People's Daily: the balance of treasure were in fact promoted the deposit interest rate market

Recently about whether to cancel the balance of the treasure of very lively debate . Monetary Fund to absorb the balance of Po and other funds through the Internet , and then deposit agreement in the form of funds into the bank to make small amounts of money to get more than 6% annual yield , sought after by a lot of small investors . However, it was pointed out that the balance of treasure they raise the cost of the final loan customers , and this cost will eventually be passed on to businesses and each person ; Balance treasure who is lying on the bank who 's "Dracula " and " financial parasites " operational risks will be awarded without profits .

    The question seems to be some truth , but we should also see the emergence of the balance of their treasure , and promote the reform of the financial system and the traditional model , in fact, contributed to the deposit interest rate market . In addition, polymerization public funds via the Internet , provide a relatively simple and reliable investment platform for small and medium investors to better safeguard the interests of small investors , to better promote the optimal allocation of funds.

    In fact , the balance appears treasure financing costs will not necessarily raise the real economy . Cost of the loan depends on the supply and demand situation in the capital market , rather than financing costs. The balance of the funds to absorb their treasure back to the banking system, basically , in essence, did not reduce the bank deposits. Under the supply of funds given circumstances, the strong market demand for funds lending rate higher ; conversely lower interest rates . If the funds in the market demand, interest rates down, the balance of treasure their income will drop . In other words, the balance of market interest rates pushed up the treasure gains , rather than the balance of treasure raise market interest rates.

    Admittedly, the market cost of funds and bank deposit rates rise , it will certainly increase the difficulty and risk in banking operations , but it is the responsibility of the banks themselves and regulators. Banking is essentially risk management , risk pricing industry, which includes both the risk of pricing to customers , but also reasonably priced for their own cost of funds .

    Of course, we can not balance their treasure without vigilance. In recent years the Internet giant step up the layout of the mobile payment system in the channel formed a huge advantage. They will not abuse their channel advantage and good credit ? If the balance of treasure were polymerized excess funds have too much bargaining power , some cash-strapped banks may lose the ability to rational pricing . Once part of the Internet -financial enterprises abuse of market dominance , the risk of the banking system will suddenly increase . In addition, some money will increase the fund size is too large redemption risk. Once investors scramble to redeem , the Internet itself will be unable to cope with financial firms .

    Internet banking finance as " showstopper " appears not terrible, it will promote the banking sector reform and transformation. But beware of the problem of how some companies abuse of market dominance , the formation of the pattern relative monopoly , one can not help thinking also .