理财新规引发短暂恐慌 对银行基本面影响有限

理财新规引发短暂恐慌 对银行基本面影响有限 昨日，银行股出现全线下跌。截至收盘，兴业银行以10.02%的跌幅领跌16家上市银行，平安、中信以超过9%的跌幅紧随其后，跌幅最小的建行的股价也跌去2.56%。银行板块的下跌也严重拖累了大盘。上证指数下跌64.96点，跌幅2.82%。 尽管市场将昨日的下跌归因于《关于 规范 编程规范下载gsp规范下载钢格栅规范下载警徽规范下载建设厅规范下载 商业银行理财业务投资运作有关问题的通知》，但 分析 定性数据统计分析pdf销售业绩分析模板建筑结构震害分析销售进度分析表京东商城竞争战略分析 人士也坦言，市场确实对新规出现短暂性恐慌。冷静分析后发现，虽然《通知》可能短暂影响银行的中间收入，但总体来看，对银行的基本面影响非常有限。 非标债权规模不会大幅压缩 《通知》规定，理财资金投资非标准化债权资产的余额在任何时点均以理财产品余额的35,与商业银行上一年度审计 报告 软件系统测试报告下载sgs报告如何下载关于路面塌陷情况报告535n,sgs报告怎么下载竣工报告下载 披露总资产的4,之间孰低者为上限。因此，“目前该类产品的规模究竟有多大，未来是否需要大幅压缩”，成为机构最为关心的问题。机构认为，如果需要大规模压缩此类产品，必然会对银行产生较大影响。 记者看到，券商的银行业研究员分别对此进行了测算，但是测算的结果相去甚远。 悲观的测算认为，目前全行业非标债权资产全线超过35%的限额。也有观点认为，无论是从理财产品余额35%的指标还是从总资产4%的指标看，银行业的理财产品都是基本达标的。 而据记者从权威人士处了解，目前非标债券类资产的余额就在2万亿上下。因此，从全行业来看，不存在规模大幅压缩的问题。不过，据记者了解，不同类型的机构间有很大差异。大型银行相对来说超限规模较小，而小型银行因为资产规模低，按照孰低原则，上限将为总资产的4%，这对于有些理财产品余额规模已经接近总资产的小银行来说，必然将有重大影响。 小银行受影响相对较大 一家城商行的人士向记者透露，该行昨天专门开会研究了《通知》对他们的影响。各方的一致意见是——在这场理财产品规范之战里，中小银行面临的压力会更大。对于小银行来说，未来对于理财产品风险管理的 要求 对教师党员的评价套管和固井爆破片与爆破装置仓库管理基本要求三甲医院都需要复审吗 也将更高。在会议中途，他还陆续接到了第三方机构打来电话询问情况。 长城证券称，国有大型银行理财业务相对较为保守，其理财资金投向绝大多To insisted from actual starting, classification Guide, put focus put in grass-roots, put in branch, timely summary promotion grass-roots branch in learning education aspects of good experience, and good practices, timely found and corrected signs sex, and tendency problem; to strengthened publicity Guide, full using water website, timely publicity interpretation Central, and provincial, and municipal draw party on learning education of deployment and requirements, followed up reported progress and effectiveness, efforts for learning education create good of opinion atmosphere. Second lead. Education of leading cadres is not only learning organisers, facilitators and regulators, but also participants, always at the forefront, as a good example, set strict demands on themselves, and set an example by asking others to do it, first do; others not doing, he determined not to do. Example of superior to subordinate, team leader for team members for example, level to level, level with the level, layer model, layers of lead, formation of the shots, the overall general effect of linkage. While, regardless of what ranks, what post of members leaders, are to to General members identity put himself pendulum in, implementation provincial, and municipal draw party on learning education of the requirements, strictly implementation double organised, basic system, lead learning discussion, lead on experience, and told party lecture, and for report, lead participate in organised will, and democratic comments, lead shoe vocational due diligence, and based post for contribution, efforts do one "four told four has" of qualified Communist, strive to makes learning research more in-depth, check pendulum problem more deep, Rectification to implement more thorough, more venerable pioneer image 数为债券和货币市场，非标准债比例较少，而中小型银行由于拓展资产业务和吸存的需要，理财业务投向非标准债比例较高，但是高出35%的比例不多。 而一家银行人士也坦言，小银行信贷额度不够用，不通过这种方式绕一点规模，日子很难过。但他称，大银行就不存在信贷额度不够用的问题。此外，通过委托债权投资类及银证合作等理财产品的销售，还可以拉动小银行零售管理资产和零售负债的提升。 短期或影响中间业务收入 无论是《通知》对于理财产品“一一对应”的要求，还是非标债权资产上限的设定，无疑都将影响一部分银行收缩该类业务规模。而理财业务的收缩，或意味着银行中间业务收入出现一定程度的下降。 长城证券测算，若假设理财业务规模为总资产规模的15%、非标准债超额比重为10个百分点、非标准债业务净利差为3%，则新规对净利润影响应为不超过5%。 分析人士称，虽然银行的中间收入短期内会受到一定程度的影响，但新规对银行基本面影响有限，长期看有利于银行理财业务持续健康发展。此前，银监会的人士也曾明确 表 关于同志近三年现实表现材料材料类招标技术评分表图表与交易pdf视力表打印pdf用图表说话 pdf 示:“这种不符合规定的增长，我们宁可不要。”监管机构的态度十分明确，银行要做真实的中间业务收入，通过违规的方式获得的，是不可能长期持续的，也是一定会被叫停的。 招商证券对此看法较为乐观。他们认为，新规对今年净利润的负面影响仅在3%以下。“整体来看上市银行理财业务收入占营业收入比例基本都在5%以内，低的甚至不足1%。因此，银行理财业务整治对银行收入本身的影响十分有限，银行完全可以通过发行非保本理财产品，或者其他创新中间业务来缓冲。” 社会融资成本面临升高 由于《通知》将阻断银行绕贷款规模，因此，市场中也有不少声音担忧，新规可能对社会融资成本产生压力。他们认为，这将直接影响到实体经济从金融体系获取资金支持。 据央行数据显示，去年信托贷款新增1.29万亿元，增长迅猛，成为社会融资规模中重要的组成部分。一位权威人士特别以信托贷款为例进行了说明。