2014-06-10

Chinese Banks Hunt For Deposits As Mid-Year Regulatory Snapshot Approaches

Banks are already hunting for deposits in the hopes of avoiding an expensive race for capital at month-end.

银行时点存款“虚胖”:存单质押成“印钞机”
Around the "hole in the bank," the story never seems endless talk.

Although the end of June the bank's mid-year assessment point, there are about 20 days away, but the money brokers are already busy, QQ, professional website, paste it and other types of cyberspace have left a bank, mutual funds and brokers are looking for traces . "Securities Daily" reporters noted that the recent large sums of money at the end of impulse "discount price" compared to May has risen, in addition, with the deposit pledged a sum of money can be enlarged several times and helped the bank to complete the task Lanchu. However, these funds are mostly just a passer-by on the parent bank deposit score, seconds into the second out to become their choice.

The high degree of leverage behind secured by deposits

"The level of the bank's head office and branches will be the beginning of an annual growth of savings deposits branch network issued a target, but this requirement is usually quite easy to accomplish but people think it might be done, so the bank branch or account manager to complete index need to use various channels to pull deposits complete performance ", accusing him of a vice president of a branch in Beijing, said the reporter," but, at the crucial moment the impulse to help banks and complete the task, is not usually the personal savings funds, but an enterprise of public deposits. "

Reporters noted that the release of brokers seeking funding "small ads", the amount of funds needed are usually very high: the funding gap of individual branches of state-owned big firms tend to billions of dollars in size, and joint-stock bank capital requirements also several hundred million dollars; City firm, the financial needs of agricultural firms typically tens of millions to several billion in size; while some rural credit cooperatives are "size-take-all" - only to find millions of dollars of personal funds also look for large enterprises billions of units of funds calculated.

It is an important point because banks in urgent need of funds for part of the funds have been satisfied with the cooperation with the parties in their amount of funds banks, but chose a highly leveraged way repeated pledge financing.

Noting Lanchu information broker June 8 funds released in a social platform, the reporter: "genuine hand general corporate funds, seeking only six months for the deposit assessment indicators, the real pure sunshine a year deposit hole, certificates of deposit allow pledge, open RMB bank deposits import letters of credit (or a one-year electronic drafts), pre-interest; addition, the bank fixed income wealth management, trust products can do, provided the same is earnings front, allowing the pledge. "

The above information is translated a little more popular, money looking for the next bank in the middle square background Lanchu discount point hole, but the premise is the deposit requirement may be pledged, can open and export letters of credit, and the interest portion of the discount to the bank co-payment to the beginning of party funding.

Why so fancy party funds secured by deposits, said even low discount can it? The answer is that you can leverage deposits pledged to "create" deposits.

Assuming a customer in the bank deposits of $ 1 billion, customers can take advantage of in certificates of deposit with banks lending again pledged a loan of 900 million yuan or so, funds deposited in the bank to continue, which will change the original 10 billion of deposits to "1.9 billion yuan deposits +9 billion loan," If you continue to mortgage, deposit and loan figures are will continue to enlarge.

According to the reporter, because the loans secured by deposits and lending rates generally in accordance with the level of interest rates People's Bank of China executive, but also the visual borrowers with due to fall, and the borrower can repay the loan ahead of time, the two sides signed loan prepayment original given as security for loans contracted rates and the actual number of days of interest-bearing borrowings, so the actual interest rate and loan capital side is not high, but the scale of its manufacturing out of the deposit but can be several times the amount of their own funds.

The letter of credit "play" on a little more complicated. According to a fund to reporters in Nanjing brokers, credit Lanchu mainly divided into domestic factoring companies do business and domestic debt outside the insurance business, "specific practices domestic factoring is when companies buy raw materials from upstream suppliers, if necessary to bank loans, the bank can be placed in bank deposits as corporate credit mortgage, then issuing letters of credit to businesses, enterprises can hold the credit to buy raw materials, suppliers can be held relatively ample credit to fund the bank to exchange Cash, credit in the co-operation of such banks can be used. As a result, corporate deposits in the bank do not have to go out, do not lead to a reduction of deposit amount, while the bank does not need to be actual business loans, bank loans The amount will not increase, the bank's loan-deposit ratio will not result in an increase, "" Paul is outside the domestic debt refers to domestic funds to invest overseas, the current due to the relatively high domestic interest rates, banks can make money in the hands of foreign investors RMB in the bank, then the bank to provide guarantees to foreign bank loans, foreign investors reduced financing costs, and at the same time, the number of deposits of domestic banks also experienced growth. "

Impulse prices edged up funds

Since last year's "money shortage" warning, this time to really pull deposits banks earlier.

"Pre-funding in early June, the price can be cheaper," says one money broker in Fujian reporter pretending to look for money to fill the hole in bank deposits in the time said, "settle down early, will ease the financial side, a little bit less discount also It does not matter, in fact, banks and bank owners are worried to the end of June although the price is high, but the time is too short too late to operate, after all, fake and fake silver hole in the main lot. "

Reporters noted that scheduled late May impulse money out of the hole in the side is a one-time payment of most quoted, most discount price between 0.36% -0.4%; while the current offer many options to date interest-bearing units, each day 0.2% discount. Because funds impulse usually takes three working days (some banks may be compressed to two working days), the bank's cost of funds has clearly risen.

In addition, the reporter found through long-term observation, impulse price of different types of banks are also significant differences. The so-called "four plus nine" banks (four state-owned commercial banks plus nine joint-stock commercial banks) is slightly lower price, city commercial banks is slightly higher than the above, and rural banks and rural credit cooperatives impulse highest price of capital, such banks, some banks are classified as intermediaries so-called "high-risk banks." For brokers for funds on "high-risk areas and high-risk bank" hole in principle is not operating.

For impulse money, time is effective, "seconds" has become insiders "time units" - deposit "second hit" funds "seconds into the second out," but, for the bank's deposits, this just kind of ran a nap in the book capital to meet regulatory requirements in addition to deposit ratio, in fact, it is difficult to add luster to the bank's operating results.

Recently, the China Banking Regulatory Commission Vice Chairman Wang Zhaoxing said, "In recent years, commercial banks balance sheet structure has undergone great changes, financial market has undergone great changes, the structure of the deposit-loan ratio should be advancing with the times adjustment. "he pointed out," With the current deposit ratio by making structural changes in assets and liabilities make appropriate adjustments, such as specifically to support financial bonds issued by small and micro enterprises, we can not enter into the denominator of the ratio of deposits in savings and loan, which The loan can not be included in the molecule, as well as the central bank for small and micro enterprises, rural special loan, the loan is no longer included in the molecule, in addition to some other more stable sources of deposits, in the past may not be calculated In the denominator, we might consider the case appropriately adjusted to maintain the stability of funding loan ratio numerator and denominator of the structure, so that commercial banks more responsive to changes in the current market, adapt to a wide range of changes in the structure of assets and liabilities, and appropriately increase the effective supply of funds and revitalize the stock. specific measures in this regard, we will be announced to the public shortly after. "

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