The financial market has developed from traditional interbank business such as online interbank borrowing to so-called innovative interbank business such as offline interbank deposit and interbank payment, during which various forms of explicit insurance and implicit insurance have emerged; There are various forms of contracts, and drawer agreements are common; Interbank business and shadow banking are intertwined, and the problem of financial market violations is more prominent.
In 20 14, the People's Bank of China and other five departments jointly issued the Notice on Regulating the Inter-bank Business of Financial Institutions, which prohibited the buying and selling of non-standard assets, prohibited various forms of implicit insurance, and clarified the inter-bank financing of individual commercial banks.
The balance of inflow funds shall not exceed one third of the total liabilities of the bank. These measures have played the role of "rooting out the root causes", and the chaos in the financial market has been suppressed to a certain extent. However, the financial market has not stopped arbitrage.
In 20 15, China's interbank financial market rose rapidly, and the issuance of interbank deposit certificates also expanded rapidly in 20 16. Clear interbank funds have been formed around interbank investment, commercial bank wealth management business and bond market.
Arbitrage chain further deviates from the original intention of liquidity management.
Different from the traditional deposit, loan and settlement business of commercial banks, the interbank business of financial institutions is highly contagious and fragile. The huge trading network formed by the interbank business of financial institutions can
Instantaneous transmission risk leads to liquidity problems. 20 13 the "tight money" in China's financial market is not due to the scarcity of liquidity, but the risk multiplication effect caused by the improper behavior of individual institutions. Anyway, too dependent.
For financial institutions, wholesale funds are unwise. Although the wholesale funds in the same industry are easy to obtain, "come quickly and go quickly". Especially the non-standardized assets formed by bond assets and interbank wholesale funds.
The convenience of production and trading is poor, and it is highly dependent on the liquidity of financial markets. If the interbank wholesale funds cannot be transferred on schedule, it may lead to the liquidity risk of financial institutions.
In addition, the maturity mismatch of assets and liabilities caused by the source and application of funds in interbank business is higher than that in off-balance-sheet loan business of banks, which deserves high vigilance. Also, under the main tone of deleveraging and risk prevention, the past inter-bank fund arbitrage chain will in turn become the operating burden of financial institutions.
Fundamentally speaking, the interbank business of financial institutions should serve the purpose of liquidity management, rather than becoming an arbitrage tool for interbank funds, let alone a means of scale expansion. Whether it is to guard against financial risks or to promote the development of the industry.
In order to develop steadily, financial institutions should try their best to avoid the tendency of over-reliance on inter-bank business. Financial management authorities should also formulate rules in a timely manner to eliminate unreasonable interbank arbitrage space, promote the standardized development of interbank business and return to liquidity.
The origin of sexual management.
Law enforcement is lax, and the problem has not been fundamentally solved. It is normal that people can do anything in front of interests.