The debate over internet finance still seems to be burning

Absrtact: The debate over internet finance seems to be still burning. Yesterday (March 13), the Central Bank survey and Statistics Division director Shengsong said that the balance treasure of these internet finance, is actually playing a financial regulation of the edge, it and the bank is in an unfair competition

The debate over internet finance seems to be still burning. Yesterday (March 13), the Central Bank survey and Statistics Division director Shengsong said that the balance treasure of these internet finance, in fact, is playing the financial regulation of the edge, it and the bank is in an unfair competitive state.

However, in the view of an equity bank financial market analyst, Internet finance is ahead of financial regulation, and the issue of regulation is not innovation.

At the same time, the balance treasure and other products face new substantive "trouble." After the proposed abolition of the Fund's privileges, not to accept the deposit of the agreement, the traditional bank recently began to the Internet financial products transfer limit "brake".

Internet finance becomes a regulatory blind spot

"Balance bao these internet finance, in fact, is playing the financial regulation of the edge, it and the traditional bank is in an unfair competitive state." Because banks need to be tightly regulated, like these internet finance, they have nothing, they are not managed by capital and are not managed by the credit ratio, and it almost does not require any cost. However, its impact on China's financial system is very large, and individuals feel that it should be studied in depth, but also to regulate it. "Shengsong points out.

Silver Network Financial Analyst Niuwen to the daily economic news reporter pointed out that from the point of view of the regulator, internet finance is playing "edge", while standing in the neutral position of the third party, internet finance is a typical "regulatory blind zone." In fact, this state is very normal, no system or regulatory measures can once and for all to deal with the volatile market. Only when something new emerges will the institution be established.

Bank of China [1.63% Capital Institute] Wen Bin, director of Macroeconomics research at the Institute of International Finance, also pointed out that internet finance, represented by internet banking, is the inevitable result of technological progress and financial deregulation, representing the future direction of development and the need to give due respect and encouragement. However, internet finance also needs to develop in the norm.

At present, the sound of financial support and questioning of the Internet, whether it is to develop the norms first, or in the norms of development? Wen Bin said it should depend on the Internet to graft the object. The internet is actually more like a channel, in the era of "channel is King", it can be grafted with different industries and fields. Therefore, in addition to the need for the internet itself norms, and the object of grafting will naturally accept the relevant industry rules.

He further pointed out that, since the balance treasure products carried out the financial activities such as enrichment and finance, accept the corresponding financial supervision is also reasonable, this is not only to give the bank a fair competitive environment, more importantly, through the relevant regulatory requirements to establish a risk prevention mechanism to protect the balance treasure the security of the users.

Encounter the bank "pull off the limit"

Recently, the traditional banks to attack the Internet financial products, the various types of precious products have been limited to transfer limits.

According to the March 13 News of Beijing, ICBC will be a single card to the balance of the upper limit to 5000 yuan, a single day limit of 20,000 yuan, 50,000 yuan per month; ABC set the upper limit on the amount of money inflow to customers, including a single pen of 10,000 yuan, the day 10,000 yuan, and previously on this did not make limit. At the same time, financial management has been limited, ICBC from the previous month can be transferred to 300,000 yuan, a single one-day 10,000 yuan, a single month 50,000 yuan, Guangdong, Everbright, Agricultural Bank for a single one-day 10,000 yuan, a single one-day 30,000 yuan, Citic, Ping ' An, Pudong, Bank of a single pen a day is 50,000 yuan. The lowest limit is Societe Generale, People's livelihood, a single pen 5000 yuan a day.

"This is the inevitable response to financial competition, out of concern about the threat of balance treasure, the bank collectively on the Balance treasure ' off the limit '." But if it is in the normal competition and regulatory environment, this ' pull-off limit ' behavior should not be encouraged. In the short term conducive to commercial banks, especially the big line, but should be unable to prevent the balance of the market competition treasure. Said the equity bank analyst.

Niuwen pointed out that the bank to balance treasure transfer "brake", on the one hand, for the purpose of protecting depositors. But on the other hand, this kind of behavior also makes a certain obstacle to the convenience of the user using the balance treasure, in addition to the balance treasure now the yield is in the decline stage, its income and the bank financial products gradually close, when the user use inconvenience, it is easy to be attracted by the bank financial products.

Wen Bin said that banks to the Internet wealth management products collectively to reduce the transfer limit is a helpless move. From the bank, the balance treasure, such as the rapid growth of Internet financial products on the bank's liabilities, especially the current deposit diversion has a greater impact, and thus forced the bank to continuously issue high cost of financial products to stabilize deposits. The bank's move in the short term will have a certain inhibitory effect on the growth of the balance treasure. In the long run, banks and internet companies have more or less violated market principles. The urgent task is to establish and improve the regulation of Internet finance as soon as possible, so that banks and internet finance are in a fair competition platform.