The last quarter of 20 18 has arrived, and time waits for no one. Here is a special "Interpretation of the New Rules of Minimalist Financial Management"-the limerick part is only 1260 words, brother, let's get on the road!
Let's get this straight. Caesar belongs to Caesar.
Financial management must not be capital preservation, but capital preservation must be deposits.
Creditor's rights and debts arising from the management, use and disposal of different wealth management products by all managers shall not offset each other.
Basis: Article 20 Commercial banks shall follow the principles of market transactions and fair transactions in conducting wealth management business, and shall not transfer benefits between wealth management products, between investors in wealth management products, or between investors in wealth management products and other market entities.
Keywords improper financial management, white gloves,
A lesson from the past, the local demon harms people.
Basis: Article 21 Commercial banks shall not use wealth management funds to conduct improper transactions, profit transfer, insider trading and market manipulation with related parties, including but not limited to investing in false projects of related parties, purchasing listed companies with related parties, and injecting capital into banks.
Product classification is not detailed,
The new rules of asset management were inherited.
The scale of innovation is not easy to control,
Ask only one thing at a time.
Second, management innovation, subversion of leadership thinking
President, you have to think about it,
The threshold of wealth management business is high.
Professional system professionals,
There are eleven systems.
Basis: Article 13 The board of directors and senior management of a commercial bank should fully understand the wealth management business and all kinds of risks it faces, and determine the overall strategy and policies for developing wealth management business according to the bank's business objectives, investment management capabilities, risk management level and other factors, so as to ensure that it has human and material resources such as professionals, business processing systems, accounting systems and management information systems required for wealth management business and risk management.
Article 16 A commercial bank shall, according to the nature and risk characteristics of wealth management business, establish and improve the management system of wealth management business, including product access management, risk management and internal control, personnel management, sales management, investment management, cooperative organization management, product custody, product valuation, accounting and information disclosure.
Valuation is not a controversial issue,
There used to be a central bank and a Ministry of Finance,
There will be a transition period to discuss.
Step by step,
Both the cost and the market price are acceptable.
Basis: Article 19 Commercial banks shall confirm and measure the net value of wealth management products in accordance with the Accounting Standards for Business Enterprises, Guiding Opinions and other provisions on the valuation and accounting of financial instruments.
The key issues are audit, internal audit and external audit.
Add IFRS9, this is really seven inches.
Escaping from the watch is tricky, and trust is flustered.
If we want to achieve it by comparison, there will be nowhere to hide the communication in the future.
Basis: Article 16 The internal audit department of a commercial bank shall conduct an internal audit of wealth management business at least once a year in accordance with the relevant regulations of the State Council Banking Regulatory Authority on internal audit, and submit the audit report to the audit committee and the board of directors. The board of directors shall, in view of the problems found in internal audit, urge the senior management to take corrective measures in time. The internal audit department shall follow up and check the implementation of the rectification measures and submit relevant reports to the board of directors in a timely manner.
Commercial banks shall, in accordance with the relevant provisions of the State Council Banking Regulatory Authority on external audit, entrust external audit institutions to conduct external audit on wealth management business and publicly issued wealth management products at least once a year, and take timely rectification measures in view of the problems found in external audit.
Liquidity risk is the most deadly. How can the regulator not know?
Stress testing and emergency plan should be handled by special personnel.
The number of people, cars and horses has increased, and the cost of bank asset management has risen.
Basis: Article 46 Commercial banks should establish and improve the stress testing system for wealth management products. The stress test of wealth management products shall at least meet the following requirements:
(1) For a single wealth management product, set up a reasonable and prudent stress scenario and regularly review it, fully consider the scale of wealth management products, investment strategies, investor types and other factors, and carefully evaluate the impact of various risks on wealth management products. The data of stress testing should be accurate, reliable and updated in time, and the frequency of stress testing should be adapted to the scale and complexity of wealth management products of commercial banks;
(2) Every publicly issued wealth management product shall be subjected to stress testing at least once every quarter, and the frequency of stress testing shall be increased when the market fluctuates violently;
(3) If possible, the stress test results should be back-tested with reference to external shocks that have affected wealth management products in the past, and the stress test results and back-test results should be recorded in writing;
(4) Stress test results should be fully considered in the process of investment operation and risk management of wealth management products, and adjustments should be made according to the stress test results when necessary;
(5) Formulating an effective emergency plan for wealth management products to ensure that the demand for redemption of wealth management products can be met in an emergency. The stress test results should be fully considered when formulating the emergency plan, including but not limited to various scenarios that trigger the emergency plan, emergency funding sources, emergency procedures and measures, and the authority and responsibility of the board of directors, senior management and relevant departments to implement emergency procedures and measures;
(6) There is a special team responsible for the implementation and evaluation of stress testing, which should be relatively independent of the investment management team.
Still support outsourcing cooperation, and clearly require the list system.
The cooperation of new institutions should be reported, and the management of old institutions should be in place.
