What is the decline in the income of Yu' ebao?
Financial experts said that as a monetary fund, Yu 'ebao mainly invests in low-risk products such as bank agreement deposits, and the income of bank agreement deposits is directly related to Yu 'ebao's own income. After the targeted reduction of the deposit reserve ratio on July 4, the central bank released 700 billion yuan of liquidity to the market, which eased the financial pressure of banks to some extent. With the increase of banks' own funds, the demand for interbank deposits decreases, so the income of interbank deposits decreases.
It is worth mentioning that since the targeted reduction of the deposit reserve ratio was announced on June 24, Yu 'ebao's income has dropped significantly, and after the RRR cut was officially implemented on July 4, Yu 'ebao's income dropped even more obviously.
Moreover, since the beginning of this year, major banks have raised deposit interest rates. Many banks have large deposits with a maturity of more than three years, and the income is significantly higher than that of Yu 'ebao. Many users take out Yu 'ebao's money and deposit it in the bank, further reducing the bank's dependence on interbank deposits. In addition, the fierce competition in the monetary fund industry gives banks more choices and stronger negotiation ability, thus obtaining interbank agreement deposits at a lower cost, which will also lead to a decrease in the investment income of Yu 'ebao.
Reasons for the decline in the income of 20 18 Yu' ebao
Yu 'ebao is a balance appreciation service and current fund management service product under Ant Financial, which was launched on June 20 13. Yu 'ebao is connected with Yu 'ebao Monetary Fund under Tian Hong. In addition to the financial management function, Yu 'ebao can also be directly used for shopping, transfer, payment, repayment and other consumer payments. It is a cash management tool in the era of mobile Internet. The reasons for the decline in Yu 'ebao's income are as follows:
First, the overall environment of the Monetary Fund. After July, the new IMF rules began to be fully implemented. The new regulations stipulate that the monetary fund for T+0 redemption is limited to 1 10,000 copies, and only commercial banks that have obtained the fund sales qualification can provide advance funds for the "T+0 redemption and cash withdrawal" business. These regulations have had a certain impact on the rate of return of the money fund. In addition, banks reduce RRR and interest rates, which leads to a decrease in market demand for funds, and also affects the yield of money funds to some extent.
Second, the safety of Yu 'ebao. In addition, the money fund has the characteristics of low risk and high security, and mainly invests in some short-term monetary instruments with high security, while high returns are always accompanied by high risks, which determines that the yield of the money fund will not be very high. Therefore, as a money fund, Yu 'ebao's yield will not be much higher. Moreover, the balance treasure is very large. For security reasons, the rate of return will certainly remain within a reasonable and stable range, but it will not be too high.