11 ultra-day debt to pay the crisis P2P network loan guarantee distress

At the end of May this year, due to the announcement of * st Ultraday, the company suffered losses for three consecutive years and the previously issued 11 super-daily bonds were terminated by the Shenzhen Stock Exchange. Since then, there have been media reports recently, as the debt was issued as collateral material related to the issuer and other creditors involved in legal disputes by the relevant departments to take judicial measures to preserve, which means that the debt of 11 super-Japanese debt Recovery work temporarily into an embarrassing situation. Some market participants told reporters that the 11 super-debt problems in the process of increasing the trust part of the credit network, in fact, widespread network credit industry, the incident is by no means an isolated event, which to some extent has sounded Network loan industry guarantee mode contains the alarm of the risks.

The person to reporters a detailed description, as a means of increasing credit, secured previously used in the net credit industry by a large number of platforms used, for ordinary investors, they are not sure what the real means of increasing credit There is also risk on the one hand, but only one-sided that as long as the guarantee will certainly be able to resolve the risk, this understanding is very wrong. In theory, the guarantee can indeed play a role, but the crux of the problem lies in whether there is moral hazard inherent in the institution providing the guarantee. Just as the issue of the super-Japanese debt exposed at this time is the same, if the collateral itself has already provided a pledge for the outside, then it re-guarantees, in the same sense, belongs to the second mortgagee, the court in the process of handling disputes In the first protection is the interests of the first mortgagee, even in the asset disposal, liquidation process is also in accordance with this standard. But most investors at this point do not know. This is still a pledge of security, on the other hand, net loan industry, in addition to the money is still focused on the mortgage loan, the rest of the large number of platforms provided by the guarantee are mostly verbal guarantee, this There is actually no difference between the guarantee and the non-guarantee, and even if the verbal guarantee is implemented, it is the standard practice for the remaining claims-guaranteeing companies to pay before the liquidation of the asset is completed. If the guarantee company out of the condition is as long as the breach of contract on the first time to be paid, then either himself in the loan platform for the corresponding margin as collateral, or the security company itself is to the affiliates financing.

Investors are generally low awareness of the risks contained in the guarantee, the most critical factor is the existence of a serious problem of information disclosure on the platform, which is yet to be clarified in the follow-up regulatory policies.