Outsourcing is no longer a personal matter, and the approval process is controlled step by step.
The senior management of the Head Office can intervene, approve the list and conduct regular evaluation.
If moral hazard is avoided, outsourcing is still a good business.
I used to be able to take care of myself, but I will ask for instructions in the future.
The difficulty of outsourcing has increased, so go to social security to study.
Article 48 Commercial banks should conduct due diligence on the qualifications, professional service capabilities and risk management level of financial investment cooperation institutions, implement list management, and clearly stipulate the access standards and procedures, responsibilities and obligations, term management, conflict of interest prevention mechanism, information disclosure obligations and withdrawal mechanism of financial investment cooperation institutions. The list of financial and investment cooperation institutions shall be at least approved by the senior management of the Head Office, regularly evaluated and adjusted if necessary. A commercial bank shall clearly define the rights and obligations of both parties and the way of assuming risk responsibilities in writing, earnestly fulfill its investment management responsibilities, and shall not be exempted from its due responsibilities because it entrusts other institutions to invest.
When a commercial bank hires an investment consultant for wealth management products, it shall examine the investment advice of the investment consultant, and shall not directly execute the investment instructions of the investment consultant, nor shall it pay fees to the investment consultant who has not provided substantive services or pay fees that do not match the services provided.
When a commercial bank cooperates with a financial investment cooperation institution for the first time, it shall report the relevant information of the cooperation institution to the banking regulatory institution 10 days in advance.
Third, you don't understand the joys and sorrows of small banks.
Derivatives, foreign exchange and QDII,
The quality of complex products comes first,
The exhibition business of small banks has been blocked again.
Have different qualifications,
Structured deposits are also eligible.
If you are not qualified and are not allowed to do it, can you retail it?
However, when it comes to derivatives, sales immediately drop.
The zero income ten years ago is still unclear.
It's good for small banks not to touch small products.
Basis: Article 11 A commercial bank issuing wealth management products that invest in derivative products shall have the qualification to trade derivative products and abide by the relevant regulations of the State Council Banking Regulatory Authority on the management of derivative products.
Commercial banks engaged in wealth management business involving foreign exchange business shall have corresponding foreign exchange business qualifications and abide by the relevant provisions on foreign exchange management.
Basis: Article 75 Commercial banks issuing structured deposits shall have corresponding derivatives trading qualifications.
Sales channels are still limited, and BATJ does not sell.
Our outlet+electricity sales, other banks can also sell on a commission basis.
Small businesses are not discouraged, and electronic channels have been established.
Whoever has customers is awesome, and the sales rate is casually talked about.
Basis: Article 31 Commercial banks can only sell wealth management products through their own channels (including business outlets and electronic channels), or through other commercial banks, rural cooperative banks, village banks, rural credit cooperatives and other banking financial institutions that absorb public deposits.
Fourth, sales management, low threshold, double recording is the biggest obstacle.
The biggest attraction is here.
The threshold of 1 10,000 is of great significance.
New product: difficult to raise,
Old products: no quota.
Try to reduce it to 10000.
The fourth quarter, on the scale!
Basis: Article 30 A commercial bank shall set an appropriate term and sales starting amount according to the nature and risk characteristics of wealth management products.
When a commercial bank issues corporate wealth management products, the initial sales amount of a single investor shall not be less than 65,438 yuan+0,000 yuan.
Asset management can invest in financial management.
Just penetrate upward.
Draw another financial cake,
Institutional business can still be done.
As long as the continuous performance is good,
And broke into Public Offering of Fund's clients.
Basis: Article 29 Commercial banks shall not sell wealth management products to investors whose risk tolerance level is lower than that of wealth management products by splitting wealth management products.
Where other asset management products are invested in wealth management products of commercial banks, commercial banks shall effectively identify the ultimate investors of asset management products according to the principle of penetration.
In order to prevent hard complaints, every product is recorded all the time.
How long does it take to record and video? Deal in 20 minutes.
The lobby manager is bitter, even if he sells wealth management full-time,
It's only over 20 yuan a day, not to mention the grass-roots downsizing season.
Many tasks are carried by everyone, where can I get a full-time double record?
Basis: Article 32 Where a commercial bank sells wealth management products to non-institutional investors through business premises, it shall implement regional management of wealth management products sales in accordance with the relevant provisions of the the State Council Banking Regulatory Authority, and record and video the sales process of each wealth management product in the sales area.
Classified financial management is prohibited, and income compensation shall not be layered.
Nested trust may be feasible, priority+expected income.
Unless the trust also issues a document, it is not allowed to mention the expected income.
Basis: Article 42 Commercial banks may not issue classified wealth management products.
The term "graded wealth management products" as mentioned in these Measures refers to the wealth management products that commercial banks divide into different grades of shares according to the repayment order of principal and income, and the income distribution of different grades of shares is not calculated according to the proportion of shares, but is otherwise agreed in the contract and distributed according to the priority and inferior share arrangement.
Investment management, protection is not standardized, and private placement is stopped.
