The students upstairs exaggerated the role of Yu 'ebao and the Monetary Fund. As far as money funds and balance treasure are concerned, they just make banks feel shocked and unhappy. The bank deposits are calculated in trillions (ICBC reached 12 trillion in 11 years). How much is your money fund, and the balance treasure is only 1 billion. So the volume is not of the same level.

Banks don't need to borrow money from fund companies.

The yield of money funds is high because the interest rate of agreed deposits in banks is high. The high interest rate of bank agreement deposits is due to the tight liquidity in the last two months of last year. Under the control of the central bank, major financial institutions are structurally short of money, so the overnight dismantling interest rate, repurchase and national debt interest rates have soared. This is the reason for the high yield of the money fund.