Big weekend! The new regulation of regulatory enlargement and recruitment of Internet deposits is here: stop fixed deposits on non-self-operated platforms! The most comprehensive interpretation of 10 key points

Original title: Weekend blockbuster! The new regulation of regulatory enlargement and recruitment of Internet deposits is here: stop fixed deposits on non-self-operated platforms! The most comprehensive interpretation of 10 key points

Summary

[Heavy weekend! The new regulation of regulatory enlargement and recruitment of Internet deposits is here: stop fixed deposits on non-self-operated platforms! The most comprehensive interpretation of the 10 key points]On the evening of January 15, the China Banking Regulatory Commission and the Central Bank issued the “Notice on Regulating Commercial Banks to Carry Out Personal Deposit Business Through the Internet” (the “Notice”), stipulating that commercial banks shall not adopt non-self-operating The online platform carries out fixed deposit and fixed-activation deposit business, and the deposit deposit business is naturally settled when it expires. (China Fund News)

On the evening of January 15, the China Banking and Insurance Regulatory Commission and the Central Bank issued thebankbythe InternetThe Notice on Matters Concerning the Development of Personal Deposit Business (referred to as the “Notice”) stipulates thatbankIt is not allowed to carry out fixed deposit and fixed-activity deposit business through non-self-operated online platforms, and the deposit deposit business will be settled naturally when it is due.

Not long ago, ants,Financial managementthrough,JingdongMany Internet giants such as Finance and Du Xiaoman have removed Internet depositsproduct, This time the new regulations have clarified the regulatory requirements.Many investors believe that this will help control financial risks and reducebankThe cost of deposits is good for bank stocks.

  Guide commercial banks to standardize the development of Internet channel deposit business

The heads of relevant departments of the China Banking and Insurance Regulatory Commission and the People’s Bank said that in recent years, commercial banks haveInternet bankingThe trend of development has continued to sell personal deposit products through the Internet, and useful explorations have been made in broadening banks’ customer acquisition channels and improving service efficiency.However, in the development process, some hidden risks have also been exposed, such asProduct managementIrregularities, inadequate consumer protection, etc. Currently, there is still a lack of targeted regulatory systems for commercial banks to conduct deposit business through the Internet. Therefore, there is an urgent need to make up for the shortcomings of the system and guide commercial banks to standardize the Internet channel deposit business.

Not long ago,Ant GroupBaiduDu Xiaoman,JingdongFinance, Tencent Licaitong, Didi Finance,Ping An of ChinaUnderLufaxOther Internet platforms have successively removed Internet deposit products, causing market attention. The introduction of the new regulations is to clarify the supervision of such products.

  fundJun interviewed manyfund companyFund managers and financial industry researchers of, they believe that there are three main points of the new regulations:

First, banks are not allowed to conduct fixed deposits and fixed-live deposits through non-self-operated online platforms. This means that banks previously sold deposit products through Internet platforms such as Ant, which are not allowed under the new policy and will be completely removed in the future. However, the new regulations also stipulate that the stock business shall be settled naturally when it expires.GuaranteeStable and orderly liquidity is conducive to a smooth transition.

Second, banks can sell deposit business through their own online platforms, but they must strictly complyinterest rateThe self-discipline mechanism of pricing has to be used as marketing, selling deposits through direct sales channels or APP channels.interest rateThe upper bound.

The third is regional restrictions. The Internet deposit business of local banks mainly serves customers in the region where they are not allowed to absorb deposits nationwide.

Regarding the impact of the new regulations, a medium-sized fundthe companyAnalystIn terms of interest rates, in the past, in the case of deposit competition, there was a problem of excessively high interest rates. Some deposit products sold on the Internet were priced beyond the upper limit of the deposit self-regulatory mechanism, resulting in relatively high cost of bank deposits. Now the state advocates The cost of financing in the real economy has fallen, and the costs on the liability side of banks must be lowered so that they can be better transmitted to the asset side. From the perspective of risk, local small banks rely more on Internet deposits, but the proportion of Internet deposits is too high, and there are potential liquidity risks. Supervision takes into account risks, so supervision must be strengthened.

The analyst believes that this is a favorable policy that can control the cost of bank deposits and improve the overall margin of pressure on bank deposits. “After the competitive behavior of high-saving deposits is restricted, the competitive environment will improve, and large banks will benefit, especially commercial banks with better deposit bases. However, because the stock of Internet deposits is not particularly large, the positive impact is limited.”