You can't invest in wealth management, or even in this bank.
CLO outside the table, this game also failed;
The inferior priority is not good, and other bank assets have to be "prudent".
Basis: Article 36 A commercial bank's wealth management products shall not directly invest in credit assets, directly or indirectly invest in the bank's credit assets, directly or indirectly invest in wealth management products issued by the bank or other banking financial institutions, or directly or indirectly invest in subprime credit asset-backed securities issued by the bank.
Basis: Article 40 Wealth management products of commercial banks shall not directly or indirectly invest in the right to receive (receive) credit assets of the bank, and wealth management products issued to non-institutional investors shall not directly or indirectly invest in the right to receive (receive) non-performing assets.
Commercial banks that invest wealth management products in the income right of credit assets shall carefully evaluate the quality and risk of credit assets, set reasonable prices according to the principle of marketization, and entrust independent third-party institutions such as accounting firms, law firms and rating agencies to issue professional opinions when necessary.
A commercial bank shall timely, accurately and completely disclose the relevant information about the beneficial right of credit assets invested by wealth management products to investors, and timely disclose emergencies that have a significant impact on investors' rights and interests or investment income.
Private equity funds used to be a hot business.
However, the new regulations have not been loosened, and private placement is still not allowed.
There is only one exception, debt-to-equity swap companies.
Basis: Article 36 Financial products issued by commercial banks to non-institutional investors shall not be directly or indirectly invested in non-performing assets or securities backed by non-performing assets, unless otherwise stipulated by the the State Council Banking Regulatory Authority.
The wealth management products of commercial banks shall not directly or indirectly invest in the assets listed in Article 35 of these Measures, except for the products issued or assets managed by institutions that are not established with the permission of financial supervision and regulation departments and do not hold financial licenses, private equity investment funds established by subsidiaries of financial asset investment companies according to law, and the State Council banking supervision and regulation institutions.
There is no strict monitoring on the investment concentration of standard products.
The restriction of double 10 is reasonable, and so is the securities supervision.
The upper limit of a single fund is 30%, which cannot support public offering.
But the last sentence is meaningful, but not when asking for advice:
"Except as otherwise provided by the the State Council Banking Regulatory Authority"
The concentration problem can be discussed, and the key countries will let you do it.
Basis: Article 41 Where a commercial bank's wealth management products directly or indirectly invest in the inter-bank market, the securities exchange market or other securities recognized by the the State Council Banking Regulatory Authority, they shall meet the following requirements:
(1) The market value of a single security held by each publicly-offered wealth management product or a single publicly-offered securities investment fund shall not exceed 65,438+00% of the net asset value of the wealth management product;
(2) The market value of a single securities or a single public securities investment fund held by all public wealth management products of a commercial bank shall not exceed 30% of the market value of the securities or public securities investment fund;
(3) The shares issued by a single listed company held by all wealth management products of a commercial bank shall not exceed 30% of the outstanding shares of the listed company.
Except as otherwise provided by the the State Council Banking Regulatory Authority.
There are doubts at six or three o'clock. I don't know if it's a loophole or
Rigid redemption must be broken, and regulatory determination is greatly reduced.
If it is "recognized" that you just redeemed, the capital will make up the reserve fund.
The question is, how to be sure? Who will check how often?
Basis: Article 69 If a commercial bank conducts wealth management business and is found to have a rigid payment behavior according to the Guiding Opinions, it shall pay back the deposit reserve and deposit insurance premium in full, make full provision for capital, loan loss reserve and other impairment reserves in accordance with the relevant regulations of the State Council Banking Regulatory Authority, and calculate regulatory indicators such as liquidity risk and greater risk exposure.
Expected income can't be said, but historical performance can be mentioned.
New postures, income ranges and performance benchmarks are popular now.
It's all old wine in new bottles. Can you say it or not?
Basis: Article 26 When issuing wealth management products, commercial banks shall not publicize the expected rate of return of wealth management products. In the promotional sales text of wealth management products, only the past average performance and the best and worst performance of this wealth management product or similar wealth management products of the Bank can be published, and investors are reminded in striking words that "the past performance of wealth management products does not represent their future performance, nor does it represent the actual income of wealth management products, so investment should be cautious".
Financial risk is not credit,
Risk control has an investment style.
What is the interpretation of But's "integration into its comprehensive risk management system"?
Financial management is still on the table, and off-balance sheet credit is still acquiescent.
I am happy and worried. Non-standard is a good thing, and the key policies remain unchanged?
Basis: Article 16 A commercial bank shall formulate and implement corresponding risk management policies and procedures according to the risk characteristics of wealth management business, so as to ensure continuous and effective identification, measurement, monitoring and control of various risks of wealth management business, and incorporate the risk management of wealth management business into its comprehensive risk management system. A commercial bank shall establish and improve the internal control system of wealth management business as an integral part of the overall internal control system of the bank in accordance with the relevant provisions of the the State Council Banking Regulatory Authority on internal control.