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彩票客户端:GF Fund: On-line Asset Management New Regulations Focus on the transformation of Urban Rural Commercial Bank

时间:2018/6/11 19:35:05  作者:  来源:  浏览:0  评论:0
内容摘要: The new regulations on assets management have been more than a month ago. Under the new requirements of breaking rigid countermeasures, imp...

The new regulations on assets management have been more than a month ago. Under the new requirements of breaking rigid countermeasures, implementing net value management, and preventing deadline misalignment, the large asset management industry of one-billion-scale is facing a smooth transition to “unification”. The test of supervision, risk prevention and control. In the new stage, how to find new ideas and achieve new breakthroughs has become a topic of concern for many asset management organizations, especially for urban agribusinesses that have experienced rapid business expansion in the past few years and faced with major regulatory pressures.

In this context, on June 8th, the "City-Shandong Rural Commercial Bank's Transformation Road under the New Assets Regulations and GF Fund 15th Anniversary Forum (Xi'an Station)" hosted by GFDF was successfully held in Xi'an on June 8th. The professionals of large-scale investment management organizations came together to focus on the transformation and reconstruction of the big capital management and launched a fierce and wonderful collision of ideas.

7_89456_10_65_473_9 On the new regulations, banks have been affected or the largest

Since the second half of 2012, asset management industry supervision has entered a wave of relaxation, industry barriers have been lifted, license resources have gradually liberalized, and different types of asset management agencies have flourished. . By the end of 2015, the total size of the asset management industry has reached nearly one billion yuan. Yang Yu, general manager of Huabao Securities Research and Innovation Department, pointed out at the forum that behind the rapid development of the industry, the accumulation of risk inside and outside the bank's watch, the risk of each carrier, and the inability of capital to flow into the real economy, continue to increase risk.

New regulations for asset management came into being under this background, and industry reforms have quietly begun. Qu Qing, general manager of the asset management department of Huachuang Securities, said that the most serious moments of the new regulations' impact on the market have passed, but the impact on institutional behavior and business adjustment has only just begun. He believes that the core spirit of supervision is to prevent high-risk business sources from the liability side, asset side, and business model level in the overall direction of preventing systemic financial risks, and to improve supervision arbitrage and institutions from the source of supervision and regulation itself. The business cost of speculative behavior; eventually prompted the financial industry to return to the origin of the service entity. Specifically, Qu Qing believes that the long-term loose monetary environment and excessive reliance on the market for "Yuangengsong" is one of the causes of systemic risks. Therefore, the supervision tightens liquidity aggregates, and the liabilities to other banks and off-balance sheets More demands were put forward; asset-ends strictly controlled shadow banking, restricted investment in the same industry, and strengthened index constraints. As for the impact of business model supervision, Qu Qing believes that a comprehensive analysis is required. For example, breaking Xindu will cause the stability of the off-balance sheet liabilities of the bank to decline, and the appearance of the table will decline within the table, while the asset side will lead to lower investment risk appetite; Penetration supervision at the level of nesting makes the fund form a complete supervision path from the debt side to the assets side, and rectifies violations.

At the meeting, the participants thought that banks were the ones most affected by the regulation of new regulations. “Although the new regulations on asset management have a certain impact on the various sub-sectors of asset management, they are likely to have the greatest impact on banks' financial management.” 7_89456_23 Huaxia Bank Yuan Zhihong, Deputy General Manager, Asset Management Department, said.

Yuan Zhihong believes that the impact of the new asset management regulations on commercial banks includes the elimination of rigid cash payments, product net value management, breaking the fund pool model, limiting non-standards, eliminating multiple layers of nesting and channels, and clarifying asset management operations are financial institutions. Off-balance-sheet business and other aspects. In its opinion, although the new regulations govern the transition period to 2020, and there are still two and a half years from now, bank assets account for nearly half of the period after 2020, and they will still face greater pressure in the future.

Breaking through the new era of cooperation with the Bank of Liberty Opens

In the future, with the advancement of supervision, the asset management industry will also be “broken”. In the eyes of the participating guests, identifying their own advantages and finding the direction of development is the key to “breaking” and then “establishing.” Among them, the road to breakout from urban and rural businesses is inseparable from close cooperation with other agencies.

Qu Qing believes that the general direction of asset management in the future will be in the direction of professional active management, enhanced risk control, domain segmentation, and technological innovation. The division of labor among various agencies will also be more explicit, such as the bank's advantages in channels and customers. Advantages, but banks need to increase the ability to allocate assets; public funds are the least affected by regulation, their risk control system is the most rigorous, they have a huge background support valuation, and have specialized investment capabilities. Based on the steady digestion of the existing stock business, urban rural commercial banks can cooperate with professional institutions such as public funds, and sell the net-value products of other institutions on a consignment basis.

Yuan Zhihong also believes that relying on the bank's position in the financial system, resource endowments, including brand advantages, channel advantages, customer advantages, etc., the bank's asset management business is still promising, but it is in the transactional business, equity business The investment ability is short board. In contrast, the advantages of public funds are investment management capabilities and transaction execution capabilities, and the cooperation space between the two sides will open in the future.

In response, Yuan Zhihong and Yang Yu have proposed several suggestions for the transformation and development of banks in the wealth management business, including shifting the orientation of the business from bank-centered to customer-centered; resolving organizational issues and enhancing incentive mechanisms; According to their own characteristics to establish a corresponding equity investment team, research internal and external links to the formation of complementary advantages.


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