From the specific plan, Huitianfu realized T+0 redemption through bank advance. Huitianfu announced that it will provide loans to investors who redeem the money fund through cooperative banks, and then the money actually redeemed by the money fund will automatically return the loans and pay related fees. Based on this, Huitianfu T+0 has a single redemption limit, with a maximum of 20,000 yuan.
In contrast, southern fund used its own funds to help investors realize T+0 redemption. Relevant persons in southern fund said that the company began to investigate the "T+0 redemption" scheme two years ago, and after repeated argumentation with the regulatory authorities and cooperative banks, it finally came up with a more feasible scheme. Compared with the traditional money fund, T+0 redemption involves many innovations, such as the advance payment of clearing money, the real-time transaction reform of TA system, the quota control of direct selling system, the docking of real-time payment system of banks and so on. According to the source, this business will be launched in the near future, supporting the "T+0 redemption" business of more than 20 national bank cards such as industry, agriculture, China, construction, transportation, recruitment and postal savings.
Relevant people predict that the liberalization of the "T+0 redemption" mechanism of the money fund will make it possible for the money fund to replace demand deposits. Judging from the bank's nearly 40 trillion savings deposits, this move may incite the growth space of the trillion-scale money fund. With the launch of transactional monetary fund and the promotion of T+0 redemption of monetary fund, the monetary fund with a current scale of about 400 billion yuan will usher in a blowout development.