Warehouse receipt refers to the only legal ownership certificate issued by the warehouse company to the depositor or the owner of the goods to record the ownership of the goods in the warehouse. The holder of the warehouse receipt can pick up the goods directly from the warehouse at any time with the warehouse receipt.
It is the internal demand of commercial banks to seek new profit growth points to carry out the pledge loan of futures standard warehouse receipts, and it is the lubricant for the development of futures market. But there are risks. It is necessary to carefully analyze every link of the loan process and formulate countermeasures. (1) It is the internal demand of commercial banks to develop and innovate and seek new profit growth points to carry out standard warehouse receipt pledge loans.
First of all, the standard warehouse receipt pledge loan is conducive to commercial banks to avoid operational risks. The existence of financial risks will promote the development of pledge financing and provide a good opportunity for improving the structure of credit assets.
Secondly, the development of standard warehouse receipt pledge loans is conducive to commercial banks to expand new profit growth points. Facing the challenge of foreign banks with mixed operation background after China's entry into WTO, the banking industry should cooperate with banks in order to win the first opportunity in the competition in the same industry.
In addition, for a long time, about 80% of small and medium-sized enterprises have difficulty in lending and financing because of their small scale and few fixed assets. Exploring warehouse receipt pledge financing business can help small and medium-sized enterprises with products to obtain loans.
(B) The standard warehouse receipt pledge loan is a lubricant for the rapid development of the futures market.
Standard warehouse receipt refers to the physical ownership certificate that can be circulated in the exchange after the format is uniformly formulated by the exchange, registered by the exchange, and the designated delivery warehouse completes the acceptance of the warehousing goods, confirms that it is qualified and issues the warehousing certificate. The Exchange handles the registration, delivery, transaction, pledge and cancellation of standard warehouse receipts through computers. The standard warehouse receipt is in the form of standard warehouse receipt, which is a certificate issued by the exchange to represent the warehousing of goods. When holding a standard warehouse receipt, you can choose one or more delivery warehouses with different grades to pick up the goods. Standard warehouse receipts have the characteristics of good liquidity and high value, and commercial banks have a high enthusiasm for standard warehouse receipts in the futures market.
At present, domestic futures exchanges generally carry out standard warehouse receipt pledge business, which stipulates that members holding standard warehouse receipts or third parties recognized by the exchange can apply for warehouse receipt pledge. The market value of the contract in the latest delivery month is calculated based on the settlement price of the last trading day of the previous month, and the pledge amount does not exceed 80% of its market value. However, this kind of business has certain limitations: releasing the corresponding trading margin in the form of positions can only be used for futures trading, and the corresponding handling fees, delivery payment, creditor's rights and debts can only be settled with monetary funds; The exchange charges the pledge fee according to the half-year loan interest rate of the same period, and the risk is only borne by the exchange, which is relatively simple; The trading position released by warehouse receipt pledge can only be used for futures trading in one exchange and cannot be circulated in the whole futures market; For some hedgers or spot buyers, this limits their ability to further purchase the spot.