Analyze balance Treasure "good" and "bad"

Analyze balance Treasure "good" and "bad"

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"Paycircle Payment ring Core Tips" balance bao, once rage Internet financial representatives, the proceeds once let investors flock to become grassroots financial "artifact". Since last year, the balance of treasure in the capital market has been the limelight, the fund has been tepid in the past more than 10 years, but the balance of treasure, the situation immediately changed.

Quickly do big and good balance treasure recently encountered trouble, "Cancel Balance Bao" voice is rising. Whether the balance treasure should be canceled, why should someone "destroy" it? Today we will talk about balance treasure "good" and "bad"!

Balance treasure, once rage of internet financial representatives, the proceeds once let investors flock to become grassroots financial "artifact". Since last year, the balance of treasure in the capital market has been the limelight, the fund has been tepid in the past more than 10 years, but the balance of treasure, the situation immediately changed. Now the domestic base scale of about 1 trillion yuan, only the balance of treasure accounted for more than 400 billion yuan.

Balance treasure and other money market funds, in essence, is the mode of Internet channels + traditional funds, that is, through the Internet channels to the scattered investors of small sums together to buy fund company's money market funds. Since the money shortage last June, the interbank market has a relatively high rate of capital splitting, which has resulted in a higher rate of return on online banking products, such as the balance treasure, at about 6%.

In essence, in fact, a variety of internet "bao" products are mostly money funds. Perhaps the market interest rate should be so high, but because the current implementation is the interest rate control, in the absence of deregulation, so interest rates will be so low, if fully market-oriented, the people should have been higher interest rates. Only now with the balance of treasure this way, so that the common people get the benefits that should have been.

It goes without saying that the existence of Internet financial products can promote the reform of traditional financial system and model, and may even play a role in promoting interest rate marketization. At the same time, the Internet payment platform as a transit, to ordinary people to provide a better investment platform to help everyone, especially the lack of professional financial ability to solve the real negative interest rate problem, it should be said to be a good thing. At the same time, internet finance is currently a channel Builders + limited product intervention, its own advantages are not beyond, which also give the traditional financial model to provide an opportunity for innovation. Standing on the general common People's standpoint, the strength of network finance, Support Online banking, money exists in the bank is to take the poor people's money to subsidize the rich, and internet finance to improve the financial bargaining ability of retail investors, improve the income, is undoubtedly helping the poor to get back their own income.

The latest data from the central bank showed that deposits lost about $900 billion in January, while in the past week the domestic Monetary Fund had been over trillions and the Internet financial products, represented by the balance of treasures, had been injected with a strong "gold-sucking power". Many banks exclaim that a large number of depositors have moved their savings to the balance of treasure, the bank tried to fight back, launched a variety of "balance treasure" products, but indecisive, afraid of the original old and middle-aged deposit customers, will deposit bought these products, increase their financing costs. Although, the balance of the network financial products, such as the bank financing costs increased, but the root of the problem is not the balance of treasure, in the system, the control rate and the agreement between the deposit rate of risk-free arbitrage space. Leave this space, do not change the system, but blame the balance treasure from the chaos, this is unfair.

The rapid development of the IMF not only caused the banks to rush "Bao", but also attracted some doubts. Some people think that the balance of treasure virtually raised the cost of social financing, because the bank's savings costs increased, this part of the cost will be transferred to the head of small and medium-sized enterprises, increase the capital cost of industrial pressure; In addition, the balance treasure through the large-scale purchase of money market funds, for themselves to retain a large amount of profits, and then

In fact, the balance of the essence of the treasure and the context, you can know that the balance of the treasure and did not raise the cost of financing, which is the interbank capital market "market" reflected, even if there is no balance treasure, money market funds will be higher earnings, so said the balance of the rise in financing costs untenable, the balance of treasure at best only provides , and does not affect the overall capital market interest rate level of ability, but the capital market interest rate higher reflection, not the reason, can not the cart before the horse.

Objectively speaking, describing Internet financial products as "financial parasites", "vampires", calls for the elimination of some paranoia. Only to a certain extent, it is a challenge for the banks to stick to the stable profit pattern of deposit and loan spreads.

Analyze balance Treasure "good" and "bad"