Income And Risk Analysis Of YEB And Its Impact On Interest Rate Marketization

In May 2013,yu 'e bao was officially released,and yu 'e bao has been developing rapidly since its release,and the attention of yu 'e bao has increased gradually.Yu 'e bao as a financial product with Internet technology combined with an attempt to achieve great success,has opened up a new Internet financial markets,driving the process of marketization of interest rate in our country.After yu 'e bao issued more and more similar products,,the presence of these products have gradually changed our living habits,from our terms of payment to our finance.The existence of yu 'e bao also has a certain impact on the traditional financial industry.Through the analysis of the impact factors of the balance of the balance of profit,we can more clearly analyze the risk of the balance of the treasure,to the balance of customers to provide practical value.This paper mainly analyzes the profit risk of yu 'e bao.Firstly,the qualitative analysis method is used to determine the influence factors of the yield of yu 'e bao.Then compared the difference between quantile regression and least squares estimate,using bayesian quantile regression model to optimize the quantile regression results,explore the yu 'e bao annualized yield,shibor,yields on government bonds,bank financial product yield,the relationship between the money supply.Model fitting results before and after comparison,found that the bayesian quantile regression is more suitable for expressing the yields of yu 'e bao and its influencing factors,the relationship between through multiple iterations,the explanatory variables on balance yield treasure each quantile trend more obvious influence on it.The results of the regression of bayesian data show that the risk of the fluctuation of yu 'e bao is the liquidity risk,the investment risk and the market risk.Meanwhile,yu 'e bao also faces competition.Yu 'e bao can reduce risk by increasing its own capital management,optimizing portfolio ratio,and optimizing portfolio projects.The second part is mainly based on the vector autoregressive model,first through the Granger causality test to find variables,on the basis of the establishment of a good two Hysteresis vector autoregressive model is used to do impulse response and variance decomposition.Through the results of impulse response and variance decomposition,it is found that the balance has a certain influence on the interbank dismantling rate of the measure of financial market interest rate,and the other is not established,indicating that the balance Marketed.Therefore,in order to stabilize the financial market in China,we should strengthen the supervision of the financial products such as YEB and so on,which can promote the financial market in China.