Commercial banks transfer all kinds of discounted bills to funds and trust intermediaries at agreed interest rates, and trust intermediaries sell them to investors after packaging design.
Investors buy bill financing products, become the clients and beneficiaries of the financing plan, and get corresponding financing income at the same time. Simply put, banks use customers' funds to invest in various bill financing products.
The issuance scale of RMB bill wealth management products is limited by the source of commercial bills. Generally, the scale of each issue is small, and once the products are sold, they will generally be sold out in a short time. Investors should pay close attention to the information of various wealth management products released by banks in order to buy them at the first time. Investors with large funds can open VIP accounts in banks, and banks will generally give priority to meeting the needs of VIP customers.
Compared with other wealth management products, investment bill wealth management products are less risky and have higher returns. The biggest risk faced by investment bill wealth management products is that commercial bills cannot be recovered when they expire. There are three main reasons for this risk: first, the acceptor thinks that the discounted bill is defective and refuses to pay; Second, the discounted bill is a forged or altered bill, and the acceptor will not pay; Third, the acceptor is bankrupt and unable to pay.
Due to the first two reasons, banks will have professionals to check the tickets when they receive them, and the resulting risk is almost zero. As for the risk caused by the third reason, investors should bear the risk of default by the acceptor. However, the term of a commercial bill is generally within six months, and it is unlikely that the acceptor will default in a short time. If the acceptor is a bank, the probability of default is even smaller. Therefore, although banks will indicate that such products are non-guaranteed floating income products when selling RMB bill wealth management products, the actual default risk is very small.
Moreover, the yield of RMB bill wealth management products is much higher than the interest rate of RMB time deposits with the same term. Take the 90-day products recently launched by Bank of Communications (5.5 1, -0.0 1, -0. 18%) as an example, the yield is 2.7%, which is 0.99% higher than that of three-month fixed deposit.