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Original Title: Top 10 Platforms Eliminate Internet Deposits and Many Parties Expect “Classified and Hierarchical” Management
Recently, after Sun Tianqi, director of the Central Bank’s Financial Stability Office, issued two notices, several leading platforms were urgently disconnected overnight for deposit products on once-thriving third-party internet platforms. .
At the time of publishing, at least including Alipay, Licaitong,JingdongTen platforms such as Finance, Lufax and 360 You Wealth have offline deposit products and expressed that they will pay close attention and seriously implement the relevant regulatory policies and guidelines.
Since the regulatory authorities have not yet issued official documents on business related to deposits on Internet platforms, while many Internet platforms have suspended incremental business, it is still worth further discussing issues such as the limits of their cooperation with banking institutions. This will also facilitate a comprehensive assessment of future Internet platforms prior to innovative behaviors and avoid potential hidden risks in advance.
What risks are derived?
For depositors, even though they have more options and opportunities for higher returns on deposit products offered by many internet platforms, they should pay attention to the risks that arise from this.
In the opinion of a local Banking and Insurance Regulatory Office, the disadvantages of this model are at least four aspects: first, entering the bank through a third-party platform, increasing the possibility of customer information being leaked; second, the bank needs to pay the platform. “Diversion fees” increase the cost of deposits; third, the structure of bank deposits has changed, as customers of the online platform are more sensitive to interest rates; once the interest rate falls, a large amount of deposits will easily move, generating risk for small and medium banks; fourth, local banks will approve The platform absorbs reserves from all over the country and deviates from the local market positioning to serve the local market.
Sun Tianqi also mentioned in related articles that in various executions this year, online executions accounted for 80%. “With the rapid growth of platform deposits, traditional liquidity risk emergency response methods are insufficient to effectively respond to Internet platform deposits in a timely manner. It is difficult to get an early warning of liquidity risks by relying on existing methods. “
“Individual city commercial banks, rural commercial banks and even village banks have used the Internet platform to absorb reserves and break geographical restrictions to achieve national exposures, but once a risk occurs, regional risk will increase. above across the country and the negative impact will be even greater. ” A researcher from the banking industry said.
Sun Tianqi also noted that the size of small and medium-sized banks, especially high-risk banks, has exceeded their risk management capabilities through the Internet platform to absorb deposits, and cross-regional attributes have increased the side effects of the risk and have made disposal difficult.
“If the management is not done well, it can also create opportunities for some illegal platforms to request deposits illegally on behalf of banks, and even lead to cases of illegal fundraising; and Internet platforms are mostly remote transactions in different places, and the authentication of the real name of the depositors often flows. It is easy to create loopholes for money laundering offenses. ” The aforementioned local Banking and Insurance Regulatory Office also said.
Where is the border?
“Personally, I think the Internet platform led by Ant Group will be ‘one size fits all’ for its incremental business. It has overreacted. After all, official policy documents have yet to be issued. Only central bank leaders have expressed some opinions on related issues. ” The platform compliance person told the 21st Century Business Herald reporter.
In fact, when Sun Tianqi spoke about the idea of managing deposits on the internet platform, he did not say that it would be “one size fits all”, but rather needed to do in-depth research on this new business model and improve the rules and systems. For example, clarify the qualifications and standards of banking access; investigate and enact laws and regulations relevant to the deposit-taking behavior of high-risk banks; strictly regulate various behaviors related to financial products and services on digital platforms such as the Internet and APP.
“It is necessary to balance the relationship between Internet financial supervision and financial technology innovation, tolerate reasonable innovation, lower barriers to market entry, promote full and effective market competition, and provide more convenient, high-quality financial services and safe, “Sun Tianqi said.
This means that for banks, large state banks with national licenses should not be included in the scope of the restrictions, while rural commercial banks, rural banks and some city commercial banks should be prohibited; the storage methods of high-risk banks, interest rates, etc. Some restrictions can be added; Internet platforms must be licensed to engage in related businesses and regulate specific behaviors.
It is worth noting that private banks represent a large proportion of banks that cooperate with third-party Internet platforms. A private banker told the 21st Century Business Herald reporter that, subject to the “one line per line” regulatory policy, private banks rely primarily on online channels for customer acquisition and business expansion. “If there are restrictions that are too strict for the private banking business, it will put more pressure on the survival and operation of private banks.”
According to a person close to the supervision, private banks have their own peculiarities compared to commercial banks in the city, and relatively flexible restrictions can be imposed on related business management.
The 21st Century Business Herald reporter noted that not only depository products, but also some Internet platforms have recently converged in promoting the wealth management products of wealth management subsidiaries. “For some users, the difference between wealth management and deposit products is still very vague, and regulatory authorities also have expectations that sales management measures for wealth management products will be issued soon,” said one person. compliance on the aforementioned Internet platform.
“The premise of innovation is based on understanding the essence of regulation, and it cannot be carried out without complete ignorance of the understanding of regulatory standards. I think the business I do is different from the existing requirements is innovation. Only under this premise, innovation and regulation To advance in parallel and dynamically “, said an industry expert when talking about the balance between regulation and innovation.
(Author: Lee would like to edit: Zeng Fang)
