The trust financing of enterprises is direct financing, and the fund pool of trust companies is indirect financing. Direct financing or indirect financing mainly depends on the deposit-loan relationship between financing participants and banks. The creditor-debtor relationship is between enterprises and banks, so it is indirect financing.

Trust companies generally act as intermediaries, and the relationship between creditor's rights and debts is the relationship between enterprises and investors, so most trusts are directly financed.

Second, what is indirect financing? How many ways are there for direct financing?

What is indirect financing? How many ways are there for direct financing?

Indirect financing is the symmetry of direct financing, also called "indirect financing", so what are the ways of direct financing? What is the difference between direct financing and indirect financing?

The symmetry between indirect financing is also called "indirect financing". Refers to the units that temporarily idle monetary funds in the form of deposits, or buy securities issued by banks, trusts, insurance and other financial institutions, and hand them over to these financial intermediaries, and then these financial institutions provide funds to these units in the form of loans, discounts, or by purchasing securities issued by units that need funds, so as to realize capital financing.

Financing through financial intermediaries. In this financing mode, in a certain period of time, the fund surplus unit will deposit funds into financial institutions or buy various securities issued by financial institutions, and then these financial institutions will provide the centralized funds to the fund demand units for compensation. The supply and demand sides of funds do not meet directly, and there is no direct creditor-debtor relationship between them, but financial institutions participate as creditors and debtors. Compared with direct financing, indirect financing through intermediaries such as banks has its outstanding small amount of funds, and these intermediaries have unique advantages in ensuring the safety of funds and improving the efficiency of capital use, which is beneficial to both investors and financiers.

The way of direct financing is IMF, and the means are fake stocks and secret loans.

The so-called fake stock secret loan, as its name implies, means that investors invest in projects in the form of shares, but actually do not participate in project management. This method is mostly adopted by international funds. The disadvantage is that the operation cycle is long, and it is necessary to change the shareholder structure and even the nature of the company. There are many funds in the world, so the nature of this company will be changed to Sino-foreign cooperation.

Bank's Acceptance Bill

The investor will transfer a certain amount, such as 1 100 million yuan, to the company account of the project party, and then immediately ask the bank management to take away the bank acceptance bill. This financing method is of great benefit to investors, because it actually turns 1 100 million yuan into several uses. He deposited another 1 100 million yuan in the local bank. At least 20% off. But the question is, if there is 1 billion in the company account, can the bank provide 1 billion to 90% of the bank acceptance bills? The amount in the company account is still a question. It depends on the level of the company and its relationship with the bank. In addition, the biggest drawback of acceptance is that 12 months can only be opened for 6 months. It is very troublesome to continue the dialogue every six months or 1 year.

Direct deposit

This. Because direct deposit itself is against bank regulations, the enterprise must open an account in the bank from the investor to the bank designated by the project party. Then sign an agreement with the bank. Promise not to misappropriate the money within the specified time. If the bank gives the project party less than or equal to this amount, it is not a pledge to the bank. I don't agree to use this money to finance. It's called a large pledged deposit. Of course, that kind of financing also has its own violations of bank regulations. Commitment to close the position 30 days before maturity. In fact, after he gets this thing, he can take it to other banks for refinancing.

bank letter of credit

The bank letter of credit of a global commercial bank that has a national policy and spends money on financing is regarded as having the same amount of deposit in the enterprise account. In the past, many enterprises used this kind of bank letter of credit to circle money. Therefore, the national policy has changed slightly, making it difficult for enterprises in China to raise funds in this way. Only wholly foreign-owned enterprises and Sino-foreign joint ventures can do it. Therefore, if China Bank raises funds, it must first change the nature of the enterprise.

Loan guarantee letter

More investment guarantee companies in the market can obtain much-needed funds by paying higher interest than banks.

entrusted loan

The so-called entrusted loan means that the investor sets up a special fund account for the project party in the bank, then transfers the money into the special fund account and entrusts the bank to lend money to the project party. This is the comparative form. Usually, the audit of the project is not very strict, and the bank is required to make a commitment to collect interest and repay the principal from the project party every year. Of course, those who don't repay the principal only need to promise to collect interest every year.

Direct payment

Direct payment means direct investment. Such strictly examined projects often require fixed assets mortgage or bank guarantee. Interest is also relatively high. Mostly short-term. The minimum personal contact is 18 annual interest. Generally above 20.

hedge fund

There is a kind of entrusted loan in the market that does not repay the principal and interest, and it is a typical hedge fund.

The difference between indirect financing and cut-off financing

The advantages of indirect financing are:

Banks and other financial institutions have many outlets, and the starting point for absorbing deposits is low. They can widely raise idle funds from all walks of life, and every little makes a mickle, forming huge funds.

② In direct financing, the financing risk is borne by the creditors alone. In indirect financing, because the assets and liabilities of financial institutions are diversified, financing risks can be borne by diversified asset-liability structures, which is more secure.

③ Reduce the financing cost. Because the emergence of financial institutions is the result of specialized division of labor and cooperation, it has the expertise to understand and master the relevant information of borrowers, and it does not need every surplus person to collect the relevant information of deficit persons, thus reducing the financing cost of the whole society.

④ It is helpful to solve the problems of adverse selection and moral hazard caused by information asymmetry.

The limitation of indirect financing mainly lies in that financial institutions, as intermediaries between capital suppliers and demanders, cut off the direct connection between capital suppliers and demanders, and to some extent reduced investors' concern about the operating conditions of investment objects and the pressure of fund raisers on the use of funds.

Direct financing is a financing activity that the government, enterprises, institutions and individuals directly go to the lender of last resort without the medium of financial institutions. Financing funds are directly used for production, investment and consumption, and the most typical direct financing is the listing of companies.

Indirect financing is a financing activity from the last borrower to the last lender with financial institutions as the medium, such as corporate financing banks and trust companies.

; 3. Is the bank wealth management product business directly financed?

No, direct financing refers to a financial intermediary in which the fund provider directly provides funds to the fund demanders without financial intermediary. Such as stocks, bonds and so on. The bank's wealth management products are that depositors pay for wealth management products, and banks use the funds raised by issuing wealth management products to provide financing to enterprises or other financing demanders, so it is indirect financing.

In China, the financial intermediaries mentioned above usually refer to banks and "shadow banking" institutions that play a role similar to banks. Therefore, bank loans, trust loans and so on are indirect financing. There are many forms and ways of financing, so it is impossible to say that all bank wealth management products are financing. Wealth management products are developed by banks themselves or sold by agents. When customers buy wealth management products, please pay attention to the signed wealth management product agreement and product specification, which all introduce the characteristics of the products in detail.

Extended data:

The direct financing tool of bank wealth management is a standardized investment carrier established by commercial banks as promoters and managers, directly invested by debt financing of individual enterprises, uniformly managed by designated registered custody and settlement institutions, invested by qualified investors and disclosed in designated channels. Direct financing instruments include government bonds, corporate bonds, commercial bills, company stocks, etc.

Financing tool-investment fund securities: investment fund securities are issued to the public by fund sponsors, indicating that the holders enjoy the rights of asset ownership, income distribution and residual assets distribution according to their shares. Issuing investment fund securities is an indirect financing method. Small and medium-sized investors can buy investment fund securities, hand over the funds to professional fund managers, and make large investments in accordance with the investment principles and portfolio principles stipulated in laws and regulations and fund contracts.