Will remain next brand for people on June 20, 2013, deeply bake in a pan is in China the mind of financial trade public figure. Between the bank short-term loan market counts Tian Biao continuously after Gao Zhi, on June 20, capital market almost out of control and stop dish: Interest rate of short-term loan of of the previous night is abrupt mad go up to 13.44% , dish in highest clinch a deal ii want modern dining chairsnterest rate is as high as 30% actually! Be equivalent to one year period loan is 5 times of interest rate more standard. Meanwhile, all sorts of hearsay all over the sky fly, some is state-owned correct an error of artifice of blood of iron of big break a contact be exposinged to the sun, Central Bank... a variety of weird phenomena of the market let people can't help ask a question, bank financing area after all how?
Seasonal working capital demand is critical
The out of control of interest rate of short-term loan of of the previous night lets more people began market of gold of curious home sth used to one's own advantage what to produce after all. "Of interest rate of short-term loan of a person of same business rise backside to be put in numerous reason suddenly, include seasonal circulating fund demand (the maturity of pay taxes, superintendency regulation and product of conduct financial transactions) reach supply face element (exit of blow make a false report brings about capital to flow into a quantity to glide considerably and the corner of bank circulating fund) . " Magendatong Zhu Haibin of Chinese chief economist thinks.
Draw near in last years of a dynasty or reign of lunar end season, the capture that deposit reserve leads is put, share out bonus of the turn over to the higher authorities that finance deposits money, enterprise and bank are assessed in year wait for a variety of element overlay, make financing tight degree aggravate.
And the report that international of grade orgnaization Huiyu issued recently is to point out more, as more than 1.5 trillion yuan of RMBs (245 billion dollar) product of conduct financial transactions expires in succession inside this month, last week interest rate of the short-term loan between the 4 Bank of Chinas that achieve new record will be faced bigger go up pressure.
"On average 20% is enter by buy to the deposit of 30% product of conduct financial transactions, especially guild of medium dimensions silver is immersed in the largest difficult position as the aggravate of fluidity insecurity. Issue new product and undertake from the market between the bank short-term loan is the commonnest, to expire the product undertakes financing. " benefit praise explain.
Nevertheless, domestic economy dathe most popular north face shirtsta owed beautiful to also release pressure to capital market further. This year 1-4 month, foreign currency occupies a paragraph to add 1.5 trillion yuan newly, and foreign currency occupied a paragraph to drop considerably in May reach 66.9 billion yuan; At the same time as be in since this year May exchange rate of bank market RMB and exchange ratspring poole of RMB of off shore market are mutual and adjacent, bring about set take the calm danger that collects difference to cover benefit space cut, market of estate of together with United States anabiosises evidence is clear, your capital of the last ten-day of a month in May begins to withdraw rising market, present aggravate state in the near future. Zhu Haibin thinks, although economic data owes beautiful and inflationary pressure is reduced somewhat, but near future Central Bank won't relax monetary policy.
vancouver to harrison hot springsTo this, magendatong predicts, june liquidity situation will be able to alleviate, but the tough attitude that place of concerned Central Bank still exists to adopt inside the near future creates factitious ground liquidity constrictive bring about interest rate of substantial branch loan to go tall (Shibor interest rate also is climbed considerably litre to 5.4% ) risk, for already lack of power economic activity one disaster after another.
Panicky mood sends a bank to money also does not borrow
"The market had been immersed in panicky condition, rich orgnaization quotes rarely. " the last week short-term loan market since appearance trades circumstance, one trades the personage expresses so.
In recent years, the market between the bank grows quickly, financial orgnaization passes short-term loan of a person of same business to often can obtain a large number of fund quickly from other finance orgnaization with very low cost, repass lever investment and deadline fault match, your these capital can help his gain higher income in other market, it is good to want reasonable arrangement only expire financing plan, those who pass circular move back and forth trade, can realize calm danger to cover take considerable interest to differ. This kind " borrow short fry long " business mode is in a bank in last few years wantonly outspread, once bank fluidity manages a problem, do not lend money, so capital catenary can appear problem. And the market exposed to the sun recently the individual bank that give appears financing is tight, even the hearsay such as break a contact makes other bank terrifying more.
