First of all, it is clear that commercial banks, insurance companies and fund companies in China are all allowed to go bankrupt. In addition, there are precedents for bank failures. Hainan Development Bank (KLOC-0/998) had to file for bankruptcy because of poor business development.
1. So what will happen to our ordinary depositors' money if the bank goes bankrupt?
The national financial regulatory agency behind the bank is the China Banking Regulatory Commission (CBRC). While drafting the Regulations on the Disposal of Bankruptcy Risks of Commercial Banks, the CBRC is also soliciting opinions from everyone, and drafting the Regulations on Deposit Insurance, which stipulates that if a commercial bank goes bankrupt, the deposits of individual depositors within 500,000 yuan can be paid in full, and the part exceeding 500,000 yuan cannot be guaranteed by the liquidation property of the deposit bank or the assets purchased by bank wealth management products. Besides, the loan you owe to the bank must be paid off.
Therefore, commercial banks will also go bankrupt. However, worrying is actually a bit redundant. After all, unlike American banks, we are not private, and the supervision and guarantee system of domestic financial institutions is relatively perfect. The probability of bank failure is actually very low, so it's not our turn to worry ~
Second, what will happen if the insurance company goes bankrupt?
First of all, like banks, the probability of bankruptcy of insurance companies is very low. Before the CIRC passed the examination and approval of insurance companies, it had a series of system requirements, and the examination and approval was very strict.
Of course, if the insurance company goes bankrupt, the CIRC will force one or more insurance companies to take over, and your policy will still be effective. Therefore, as long as it is a regular insurance company, you can buy it with confidence.
Third, finally, what will happen if the fund company goes bankrupt?
First of all, like banks and insurance companies, the probability of fund companies closing down is also very low. After all, there are CBRC behind banks, CIRC behind insurance companies and CSRC behind fund companies. The CSRC stipulates that all platforms that can sell funds must obtain the fund sales license of the CSRC.
According to the website of the CSRC, there are currently more than 300 institutions with fund sales licenses. In addition to commercial banks, securities companies, futures companies, insurance companies and securities investment consulting institutions, there are about 1 16 independent fund sales institutions.
When investors buy funds from these platforms, the final record will actually be seen on the fund company official website. That is to say, if you buy the fund of E Fund Company in the bank and log in to E Fund Company official website with the same ID card, you will see the detailed information of the fund you subscribed.
Since fund companies are the main body of fund raising, the CSRC requires mandatory custody, that is, investors' money must be placed in banks, not kept by fund companies.
If the fund company is not well managed, the CSRC will not allow the fund company to apply for bankruptcy liquidation before finding a new institution to take over.
Finally, Bian Xiao listed the specific websites of financial regulators in three countries, which you can make good use of:
CBRC: /index.html
China Securities Regulatory Commission: /pub/newsite/
China Insurance Regulatory Commission: /web/site0/
Long press to identify QR code is more exciting.