Invisible "security interest" broken wings torture of bank credit risk products

In early due to hold a Miss Liu CITIC Trust Bank loan products, "winning" the year of maturity yield 4.66 percent and 4.92 percent (subscription 500,000 and above), and not at the time of purchase Is expected to yield 4.85 percent and 5.11 percent (subscription 500,000 and above). "We have developed a floating rate cut after the terms of income, meaning that investors will return as the central bank's benchmark lending rate fluctuations and changes.

"Credit product yield to maturity of the discount!"

In early due to hold a Miss Liu CITIC Trust Bank loan products, "winning" the year of maturity yield 4.66 percent and 4.92 percent (subscription 500,000 and above), and not at the time of the purchase is expected to yield 4.85% and 5.11% (subscription 500,000 and above). At this point, have previously been "invisible" security interest of the security wings of the card products turning point.

The popular these days, "security interest" selling point

Credit products relative to the instrument, currency or bond-type sound-yield products are more obvious advantages, and as a result of corporate loans or relevant government departments or large-scale enterprise security, or belonging to the bank's asset quality. Although the credit insurance products are non-floating of the proceeds of a class, but the industry has long been regarded as its "capital preservation security interest" products, it is relative to the structural factor of safety products to more than one.

Xinancaitai trust and financial management of the Institute of relevant data show that each year to commercial banks to issue credit products issued by as much as 65% of the total, even if there were among the products on the credit impact of the implementation of monetary policy, which may well be Stop the speculation, but it does not stop the momentum of rapid distribution and investors sought after.

However, in September and into October, the two have been cut directly to suppress the yield of such products, combined with the financial turmoil on corporate credit invisible derogatory, credit products of a gradual slowdown issue. Reporters learned that this type of product to cut interest rates twice in the following general decline in the average income than the interest rate adjustment before the earnings decline in more than 0.2 percentage points. For example, China Merchants Bank was issued a "move into the silver treasure" of credit assets, 546 on a product for the 3.6 percent rate of return, not to issue a month ago, but the 515 gives 4.00 percent of annual revenue Rate.

Income discount the risk of hidden tips

"There is no denying that the other banks of similar products that may have occurred previously in similar circumstances, but the terms of the potential risks investors have not been found, even the bank itself did not pay special attention to." Xinancaida trust and financial management study The researcher Yang Chao said.

Reporters look at the detail of the CITIC Bank, China Merchants Bank and Bank of Beijing, and other similar products in the three banks of the statement, they found that the risk related to the true extent of the tips are not the same. CITIC Bank for the yield to maturity may be lower than expected did not separate, but earnings estimates mentioned in the "investment products if the borrower's credit assets were not appointed time and manner (including but not limited to the repayment in advance or delay payment The situation) to repay the loan principal, interest and penalty interest (if any) and so on, product-year yield may be lower than expected "; and the Bank will move out one by one risk, although the rate of change in the product yield no clear impact, But for the early termination in accordance with the rate of return is still expected to yield calculation. The Bank of Beijing is that: "Interest Rate Risk: The customer may be lower than earnings to fixed deposits or other use of funds arising from the proceeds." Tips slightly less risk.

In addition, since the previous market-to-business credit risk to enhance the sense of crisis, this type of product in the October issue has been more restricted. It was from the China Construction Bank, ICBC and China Merchants Bank to open a few statistics show that in October the issue of credit products shrink the size of nearly half. In addition to the rate of return investors concerned about risk, we must also beware of its credit risk, the trust plans to pay close attention to the quality of corporate borrowing and repayment ability.

Contemplating changes to make a living out of the road

Due to the frequent moves the central bank, cut open the channels so that a number of high-end customers are also aimed at higher income credit products, can be seen in the market or banks in the near future for one of the major share.

"We have developed a floating rate cut after the terms of income, meaning that investors will return as the central bank's benchmark lending rate fluctuations and changes." Hangzhou branch of China Merchants Bank gold sunflower financial management, Senior Manager Wang told reporters. At present, the market appears to cut interest rates to deal with the two mainstream methods for the early termination of the issued and new product design floating provisions. If the borrower companies and banks that entered into floating-rate terms, so investors get due returns is bound to be adjusted; if it is fixed-rate terms of corporate borrowers to repay ahead of schedule, even if investors will not have an impact on earnings due .

At present, only the ICBC and China Merchants Bank for such products made floating provisions of the proceeds of the design of adjustment is expected in the near future will see other commercial banks to deal with changing innovations.