly lead to a decline in the income of the balance treasure.

Assuming that the amount of the balance deposit of the balance investment bank deposit is 20%, the annual yield of the balance treasure will be reduced by about 1 percentage points according to the deposit agreement rate (6%) and the unified statutory reserve requirement rate (1.62%).

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< p > at present, the yield of the baby has fallen below 6%, and the balance treasure is also the key line for keeping the risk 5%. The baby's ability to absorb gold has gradually weakened, and some investors have also turned to the bank's financial products.

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< p > however, the contribution of Bao Bao and other baby products to the financial industry has also been recognized by the regulatory authorities.

At the 2014 global mobile finance conference held yesterday, Huo Xuewen, Secretary of Beijing Finance Bureau, gave a "praise" to the balance treasure.

"We should give the balance Bao a palm, because the balance treasure allows only one dollar people can manage money, so it arouses the financial awareness and financial awareness of the whole people."

Huo Xuewen said, < /p >