Constructive lending surged 900 billion bank resorted to the weapon Lanchu

Strong supervision, bank-guaranteed wealth management is gradually shrinking。But instead one of its products, structured deposits。  Credit Funds of Financial Institutions Securities Times reporter Statistics data released by the central bank found that individual structured deposits commercial banks surged 900 billion yuan over last year, or about 48%。  Now more unified perception is banking, structured deposits under the present circumstances external tighter regulatory environment, prevent the loss of an optimal choice for deposit。There are also solid income that past rely on interbank liabilities of the acquired business is gradually blocked the road, structured deposits is "quite upset liabilities shortage"。  Due to the scale of 900 billion surge in "new information management rules" a few restrictions on bank financing – the net value of, just broken against, non-operational capital pool, guaranteed wealth management is gradually withdraw from the stage of history, and included in the balance sheet liabilities, more "security "structured deposits will be the future。  Reporter access to funded large national banks (industry, agriculture, in construction, delivery, postal savings, CDB) Credit Funds discovery: the end of December 2016, the total of the individual structured bank deposits 8994.5.8 billion yuan; to the end of December 2017, this figure soared to 13 333.0.2 billion yuan, or 48.twenty three%。  Small and medium banks RMB credit balance of payments data show that the personal bank echelon of structured deposits 96,912,016 at the end of December.5.2 billion yuan, soaring to the end of December 2017 14322.5.3 billion yuan, soaring 47.78%。  Overall, our personal structured deposits issued by commercial banks in the last year, before the end of the year less than 1.87 trillion yuan, surged to 2.766 trillion yuan, an increase of approximately 48%。  Of course, personal deposits accounted for structured deposits in the entire banking is still very small, much lower than the current deposit and time deposit。Reporters According to central bank data estimates, although the scale up faster, but structured deposits accounted for only by the end of the first three.38% rising to 4 at the end of last year.6%。  How to achieve the expected rate of return?  "Structured deposits" explained the nature of the core, is "structural" in the name。Nexis Securities Institute this have a more transparent and straightforward analysis: structured deposits generally will invest in two major deposits, accounting for the largest part of the general funds and deposits, as used in low-risk bank credit or fixed income, etc. products to ensure basic security and income; the other part is used to invest in high-yield, high-risk products, such as index, currency, gold, and other various financial derivatives that bear a certain risk on the basis on which to obtain a higher income opportunity。  This is defined Nexis Securities Research Institute as "low-risk low-income high-risk high-yield +" combination。  According to the proportion of "low-risk low-income" assets, structured deposits can be divided into a minimum income guarantee type, principal-guaranteed, part of the principal-guaranteed three categories。Reporters did not inquire into the three categories of products accounted for their scale, but reporters found that some of the dots issuance, minimum income guarantee type and principal-guaranteed products occupy the mainstream, the current yield of more than 3.5%?4.3% range。  In some industry view, the deposit is structural in nature, "ordinary deposit + commission option" bank。Banks in the sales process needs to allow customers to test risk tolerance, triggers also need to inform product。Customers may not be able to achieve the expected return on the bet, at your own risk。  How structured deposits can achieve the expected rate of return?Simply put, that is, in the trading day, linked to the subject (such as CSI) observed level above the trigger level stipulated in the contract, then trigger the exercise, investors can obtain a trigger rate of return。If not, you can only get return on investment at the time point。  "Hooks index, gold, foreign exchange rates, oil structured deposit product, this is the same principle。"Minsheng Bank chief researcher Wen-Bin told reporters," because of the volatility of the financial markets, customers are likely to achieve a higher expected return, but may also lose on gambling income, can still be guaranteed principal。Comparison test of different customers understanding of financial markets, I think the space is still very large。"Artifact also at risk" structured deposit inherited guaranteed wealth management positioning as a means of Lanchu, but both modes of operation, asset and investment logic behind the principle is completely different, it can not be said to be a simple alternative。Because there is no risk of a table, the current situation it is compliance。"Zeng Gang China Academy of Social Sciences Research Office of Finance of the bank told reporters。  Zeng Gang prompt, compared to guaranteed wealth management, structured deposits characteristic of exactly how, what kind of risk faced by the bank, what qualifications they should have, whether there should be a relatively systematic regulatory norms, structured deposits might be included in the follow-up supervision the scope of the study。  Reporters found that, included in the liability account, whether to pay registration and insurance, asset included in the subject, whether the provision of risk capital and provisions, structured deposits and guaranteed wealth management is quite similar, the main difference is that more liabilities included subjects and the preservation of financial assets may be invested in non-standard。  "Structured financing have already been made, but the amount is very small, because the previous channel is very clear, we rarely use this tool。Now we all rush to carry out his, then it is not all banks have this qualification it?Because it involves a lot of their own derivatives trading, many small banks do not have this qualification, that mean they have borrowed passages case?But I think structured deposits remain in the table, is still relatively standardized, not as guaranteed wealth management as 'chaos'。"A banking veteran bluntly to reporters。  Nexis Securities Research Institute, said: structured deposits differs from the guaranteed wealth management is embedded options and other derivatives, but these embedded options will also bring some problems to the bank。First, derivatives are highly leveraged, high-risk financial products, are not allowed on Commercial Banks operating range; Second, select options and other derivatives requires a strong investment research team, with the bank's staff is not in place。  But had just the same, the team also believes that means that the corresponding funds in structured deposits back from the table "shadow banking" return "bank", to be unified into the macro-prudential assessment system under (MPA) assessment and other regulatory。From this perspective, a structured deposit has a positive meaning。(Original title: structured deposits surge in 9000 one hundred million!Lanchu bank resorted to the weapon) (Editor: DF353)