1, publicly raised funds
All financial assets (FVTPL) measured at fair value and whose changes are included in current profits and losses that fail the SPPI test are included. Under the old standards, financial assets (FVTPL) measured at fair value and whose changes are included in current profits and losses are mainly fund investments (mainly monetary funds) publicly issued in trading books.
Under the new standards, all Public Offering of Fund investments (including money funds and bond funds in trading accounts and bank accounts) will be included in financial assets (FVTPL) measured at fair value and whose changes are included in current profits and losses.
2. Financial products
For financial products with guaranteed capital and guaranteed income, the basic assets meet the characteristics of SPPI and can pass the SPPI test; However, the wealth management products with guaranteed floating income and non-guaranteed wealth management failed the SPPI test.
Accounts receivable investment and available-for-sale financial assets are classified into the old standards, while the guaranteed floating income, non-guaranteed wealth management and wealth management products that meet the requirements of the new asset management regulations (draft for comment) under the new standards will all be classified into financial assets (FVTPL) measured at fair value and whose changes are included in the current profits and losses.
3、ABS
Make a specific judgment based on the characteristics of the purchased graded product share and the contractual cash flow of the basic assets. The above three requirements for judging the contract cash flow of classified products must be met at the same time. It is required that the assets with SPPI characteristics, ABS with charging income right, real estate, etc. in the basic asset pool. As a basic asset, it can't meet the characteristics of SPPI and can't pass the SPPI test.
Second, the share purchased by investors must pass the SPPI test, and the cash flow paid at this level is required to meet the SPPI characteristics, and its risk level is less than or equal to the entire basic asset pool, because for the secondary investors of ABS, they enjoy the residual rights after paying the principal of priority investors.
4. Other non-standard assets (non-standard credit and bills)
According to the contract cash flow of purchased financial products and basic assets, make specific judgments; If a product is graded, it must pass the SPPI test of the graded product.
Under the old standards, accounts receivable investment and available-for-sale financial assets were included. Under the new standards, some ABS (especially ABS sub-files) and non-standard assets will be included in financial assets (FVTPL) measured at fair value and whose changes are included in current profits and losses.
5. Asset management products (excluding ABS) that meet the requirements of the new asset management regulations (draft for comment)
It should be pointed out that according to the requirements of the new asset management regulations (draft for comment), asset management products should be broken and net worth management should be implemented.
Asset management products that meet the requirements of the new asset management regulations cannot promise to repay the principal and interest, and cannot pass the SPPI test. All of them are included in financial assets (FVTPL) measured at fair value through profit or loss. All of them are included in financial assets (FVTPL) measured at fair value through profit or loss.