The Research On The Liquidity Risk Analysis And Supervision Of Internet Money Fund

Recent years,the development and innovation of Internet technology has brought tremendous changes to the entire industry.In the financial sector,the combination with the Internet has created the concept of Internet finance.The advent of "Yuebao" in 2013 has become a landmark event in the initial development of China's Internet finance industry.As an important branch of Internet finance,Internet Money Fund has the convenience and high profitability.It has achieved rapid development since its birth and has become an important part of China's financial market.Behind the rapid expansion of the Internet money fund,it is also accompanied by a series of potential risks,of which liquidity risk is a major risk.In the field of money funds,there have been many liquidity crises in the past ten years..As a derivative of the money fund,the Internet money fund is integrated into the elements of the Internet.The potential liquidity crisis is even greater,and risk management and control should be strengthened.Based on the above background,this paper analyzes and summarizes the current status of Internet money funds and liquidity risk supervision.This paper summarizes the factors affecting the liquidity risk of Internet money funds from the micro and macro level.Firstly,this paper selects four representative Internet money fund products to analyze the current situation of liquidity risk and summarize the problems.Secondly,this paper conducts an empirical analysis on the existing problems at the macro level,confirms the seven macroindex indicators as the influencing factors of pre-predicted liquidity risk,and establishes a screening system for the influencing factors of liquidity risk prediction.According to the results of empirical analysis,this paper builds an effective internal management system for liquidity risk according to local conditions and timely adaptation.This paper draws the following conclusions through analysis.Firstly,the fund size changing,operating performance,average remaining maturity and asset allocation can directly reflect the liquidity risk problems of Internet money funds.Secondly,this paper establishes a pre-judgment mechanism of liquidity risk influencing factors with three macro-level indicators as representative factors through multiple regression analysis.Finally,there are major problems in the supervision of Internet money funds in China.Through comparative analysis with the US Monetary Fund,this paper proposes specific measures to prevent liquidity risks and policy recommendations for supervision by relevant departments,which provides reference for the development of Internet money funds.