On June 20 that day, state-owned big travel is exposed to the sun to give beak a contract, be confirmed to be not break a contact ever since. This personage signs up for a reporter to express to Beijing business, "Actual it is partial capital catenary very nervous bank looks for us the bank has short-term loan of a person of same business. As a result of them capital catenary is put in particular risk, we did not give them financing short-term loan, and the false appearance that forms so-called beak a contract to the outside " . brass faucet
Qing Ming of Zhao of expert of international finance problem expresses to the reporter, bringing abouthe best spring poolt violent wind of quickness of market money rate to promote more intense cause is the panicky psychology of the market, a lot of orgnaizations one insecurity is not willing to tear open contributive gold, real fund is done not have so nervous. He expresses, the mechanism that our country nonexistent capital pours out of in great quantities, commerce writtens guarantee carry out collects photograph contrast smoother, won't have many capital evacuate so. To recently the tight situation of financing area, what reflected home market actually is immature.
"Qian Huang " draw hearsay of partial bank beak a contract
Actually, exposed to the sun that day on June 20 piece one state-owned before big break a contact, the bank that hearsay weighed one medium-sized dimensions on June 6 appears break a contact, "Door of break a contact of short-term loan capital " actually already adumbrative this " Qian Huang " advent.
On June 6, free modern dining chairsmarket talk says, smooth big bank is right the gold of capital of short-term loan of a person of same business of the bank that start line of business should expire originally, but because money supply is tight, guang Dayin selects beak a contract all right, cause the bank that start line of business one billion two hundred and fifteen million seven hundred and fifty-two thousand one hundred and ninety-two expire capital fails to call in. Qi Qi of area of financing of two big banks is in an emergency, must ask to assist to 4 big. But be in the following day, two have relevant controller to appear personally all right refute a rumor. But the market after half month has event of break a contact again came out to be caused " earth shake " .
On June 20 morning, a Central the most popular norton internet antivirusBank exposes to the sun to be noted to industrial and commercial bank on the market endowment 50 billion yuan, because fluidity insecurity produces a lot of talk such as capital break a contact,reach another state-owned bank, the market between the bank is forced defer receives city half hours, shake whole money market. Although should go to release clear announcement to say namely that evening " never produce event of capital break a contact, finished on time to pay external entirely on June 20, concerned market talk is not belonged to solid " , but subsequently again the hearsay says, this silver-colored profession day not break a contact, but the market between Zhou Siyin travel really defer receives city half hours, and this state-owned bank just is in of the regulation afternoon 4 when receive city 30 minutes did not honor the agreement on time inside time.
As hearsay of bank beak a contract clear, market panic mood alleviates somewhat, fall after a rise of all fronts of price of capital interest rate, among them 1 day period counter-purchased interest rate pelter on June 21 380 base point come 7.9% , achieve since October 2007 the biggest drop. Zhu Haibin suggests, the Central Bank should introduce again as soon as possible go against counter-purchase an operation, in order to pacify the panic of the market between the bank.
Method of blood of Central Bank iron chides a bank
Go a few years, the commercnorth face shirtsial bank has been used to the Central Bank be being aided in the skill photograph when market fund is in short supply. Face however on June 20 the short-term loan market money rate of occur for the first time, central Bank manner is unusually quiet however. Not only did not start go against counter-purchase, short-term fluidity adjusts the tool such as tool SLO, continued to issue bank note of 2 billion yuan of center that day instead, the Central Bank is abrupt " ablactation " your market worries about mood instant to arrive at acme.
Partial market personage the Central Bank insist this kind to unscramble the ultra behavior proper motion before hoping for the Central Bank the orgnaization of a few tall lever is this to bury sheet. Analytic personage expresses, the act of Central Bank near future is right " shadow bank " run rampant further have adjusting control, if financing area faces collapse dish, the Central Bank won't let things drift for certain, because the Central Bank is complete capable, policy tool goes alleviating between the bank the state of market fund insecurity.
The Central Bank is in charge of " financial times " published article of a comment to also confirm this kind to guess recently, chinese currency market appears unlikelily liquidity crisis, individual bank appears financing problem, because these banks are excessive,basically be depend on in short-term loan of the market between the bank short-term fufree norton internet antivirusnd, and put the restriction that borrowed dimensions to exceed superintendency orgnaization. Banking should rely on his force to solve financing problem, is not to count on the Central Bank to provide liquidity.
Give a warning besides too radical to operating a style orgnaization, the Central Bank this second choice is silent still have another deep-seated reason. The State Council last week 3 hold standing conference to say, should hold to firm monetary policy, play is good; Optimize financial natural resources to configure, with good increment, dish put an amount alive, stronger n holds economic transition to upgrade. Public figure of business of commercial firm of a city thinks, "Add loan newly to be in for the most part idling. Increment capital is between the bank, the banwatch case manufacturerk plays fund in oneself. The state of this capital insecurity and Central Bank did not release fluidity to give a bank certain caution effect really, go in the credit that allows a bank to use fund hypostatic economy " . Meng Fanxia of Jin of Yan of reporter of Beijing business newspaper / civil
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