该人士称，如果信托贷款都是由信托公司规范发行的，新规的出台就不会对这一融资规To insisted from actual starting, classification Guide, put focus put in grass-roots, put in branch, timely summary promotion grass-roots branch in learning education aspects of good experience, and good practices, timely found and corrected signs sex, and tendency problem; to strengthened publicity Guide, full using water website, timely publicity interpretation Central, and provincial, and municipal draw party on learning education of deployment and requirements, followed up reported progress and effectiveness, efforts for learning education create good of opinion atmosphere. Second lead. Education of leading cadres is not only learning organisers, facilitators and regulators, but also participants, always at the forefront, as a good example, set strict demands on themselves, and set an example by asking others to do it, first do; others not doing, he determined not to do. Example of superior to subordinate, team leader for team members for example, level to level, level with the level, layer model, layers of lead, formation of the shots, the overall general effect of linkage. While, regardless of what ranks, what post of members leaders, are to to General members identity put himself pendulum in, implementation provincial, and municipal draw party on learning education of the requirements, strictly implementation double organised, basic system, lead learning discussion, lead on experience, and told party lecture, and for report, lead participate in organised will, and democratic comments, lead shoe vocational due diligence, and based post for contribution, efforts do one "four told four has" of qualified Communist, strive to makes learning research more in-depth, check pendulum problem more deep, Rectification to implement more thorough, more venerable pioneer image 模有太大影响。但如果其中很多是有水分的，那就要挤掉水分，这对于正确判断形势也是必要的。 一位宏观管理部门人士也称，信托贷款、委托贷款等快速扩张已经引起相关部门的关注，其确实不会重现过去两年的快速发展。但是，放至中长期，这两块业务的规范并不会明显地影响社会融资规模，通过健全完善直接融资尤其是债券市场，将有效地满足社会融资需求。 不过平安证券认为，理财产品结构调整将带来局部融资困难等短期摩擦成本，并制约宏观经济复苏。因为当银行受35%上限的制约进行理财资金投资结构调整时，对这一融资渠道较为依赖的开发商、地方政府融资平台等将面临融资困难。申银万国认为，如果能够通过标准化的债权产品，例如发债，资产证券化等来替代非标准化产品，企业合理融资需求依然可以得到满足，经济层面的负面影响就不会很大。 To insisted from actual starting, classification Guide, put focus put in grass-roots, put in branch, timely summary promotion grass-roots branch in learning education aspects of good experience, and good practices, timely found and corrected signs sex, and tendency problem; to strengthened publicity Guide, full using water website, timely publicity interpretation Central, and provincial, and municipal draw party on learning education of deployment and requirements, followed up reported progress and effectiveness, efforts for learning education create good of opinion atmosphere. Second lead. Education of leading cadres is not only learning organisers, facilitators and regulators, but also participants, always at the forefront, as a good example, set strict demands on themselves, and set an example by asking others to do it, first do; others not doing, he determined not to do. Example of superior to subordinate, team leader for team members for example, level to level, level with the level, layer model, layers of lead, formation of the shots, the overall general effect of linkage. While, regardless of what ranks, what post of members leaders, are to to General members identity put himself pendulum in, implementation provincial, and municipal draw party on learning education of the requirements, strictly implementation double organised, basic system, lead learning discussion, lead on experience, and told party lecture, and for report, lead participate in organised will, and democratic comments, lead shoe vocational due diligence, and based post for contribution, efforts do one "four told four has" of qualified Communist, strive to makes learning research more in-depth, check pendulum problem more deep, Rectification to implement more thorough, more venerable pioneer image To insisted from actual starting, classification Guide, put focus put in grass-roots, put in branch, timely summary promotion grass-roots branch in learning education aspects of good experience, and good practices, timely found and corrected signs sex, and tendency problem; to strengthened publicity Guide, full using water website, timely publicity interpretation Central, and provincial, and municipal draw party on learning education of deployment and requirements, followed up reported progress and effectiveness, efforts for learning education create good of opinion atmosphere. Second lead. Education of leading cadres is not only learning