The End Of The High Leverage Era Of Insurance Industry: The Future Of Daniel Is Uncertain.

The decision making layer finally realized that in China's financial credit primary market and the powerful market, the use of Wall Street would not work.

In other words, if the financial crisis happened in China in 2008, China would not be able to pass the US dollar to the world like the dollar, but it would be safe for itself.

Deleveraging, deleveraging, China's financial industry is no longer in the form of M2 downlink to leverage, but to arbitrage, through the way of regulatory leverage, crazy bull market premise is to leverage.

Through various plans to enter the stock market, the property market, now, it is impossible to appear.

The craziest insurance, the horse faucet has been reined in.

Xiang Junbo's sacking, no matter what the reason, at least means that the end of the era of insurance madness, insurance companies plus leverage has been strictly controlled, through short-term insurance to the stock market placards, the carnival like monster wave to end.

A man's fall means the end of a policy.

Xiang Junbo was in charge of the period of insurance supervision, which was the period when the insurance industry was on the fast track.

A senior official close to the China Insurance Regulatory Commission said that Xiang Junbo had done three things in the past six years, namely, "loosening the use of insurance funds, promoting the reform of personal insurance and vehicle insurance rates, and establishing the second generation solvency supervision system".

A series of bonuses made the premium income out of negative growth in 2011, reaching 3 trillion and 100 billion yuan in 2016, and the total assets exceeded 15 trillion yuan.

Finally, the crazy expansion is unmanageable. The insurance company does not do universal insurance, but not large-scale expansion is simply an idiot. Universal insurance becomes a representative insurance type that does not cover insurance.

Chen Wenhui, vice chairman of the Insurance Regulatory Commission, once said, "some organizations gather funds vigorously, especially some life insurance companies, and vigorously develop short-term financial risks and high return financial products. They are to scale up and accumulate large amounts of funds, and then invest in high leverage and high-risk operation to gain high returns".

Of course, Xiang Junbo knows, but with the expansion of the scale of expansion, the temptation is no less than drug abuse.

Xiang Junbo's failure means the end of the high leverage era of the insurance industry.

The CBRC and the SFC are also severely deleveraging. Liu Shiyu has been much more concerned. Now the CBRC's series of initiatives are unprecedented.

After taking over as chairman of the CBRC in February 24th, Mr. Guo Shuqing issued a series of regulatory measures.

The reformist is now a vanguard of the bank's leverage.

In April 7th, the CBRC issued the "centralized development".

The Circular of the market chaos regulation (No. 5) requires the organization of the banking industry to concentrate on the market chaos; on 4 10, the CBRC issued the "guidance on banking risk prevention and control work" (referred to as "6"); on 4 10, there was a notice issued recently by the CBRC about the special management of "regulation arbitrage, idle arbitrage and associated arbitrage" in the banking industry, and the three major financial arbitrage activities, with strict wording and detailed rules, exceeding the market expectations.

On the same day, the China Banking Regulatory Commission's guidance on banking risk prevention and control issued by the CBRC clearly pointed out that "take effective measures to reduce dependence on interbank deposits and other interbank financing", "urge faster growth of interbank deposit certificates, and a higher proportion of interbank deposit certificates in the same industry liabilities".

"

A series of policies, in short, regulation is the two word, piercing through.

In the past, banks could "supervise arbitrage, arbitrage and arbitrage", and pfer money to the market through the management plan. There was no bank plan, no mutual funds, and how did the stock market leverage and stock market crash in 2015?

In the past, we could not find the bank's head and find the ultimate responsible person through a penetrating way.

For cross financial products, the general principle is who will be responsible for funding, who will bear the responsibility of management, and who should be responsible for the risks. The corresponding regulatory bodies should also bear regulatory responsibilities.

Interbank deposit rate is an important step in the marketization of interest rates. Now, interbank deposit slip has become a means for banks to save lives.

Due to the concentrated outbreak of credit risk and the high cost of capital, the mode of "interbank deposit and finance" is prevailing.

According to Wu Qi, head of the commercial bank research center of Hengfeng banking research institute, 416 commercial banks have announced the 2017 interbank deposit certificate issuance plan, totaling over 14 trillion and 560 billion, exceeding the actual circulation of 12 trillion and 990 billion last year.

In early March 2017, the scale of interbank deposit certificates had reached 745 billion 490 million yuan.

Low interest capital, high interest rate financing, and arbitrage.

Now it is the insiders who manage the insiders.

A professional said, "the CBRC is really keeping pace with the times. It has not been for three years before it begins to be regulated. Now, the interbank deposit certificate has only been playing for six months."

I didn't know about it before. It was just a loose policy.

Now that closed eyes are open, the days of small and medium-sized banks with high debt rates are sad.

Under the big stick, there can be no monster that can't fight.

Remember, without high leverage, there can be no crazy bull market.

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