A small fund in ShanghaiCorporate FinanceThe researcher said, “In the past, someSmall and medium banksThe high demand for deposits through the Internet platform, but there are many problems, and the risks are also great, but now it is stipulated that no one can use the Internet platform to buy deposits. The purpose of this policy is to ease the trend of fierce competition for bank deposits. It is conducive to banks with a good retail foundation. After the new regulations, the cost pressure on the debt side of these banks will be eased. “

The fund manager of a medium-sized fund company in Shanghai believes that the central bank’s removal of Internet deposit products is to control financial systemic risks and help banks reduce the cost of their deposits. “Because there is a competitive relationship between bank deposits and Internet deposits. If the interest rate or expected rate of return is higher than the bank, orSavingsDiversion, or increase the rate of return to absorb deposits. In the future, thissupplyAfter the supervision, it will be cheaper and easier for banks to absorb deposits, which will help banks reduce the cost of liabilities, indirectly reduce bank interest rates on the asset side, lower the cost of maintaining interest margins, and reduce the cost of physical financing. “

  10 main points

The following is a detailed interpretation of the fund based on the contents of the “Notice”, ten key points for your reference.

  1. Do not conduct deposit business through non-self-operated online platforms

The “Notice” emphasizes that commercial banks are not allowed to conduct fixed deposit and fixed-activation deposit business through non-self-operated online platforms, including but not limited to non-self-operated online platforms that provide marketing promotion, product display, information transmission, purchase entrance, and interest subsidies And other services.

However, the supervision also pointed out that commercial banks cooperate with non-self-operated online platforms to recharge by opening a Type II account to help the societypublicTo facilitate the purchase of services, consumption, etc., this part of the business will not be affected and can be continued.

Interpretation: “Answering Questions from Journalists” stated that at present,InsuranceCompanies and fund companies selling related products through non-self-operating online platforms are subject to corresponding supervision. As the most basic financial service, deposits should be subject to stricter supervision.

Commercial banks’ deposit business through non-self-operated online platforms is a product of the rapid development of Internet finance. Recently, business scale has grown rapidly. However, the business also exposed some hidden risks in the development process. It is suspected of violating relevant regulatory regulations and the requirements of the self-discipline mechanism of market interest rate pricing, breaking the restrictions on the business area of ​​local corporate banks, and the stability of non-self-operating online platform deposit products is poor. The liquidity management of commercial banks also brings challenges. Therefore, in order to prevent financial risks, the above-mentioned fixed deposits and fixed-lived deposits business have been suspended in accordance with the law.

  2. The existing deposit deposit business will be settled naturally at maturity

The “Notice” clarified that the deposit business that commercial banks have handled through non-self-operated online platforms will naturally be settled after maturity. During this period, relevant deposits are protected in accordance with the law, and consumers can withdraw or withdraw in advance in accordance with legal provisions and deposit agreements. Commercial banks shall continue to provide related services such as inquiries and fund transfers to effectively protect the legitimate rights and interests of consumers.

Interpretation: Fund company researchers believe that banks cannot carry out fixed deposit and other services through non-self-operated online platforms, which means that Ant or other Internet deposit products will be completely removed from the shelves and the stock will be settled at maturity.

  3. Commercial banks can conduct deposit business through self-operated online platforms

The “Notice” stated that when commercial banks conduct deposit business through various channels such as business outlets and self-operated online platforms, they should enhance their service awareness, provide high-quality and convenient financial services, and actively meet the public’s deposit needs.

What is a self-operated network platform? The “Notice” stated that it refers to a network platform that is independently operated and has complete data rights established by commercial banks in accordance with business needs.

Interpretation: Supervision allows banks to sell deposits on their own online platforms, but requires commercial banks to conduct deposit business via the Internet in compliance with laws and regulations.borrowHelp the Internet and other means to violate or circumvent regulatory regulations.

  4. Strictly implement deposit interest calculation and settlement rules and market interest rate pricing self-discipline mechanism

The “Notice” stipulates that when commercial banks conduct deposit business through the Internet, they shall strictly implement the rules on deposit interest calculation and settlement and the relevant provisions of the market interest rate pricing self-discipline mechanism, and consciously maintain the order of competition in the deposit market.

