From the perspective of deposit classification, the reduction of personal time deposits in banks is the main reason. At the end of June 20 17, the balance of time deposits and other deposits of financial institutions was 39.5 1 trillion yuan, while at the end of the first quarter of 20 17, the balance of such deposits was 39.55 trillion yuan, a decrease of more than 40 billion yuan.
Although in the second quarter of 2065.438+07, the personal demand deposits of banks increased by more than 654.38+00 billion yuan, it obviously could not make up for the decrease in the scale of time deposits and other deposits.
According to the preliminary statistics released by the People's Bank of China, the reporter of China Fund News found that since 20 15, the personal deposit balance of financial institutions in China has only declined twice in a single quarter, and both occurred in the second quarter.
Obviously, the decrease in personal bank deposits in the second quarter of 20 15 was mainly due to the skyrocketing A-share market, which led to the flow of personal bank funds to the stock market. A-shares soared from more than 3,740 points at the end of March, 2065,438+07 to the highest point of 565,438+078 points in mid-June, soaring by more than 38%, and the share prices of small and medium-sized stocks doubled in a large area.
At that time, there were three main channels for personal funds of banks to go to the stock market. One is the stock trading of individual customers of banks, which directly transfers from bank deposits to the stock market.
The second is to enter the stock market through Public Offering of Fund, private equity funds or bank wealth management products. In the second quarter of 2065438+2005, large-scale subscription by retail investors gave birth to tens of billions of funds. At that time, the fund's highest public offering amount was close to 29 billion yuan, and only the newly developed fund's public offering amount reached100 billion yuan.
The third is to enter the stock market through innovation, and the risk appetite of new funds is low. At that time, the rate of return of innovation obviously exceeded the rate of return of bank time deposits and wealth management products, thus attracting a large number of bank deposits to enter new markets.
Then in the second quarter, money funds such as Yu 'ebao can attract personal deposits from banks.
According to the scale data of Yu 'ebao, at the end of the first quarter of 20 1. 14 trillion yuan, the product scale increased to 1.43 trillion yuan by the end of the second quarter, an increase of more than 290 billion yuan in just one quarter, and almost all of them came from individual investors.
Judging from Yu 'ebao's rate of return, the lowest annualized rate of return on the 7th day in September of 20 16 was less than 2.3%, and it rose to over 4% in June of 20 17, and the highest annualized rate of return on the 7th day in early July reached 4. 178%.
Judging from the monetary funds other than Yu 'ebao, the scale of these monetary funds increased by nearly 800 billion yuan in the second quarter of 20 17. According to the previous investor structure, there is probably one individual investor, which is equivalent to attracting about 400 billion personal funds to invest in money fund products.
In fact, in addition to money funds such as Yu 'ebao, there are other financial management methods in the financial market that are attracting the participation of bank personal funds, such as overseas investment, internet financial products, insurance financial management and many other aspects.
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