According to the notice, the revision of the standard warehouse receipt pledge financing business and related rules by Dashang mainly includes the following aspects: First, it is clear that members or customers who use standard warehouse receipts to provide external guarantees should register with the exchange; Second, the pledged warehouse receipt can be applied for direct delivery, that is, the borrower does not need to redeem the pledged warehouse receipt, but can apply for direct delivery of the pledged warehouse receipt with the consent of the bank, and the payment for delivery can be directly transferred to the bank account; Third, the standard warehouse receipt for delivery can be directly registered by pledge, that is, the standard warehouse receipt for delivery purchased by customers with bank loans can be registered by pledge after settlement in the exchange.
It is understood that in recent years, Dashang has continuously promoted the cooperation in the silver period, among which the standard warehouse receipt pledge financing is one of the businesses that cooperated with banks earlier, but at present there are still some inconveniences in this business: First, when borrowers want to use the standard warehouse receipt pledged to banks for delivery, they need to prepare extra funds to redeem the pledged warehouse receipt, which increases the financial pressure; Second, it is difficult for futures delivery buyers to realize warehouse receipt pledge financing; Third, the bank can't realize the pledged standard warehouse receipt through delivery.
Market participants told reporters that the revised business rules of the standard warehouse receipt pledge financing of Dashang Institute will help to better meet the financing needs of industrial customers. First of all, the borrower will be able to use the warehouse receipt pledged to the bank for delivery, and directly repay the bank loan with the delivery payment, which improves the efficiency of the borrower's use of funds and ensures the realization of the bank's creditor's rights.
Secondly, it is conducive to improving the enthusiasm of banks to provide warehouse receipt pledge financing for delivery buyers. After the buyer of futures trading uses the funds borrowed from the bank for purchase and delivery, the received standard warehouse receipt will directly complete the pledge registration procedures, so that the bank's creditor's rights can be guaranteed in time through the pledge of the standard warehouse receipt, thus improving the bank's loan enthusiasm.