At the same time, it is also stipulated that commercial banks should set up separate Internet channel deposit statistics accounts under the personal deposit items to strengthen monitoring and analysis.

Interpretation: A financial industry researcher at a fund company believes that the new regulations require strict implementation of deposit interest settlement rules and market interest rate pricing self-regulatory mechanisms. Each region has an interest rate pricing self-regulatory committee and there is an upper limit for interest rates. Now this upper limit cannot be exceeded at all Regulations.

  5. Formulate risk management policies and procedures

The “Notice” pointed out that when commercial banks conduct deposit business via the Internet, they should meet the requirements of product development business processes, clarify the division of responsibilities of the board of directors, senior management and relevant departments, formulate risk management policies and procedures, comprehensively assess business risks, and continue to identify and monitor And control various risks.

Interpretation: According to regulatory requirements, commercial banks should assess business risks and improve risk governance structures when conducting deposit business through the Internet. At the same time, various risks are continuously monitored and controlled.

  6. Guarantee the information security of depositors

The “Notice” requires that commercial banks should adopt effective technical means to strengthen network security protection in accordance with industry network security and data security related standards and regulations to ensure that commercial banks and depositors transfer information, sign agreements, record transactions and other aspects of data. Confidentiality, integrity and authenticity ensure the information security of depositors.

Interpretation: Supervision is mainly to strengthen consumer protection. Commercial banks should strengthen sales management and network security protection when conducting deposit business through the Internet, effectively guarantee the legal rights of financial consumers, and ensure the safety of consumers’ personal information.

  7. Fully disclose information and not use depositsInsuranceImproper publicity

The “Notice” pointed out that commercial banks should strengthen the management of deposit sales through Internet channels, and fully disclose product-related information to the public in prominent positions on relevant pages.Product risk, To effectively protect consumers’ right to know and to make choices.Commercial banks must not use depositsInsuranceImproper marketing and promotion of the contents of the system.

  8. Strengthen liquidity risk management

The “Notice” pointed out that commercial banks should strengthen asset and liability management and liquidity risk management in accordance with regulations, increase the diversification and stability of liability sources, and reasonably control the cost of liabilities.

  9. Local banks serve customers in regions where they have established institutions

The “Notice” requires that local legal-person commercial banks must adhere to their developmental positioning and ensure that deposit business carried out through the Internet is based on serving customers in the area where the institution is established. There are no physical operating outlets, and the business is mainly carried out online, except for those that meet the requirements of the China Banking and Insurance Regulatory Commission.

The “Notice” also stated that the China Banking and Insurance Regulatory Commission and its dispatched offices can put forward prudential regulatory requirements for commercial banks’ cross-regional deposit scale limits based on the risk level of commercial banks.

Interpretation: The fund manager believes that under the new regulations, it should not be feasible for regional banks to operate across regions through the Internet platform in the future. Because local banks are relatively small in size, they are institutions with weaker balance sheets in the banking system, and there are greater potential risks. If they operate across regions, they will increase risks.

  10. “One line, one policy” and “smooth transition”. Those that do not meet the requirements must be rectified in an orderly manner

The “Notice” stated that in accordance with the principles of “one line, one policy” and “smooth transition”, commercial banks are urged to formulate rectification plans for deposits that do not meet the requirements of this notice, and to ensure orderly and stable implementation.

Interpretation: According to the supervision, at present, relevant commercial banks have different scales of deposit business through non-self-operated online platforms, and their respective operating conditions are also different. In order to avoid secondary risks, the “Notice” clarifies that the regulatory authorities can urge commercial banks to rectify in a stable and orderly manner in accordance with the risk level of relevant commercial banks, in accordance with the principles of “one line, one policy” and “smooth transition”.

  Attach the original notice

  General Office of China Banking and Insurance Regulatory Commission

  People’s Bank of ChinaThe General Office Regarding the Regulation of Commercial Banks

  Notice of deposit business related matters

All banking and insurance regulatory bureaus, Shanghai headquarters, branches, business management departments of the People’s Bank of China, central sub-branches in provincial capitals (capitals), central sub-provincial city sub-branches, large banks, joint-stock commercial banks, and foreign banks:

In order to regulate commercial banks’ personal deposit business through the Internet, maintain market order, prevent financial risks, and protect the legitimate rights and interests of financial consumers, with the approval of the China Banking Regulatory Commission and the People’s Bank of China, the relevant matters are hereby notified as follows:

1. Commercial banks conducting deposit business via the Internet shall strictly abide by the “Law of the People’s Republic of China on Commercial Banks”, “The Banking Regulatory Law of the People’s Republic of China”, “Regulations on the Administration of Deposits” and other laws and regulations, as well as relevant provisions of the financial regulatory authorities. Technology and other means violate regulatory regulations and circumvent regulatory requirements.