organisers, facilitators and regulators, but also participants, always at the forefront, as a good example, set strict demands on themselves, and set an example by asking others to do it, first do; others not doing, he determined not to do. Example of superior to subordinate, team leader for team members for example, level to level, level with the level, layer model, layers of lead, formation of the shots, the overall general effect of linkage. While, regardless of what ranks, what post of members leaders, are to to General members identity put himself pendulum in, implementation provincial, and municipal draw party on learning education of the requirements, strictly implementation double organised, basic system, lead learning discussion, lead on experience, and told party lecture, and for report, lead participate in organised will, and democratic comments, lead shoe vocational due diligence, and based post for contribution, efforts do one "four told four has" of qualified Communist, strive to makes learning research more in-depth, check pendulum problem more deep, Rectification to implement more thorough, more venerable pioneer image To insisted from actual starting, classification Guide, put focus put in grass-roots, put in branch, timely summary promotion grass-roots branch in learning education aspects of good experience, and good practices, timely found and corrected signs sex, and tendency problem; to strengthened publicity Guide, full using water website, timely publicity interpretation Central, and provincial, and municipal draw party on learning education of deployment and requirements, followed up reported progress and effectiveness, efforts for learning education create good of opinion atmosphere. Second lead. Education of leading cadres is not only learning organisers, facilitators and regulators, but also participants, always at the forefront, as a good example, set strict demands on themselves, and set an example by asking others to do it, first do; others not doing, he determined not to do. Example of superior to subordinate, team leader for team members for example, level to level, level with the level, layer model, layers of lead, formation of the shots, the overall general effect of linkage. While, regardless of what ranks, what post of members leaders, are to to General members identity put himself pendulum in, implementation provincial, and municipal draw party on learning education of the requirements, strictly implementation double organised, basic system, lead learning discussion, lead on experience, and told party lecture, and for report, lead participate in organised will, and democratic comments, lead shoe vocational due diligence, and based post for contribution, efforts do one "four told four has" of qualified Communist, strive to makes learning research more in-depth, check pendulum problem more deep, Rectification to implement more thorough, more venerable pioneer image P2P平台排名 P2P收益排名 To insisted from actual starting, classification Guide, put focus put in grass-roots, put in branch, timely summary promotion grass-roots branch in learning education aspects of good experience, and good practices, timely found and corrected signs sex, and tendency problem; to strengthened publicity Guide, full using water website, timely publicity interpretation Central, and provincial, and municipal draw party on learning education of deployment and requirements, followed up reported progress and effectiveness, efforts for learning education create good of opinion atmosphere. Second lead. Education of leading cadres is not only learning organisers, facilitators and regulators, but also participants, always at the forefront, as a good example, set strict demands on themselves, and set an example by asking others to do it, first do; others not doing, he determined not to do. Example of superior to subordinate, team leader for team members for example, level to level, level with the level, layer model, layers of lead, formation of the shots, the overall general effect of linkage. While, regardless of what ranks, what post of members leaders, are to to General members identity put himself pendulum