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What are the reasons for the introduction of the new asset management regulations?

It has been one year since the introduction of the new regulations on asset management. For the large market, it means that the uncertain factors are gradually eliminated, and the improvement of confidence in the market is a very significant benefit. These are a great improvement for the capital side of the market and conducive to the gradual rebound of the market; In addition, the RMB exchange rate also rebounded today, which is also a benefit, so the A-share market is likely to rise sharply in the afternoon. I have summarized the reasons for the introduction of the new asset management regulations.

The people's Bank of China and other departments are guiding financial institutions to implement the "new asset management regulations" with a clearer baton.

On July 20, 2018, in order to guide financial institutions to better implement the 'new regulations on asset management' and ensure the smooth transition of standardizing asset management business, the people's Bank of China, together with the CBRC and the CSRC, formulated the notice on further clarifying the matters related to the guiding opinions on Standardizing asset management business of financial institutions (hereinafter referred to as the notice), The specific operational issues during the transition period were clarified.

In response to this new notice, the editor of Shanghai Securities Daily reminds you of several key points:

01. The notice is not to modify the new regulations on asset management, nor is it a breakthrough in the new regulations on asset management!

02. The notice is not to release water, but to clarify some vague understanding in the implementation of the new asset management regulations. Explain and explain in detail the specific details of financial institutions that have doubts or are not in place.

03. Create a favorable environment for the issuance of new products, clarify the investment scope of old products, ensure the smooth issuance of products during the transition between the old and the new, and increase the financing sources of the real economy.

04. Clarify the valuation methods of relevant products, guide funds to invest in medium and long-term corporate bonds, and promote the stability of bond market and stock market.

05. Clarify the macro prudential policies and capital support measures for the return of off balance sheet assets.

06. No periodic pressure drop requirements are required. Financial institutions made independent and orderly rectification.

07. For old products that meet certain conditions, new assets can be invested under the condition that the original scale remains unchanged.