First of all, it is not that banks dare not speak out, but that the state does not allow it.

Because banks are committed to capital-guaranteed financial management and are not afraid of losses. A bank issues hundreds or thousands of capital-guaranteed financial products. As long as most of them make a profit, even if there are a few individual losses, the bank can still use other profits to make up for the losses. ; Moreover, capital-guaranteed financial management can attract investors and expand its scale; in addition, capital-guaranteed financial investment investments themselves are low-risk products with high safety and a very small probability of losses; therefore, it is not that banks dare not promise capital preservation in financial management, but The country does not allow it.

Not allowed by policies and regulations

On April 27, 2018, the People’s Bank of China, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange jointly issued The "Guiding Opinions on Regulating the Asset Management Business of Financial Institutions" was issued. The "Opinions" clearly stipulate that rigid redemption will be broken and banks will not be allowed to issue financial products with guaranteed principal and interest. The transition period will be until 2021 (currently, some banks are still issuing financial products). Capital-guaranteed financial management, these are existing products before the release of the document, there is no need to worry, the bank is not blatantly violating the rules).

PS: Rigid redemption means that if a loss occurs after the financial management expires, the bank will pay the full amount, and the investor will not bear the loss.

So why does the country not allow banks to issue capital-guaranteed financial products? The reason is simple. Since financial investment is about investing in future returns, and the future is uncertain, why does your bank promise zero risk and predict future returns? Unless it is a fixed deposit in a bank.

For a long time, banks' financial products have maintained rigid redemption, which has been considered a stubborn problem that prevents the healthy development of the large asset management market. It is also called one of the biggest obstacles to the development of China's financial industry by the asset management industry. Rigid redemption of asset management products has caused serious problems: First, investors enjoy higher returns without taking on corresponding high risks, thus attracting a large number of investors who have no risk-bearing capacity; second, rigid redemption expectations raise the risk of Risk interest rates and social financing costs. Rigid exchange makes investors excessively pursue high returns, forcing financial institutions to compete with each other to raise returns, distorting market risk pricing, and raising the cost of obtaining funds for the real economy; finally, there is an overall risk to the financial system. Once a default occurs, financial institutions take cover and risks accumulate in the financial system, easily inducing systemic financial risks.

How to respond

Although the state does not allow banks to issue capital-guaranteed financial products, there are policies from above and countermeasures from below. Banks will not sit back and watch the funds originally invested in capital-guaranteed financial products flow out, so they have It advocated the introduction of capital-guaranteed institutional deposits to replace capital-guaranteed financial management.

What is a capital-guaranteed structured deposit? To put it simply, after buying a capital-guaranteed structured deposit, your capital will be divided into two parts: most of it is placed in time deposits for capital protection, and a small part is invested in financial derivatives to earn high returns.

For example:

1. Suppose you purchase a one-year capital-guaranteed structured deposit of 10 million yuan from the bank;

2. Then the bank collects After reaching 10 million yuan, 9.809 million yuan will be put into time deposits. Assuming the interest rate is 1.95%, then the total principal and interest due = principal + interest = 980.9+980.9*1.95% = 10 million yuan; < /p>

3. The remaining 191,000 yuan is invested in high-risk financial derivatives, such as stock indexes, futures, options, etc.

In this way, even if all the investment in financial derivatives is lost after maturity, the total principal and interest of the time deposit after one year will still be 10 million yuan, just enough to protect the capital; if the derivative investment makes money, the income will definitely Higher than just putting in fixed deposits.

This is a capital-guaranteed structured deposit. The advantage of this product is that the principal is risk-free, but the rate of return is floating. The expected high return may not be 100% obtained, depending on the specific conditions of the bank. In terms of investment, this product can replace capital-guaranteed financial management, but it cannot replace the original capital-guaranteed and interest-guaranteed financial management product.

Summary

In fact, the state does not allow the issuance of financial products with guaranteed principal and interest, but banks are still issuing these products, but the product instructions do not state that the principal is guaranteed and interest is guaranteed; The investment products are similar to those in the past, and the risks have not increased. The on-time redemption rate of this type of low-risk financial products can be said to be 99%, and even if an extremely rare accident does happen to you, it will usually only result in a loss of income or a very small amount. Part of the principal will not be lost like P2P.

So, why don’t you dare to deposit money in the bank?