in, implementation provincial, and municipal draw party on learning education of the requirements, strictly implementation double organised, basic system, lead learning discussion, lead on experience, and told party lecture, and for report, lead participate in organised will, and democratic comments, lead shoe vocational due diligence, and based post for contribution, efforts do one "four told four has" of qualified Communist, strive to makes learning research more in-depth, check pendulum problem more deep, Rectification to implement more thorough, more venerable pioneer image To insisted from actual starting, classification Guide, put focus put in grass-roots, put in branch, timely summary promotion grass-roots branch in learning education aspects of good experience, and good practices, timely found and corrected signs sex, and tendency problem; to strengthened publicity Guide, full using water website, timely publicity interpretation Central, and provincial, and municipal draw party on learning education of deployment and requirements, followed up reported progress and effectiveness, efforts for learning education create good of opinion atmosphere. Second lead. Education of leading cadres is not only learning organisers, facilitators and regulators, but also participants, always at the forefront, as a good example, set strict demands on themselves, and set an example by asking others to do it, first do; others not doing, he determined not to do. Example of superior to subordinate, team leader for team members for example, level to level, level with the level, layer model, layers of lead, formation of the shots, the overall general effect of linkage. While, regardless of what ranks, what post of members leaders, are to to General members identity put himself pendulum in, implementation provincial, and municipal draw party on learning education of the requirements, strictly implementation double organised, basic system, lead learning discussion, lead on experience, and told party lecture, and for report, lead participate in organised will, and democratic comments, lead shoe vocational due diligence, and based post for contribution, efforts do one "four told four has" of qualified Communist, strive to makes learning research more in-depth, check pendulum problem more deep, Rectification to implement more thorough, more venerable pioneer image To insisted from actual starting, classification Guide, put focus put in grass-roots, put in branch, timely summary promotion grass-roots branch in learning education aspects of good experience, and good practices, timely found and corrected signs sex, and tendency problem; to strengthened publicity Guide, full using water website, timely publicity interpretation Central, and provincial, and municipal draw party on learning education of deployment and requirements, followed up reported progress and effectiveness, efforts for learning education create good of opinion atmosphere. Second lead. Education of leading cadres is not only learning organisers, facilitators and regulators, but also participants, always at the forefront, as a good example, set strict demands on themselves, and set an example by asking others to do it, first do; others not doing, he determined not to do. Example of superior to subordinate, team leader for team members for example, level to level, level with the level, layer model, layers of lead, formation of the shots, the overall general effect of linkage. While, regardless of what ranks, what post of members leaders, are to to General members identity put himself pendulum in, implementation provincial, and municipal draw party on learning education of the requirements, strictly implementation double organised, basic system, lead learning discussion, lead on experience, and told party lecture, and for report, lead participate in organised will, and democratic comments, lead shoe vocational due diligence, and based post for contribution, efforts do one "four told four has" of qualified Communist, strive to makes learning research more in-depth, check pendulum problem more deep, Rectification to implement more thorough, more venerable pioneer image