Research On The Development Of J Bank Asset Management Business Under The Background Of New Regulations

In recent years,the development of China's asset management business has played an active role in meeting the investment and financing needs of residents and enterprises and improving the social financing structure.The asset management business has developed rapidly,and the regulatory rules have not been able to follow up quickly,leading to various regulatory issues.On November 17,2017,the central bank and the regulatory authorities such as the China Banking Regulatory Commission,the China Securities Regulatory Commission,the China Insurance Regulatory Commission,and the Foreign Exchange Bureau issued the “Guiding Opinions on Regulating Asset Management of Financial Institutions(Draft for Comment)”(hereinafter referred to as the “New Regulations”).On April 27,2017,the new draft of the new regulations was issued: the new regulations standardized the asset management business covering banking wealth management,funds,brokerages,trusts,etc.,and used the management model of public funds to transform bank financial management.To a certain extent,it has subverted the current mainstream operation mode of bank wealth management,which will have a profound impact on bank asset management.J Bank launched its investment and wealth management and asset management business in 2006.It is the first commercial bank in China to start such business.Since its establishment,the scale of J-line asset management business has developed rapidly and the scale of financial management is huge.At present,J Bank's asset-side remaining financing period of one year's assets accounted for 85.91%.The term of the asset-side products is too long;the proportion of non-standard assets at the asset end has been maintained at more than 50%,and the non-standard ratio is too high;the standardized asset investment is concentrated on assets such as private debt,and the product concentration is too high.Therefore,the new regulations for non-standard investment constraints,the definition of product terms,the requirements for product concentration and the specific requirements for multi-level nesting have a profound impact on the asset side.Second,J Bank's debt-to-debt ratio is less than 100%,and debt-side products are shorter;period-type products account for 80%,and closed-end products account for too high;in addition,J-finance products are Expected revenue products,currently not yet issued net worth wealth management products.Therefore,the new regulations have a huge impact on the terminology management of closed products,the net value management of products,the restrictions on investors' thresholds and the redefinition of rigid redemption.Third,the liquidity ratio of J Bank has been in a slow decline,especially at the end of the season,the liquidity ratio is extremely low,and the liquidity management situation is extremely severe.After the new regulations were issued,the difficulty of the liquidity management of J Bank was further aggravated by the joint effect of the new regulations on the asset side and the liability side.Therefore,the landing of the new regulations has a huge impact on both the asset side and the liability side of J Bank and the liquidity management of J Bank.This paper analyzes and introduces the status quo of J Bank's new asset management business,and analyzes the impact of the new regulations on J Bank's asset side,liability side and liquidity management from the perspective of J Bank.Through the above three aspects,we will explore the future development path of J Bank's asset management business: the asset end will be transferred from non-standard to non-standard,the commission will be transferred to the initiative and the team's professional level will be improved;the debt-side innovative product type will standardize the product pricing method;Different types of product design have different liquidity management measures,and finally,on the basis of ensuring safety and liquidity,effectively improve the income of J Bank's asset management products and promote the healthy and rapid development of J Bank's asset management business.