Why Should Online Banking Restrict T+0 Operation?

The so-called "T+0" is a common system of securities trading. Specifically, to the IMF, it refers to a transaction system that handles liquidation and settlement procedures on the day of the transaction, which is called the T+0 transaction. Popularly speaking, the money fund bought on that day can be sold (Redemption) on the same day. The T+0 of the IMF has been launched for a long time, but it has not been publicized and promoted on a large scale, but it is well known to users because of Internet finance.

　　 Why Huaxia Monetary Fund To suspend T+0 operation?

In fact, the "T+0" has always been just a mutually beneficial network financial product to increase its attractiveness and enhance user experience. Under the current capital flow mechanism, the monetary fund itself must be T+1 liquidation. Therefore, the fund company has been under the pressure of underwriting. Especially with the expansion of the market scale of monetary fund products, the bank credit limit of the fund company is almost exhausted at the end of the month and the end of the quarter, and the pressure of capital mobility increases.

2. In recent years, "baby" as a whole Rate of return At the end of the month and the end of the quarter, banks were holding high interest rates at the end of the month and the end of the quarter. The earnings of financial products continued to climb. The users of the IMF wanted to redeem their funds for higher returns, and the redemption scale of the IMF was also growing.

(3) the recent tightening of Internet financial regulation policy. Once the regulation is strengthened, the amount of money that customers want to transfer to the balance of treasure products and the amount of funds purchased may be affected. The number of people who purchase will be reduced, and the amount of redemption will increase.

　　 What is the impact on ordinary users?

There is no doubt that suspending T+0 first reduces the experience of the existing users, and directly affects the liquidity of users. According to statistics, most of the money managers participating in monetary fund are grass-roots office workers. It is foreseen that their idle stock of funds is not large, and some even face the pressure of credit card repayment. T+1 or T+2 directly hinders the liquidity of financial users.

Second, it will reduce the attraction of Internet monetary fund products to new users. The biggest advantage of the Internet monetary fund financial products represented by balance treasure and CAITONG is its lower participation threshold, higher expected revenue and T+0 flexible redemption mechanism.

But at present, the market trend is that the profits of Dabao have fallen below 6 (some have even fallen below 4), and have little competitiveness in revenue. If the redemption mechanism can no longer highlight the advantages, the attractiveness of new users will decline. In particular, at this stage, when the proceeds of bank financial products are rising, some customers will gradually shift to other financial channels.

　　 Internet gold Finance industry What's the impact?

The "baby" corps, represented by the balance treasure, has been developing rapidly for more than half a year. It is inevitable that the growth rate will be slowed down under the situation of "days, time and place". In fact, I have been saying to my colleagues, "balance treasure" should be read as "balance treasure", and the balance is a treasure here. The value of the living expenses transferred by people to the bank card every month is highlighted.

The biggest contribution of the balance Bao is not to let ordinary people fight against the cock wire, but to awaken the people's sense of financial management. Even if the balance of treasure is to withdraw from the stage of history, its chapter must also be thick and colorful.