2. Commercial banks that conduct deposit business through the Internet shall strictly implement the rules for deposit interest calculation and settlement and the relevant provisions of the market interest rate pricing self-discipline mechanism, and consciously maintain the order of competition in the deposit market.

3. Commercial banks should enhance their service awareness, provide high-quality and convenient financial services, and actively meet the public’s deposit needs when conducting deposit business through various channels such as business outlets and self-operated network platforms. The self-operated network platform mentioned in this notice refers to a network platform that is independently operated and has complete data rights established by commercial banks in accordance with business needs.

4. Commercial banks are not allowed to conduct fixed deposit and fixed-activation deposit services through non-self-operated online platforms, including but not limited to non-self-operated online platforms that provide services such as marketing promotion, product display, information transmission, purchase entrance, and interest subsidies. Before the issuance of this notice, the existing stock business of commercial banks will be settled naturally when they expire. Relevant commercial banks shall implement their main responsibilities, do a good job in communication and interpretation with customers, and handle existing business in a stable and orderly manner.

5. Commercial banks conducting deposit business through the Internet shall comply with the requirements of product development business processes, clarify the division of responsibilities of the board of directors, senior management and relevant departments, formulate risk management policies and procedures, comprehensively assess business risks, and continue to identify, monitor and control each Class risk.

6. Commercial banks shall strengthen the management of deposit sales through Internet channels, fully disclose product-related information and product risks to the public in prominent positions on relevant pages, and effectively protect consumers’ rights to know and make choices.Commercial banks must not use depositsInsuranceImproper marketing and promotion of the contents of the system.

7. Commercial banks shall adopt effective technical means to strengthen network security protection in accordance with industry network security and data security related standards and regulations, and ensure the confidentiality of data in various links such as information transmission, agreement signing, and transaction recording between commercial banks and depositors. Integrity and authenticity ensure the information security of depositors.

8. Commercial banks conducting deposit business through the Internet shall strictly abide by relevant regulations on bank account management and anti-money laundering, improve the customer identification system, take effective measures, independently complete customer identification and verification, and report suspicious transactions in a timely manner.

9. Commercial banks shall strengthen asset and liability management and liquidity risk management in accordance with regulations, increase the diversification and stability of liability sources, and reasonably control the cost of liabilities.

10. Commercial banks should set up separate Internet channel deposit statistics accounts under the personal deposit items to strengthen monitoring and analysis.

11. Local legal-person commercial banks must adhere to their developmental positioning and ensure that deposit business conducted through the Internet is based on serving customers in the region where the institution has established. There are no physical operating outlets, and the business is mainly carried out online, except for those that meet the requirements of the China Banking and Insurance Regulatory Commission.

12. The China Banking and Insurance Regulatory Commission and its dispatched offices may put forward prudential regulatory requirements for commercial banks’ cross-regional deposit scale limits based on their risk levels, and at the same time, in accordance with the principles of “one line, one policy” and “smooth transition”, urge commercial banks to respond The deposit business that meets the requirements of this notice shall formulate a rectification plan and ensure its orderly and stable implementation.

13. The China Banking and Insurance Regulatory Commission and the People’s Bank of China at all levels shall strengthen the supervision and inspection of commercial banks’ Internet channel deposit business in accordance with their statutory duties. Regarding various violations of laws and regulations involved in commercial banks conducting deposit business through the Internet, they shall adopt regulatory measures or impose administrative penalties in accordance with the law.

14. For other banking financial institutions to conduct deposit business via the Internet, the above regulations apply.

General Office of the China Banking and Insurance Regulatory Commission General Office of the People’s Bank of China

January 13, 2021

(Source: China Fund News)

(Editor in charge: DF380)

Solemnly declare: The purpose of this information released by Oriental Fortune.com is to spread more information and has nothing to do with this stand.

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