Research On Innovation Strategy Of Bank Structured Deposit Products Under The "new Asset Management Regulations"

Structural deposits have been developed for more than ten years in China.It refers to commercial bank?s deposits which are linked to financial derivatives,whose targets mainly contain interest rates,exchange rates,gold,stocks,etc.Structural deposits simultaneously equipped with some characteristics of fixed-income securities and financial derivatives,which enable investors to obtain higher returns with bearing certain risks.On April 27,2018,the "Guiding Opinions on Regulating Asset Management Business of Financial Institutions"(referred to as "New Regulations for Asset Management")was officially released.The basic requirement of the "new asset management regulations" is to break the rigid redemption of bank wealth management,which means that the guaranteed financial products will gradually withdraw from the market orderly.Guaranteed financial products can guarantee the principal and income,which meet the investment needs of risk averse,and it account for a large proportion of the wealth management business of commercial banks.Since the commercial banks have lost the effective means of saving money,it is necessary for commercial banks to find a new way to attract deposits and release the pressure on the reservoir.Compared with general deposits,structural deposits posses higher returns as well as lower internal risk ratings,which can stimulate the purchase intention of holders who prefer lower risk,and replace the guaranteed financial products,then undertake a part of the wealth management funds.Commercial banks can seize this opportunity to extend structural deposit?s scale so as to guarantee the source of debt financing.Although structural deposits are not new in China,they still have many problems in the development process.Therefore,it is of great significance for us to study how commercial banks solve these problems and how they innovate structural deposits to adapt to new regulatory requirements in the context of the “new regulations on asset management”.This article is divided into four parts.About the first part,it interprets the concept and characteristic of structured deposits as well as the core points of the “new regulations on asset management”,then it analyzes the impact of the “new regulations on the management” of bank wealth and the motivation of this creative product.At the second part,it analyzes the current situation of Chinese structural deposits,and the problems when structured deposits realize innovation.The third part is the introduction of this case.It introduces the development status of M Bank's structural deposit products,including the status of wealth management business,product classification,product transaction structure,business process and business compliance points.Then it introduces the basic elements,income structure,product operation,marketing channels and risk level of M Bank's structural deposit products linked to Chinese crude oil futures.The fourth part is the case analysis.At first,this article makes use of SWOT analysis method to analyze product and put forward marketing optimization strategy.Finally,summarizing the innovation of this productAccording to this article,we can find: First,under the background of “new regulations for asset management,” commercial banks must make innovations in structured deposit products to make them more standardized and reasonable;second,the innovation of structured deposits is not only reflected in its varieties,but also in pricing,marketing channels and business operations systems What?s the innovation of this article is that it study how commercial banks innovate structural deposits under the background of “new regulations on asset management”,since previous essay mainly focused on the development status and risks of structural deposits.In addition,this paper also takes the structural deposit products as an example,and summarizes the innovation of the product,finally puts forward corresponding suggestions for how to develop the structural deposits in China.