Study On The Housing Provident Fund Loan Strategy For The Voluntary Depositors

With the rapidly development of China's economy and real estate market,while the Housing Provident Fund plays an important role,it faces greater pressure on capital supply.In this regard,Housing Provident Fund management centers have supplemented liquidity through discount loans.Simultaneously,establish a voluntary Housing Provident Fund and incorporate flexible employment into the voluntary Housing Provident Fund have become the reform direction and development trend of the China's Housing Provident Fund.But the voluntary depositors have an obvious motivation to get a loan,and they are likely to stop depositing the Housing Provident Fund after obtaining the loan.Therefore,it is very important to design a loan policy to restrict and motivate the behavior of the voluntary depositors.Based on the above analysis,firstly,this paper briefly reviews the concepts and characteristics of the traditional China's Housing Provident Fund,and then analyzes the characteristics of the voluntary depositors,the connotation and characteristics of the the voluntary Housing Provident Fund.Secondly,this paper analyzes the cost and benefit of the Housing Provident Fund management center in the deposit and loan business by establishing a mathematical model,and builts a fund break-even model for the Housing Provident Fund Management Center to analyze the best loan-to-deposit ratio and maximum loan amount for the voluntary depositors.Finally,this paper analyzes the opportunity cost and benefits of the voluntary depositors during the repayment period by establishing a model.And in the case of guaranteeing that the income of the voluntary depositors is not lower than the opportunity cost,this paper proposes a subsidy compensation strategy for the Housing Provident Fund management center.Based on the above theoretical analysis and model derivation,the MATLAB software is used to verify the propositions of this paper.The results of this study shows that: Firstly,when the Housing Provident Fund management center designs a loan policy for the voluntary depositors,it should develop a differentiated loan-to-deposit ratios and maximum loan amount which according to the actual deposit situation of the voluntary depositors and market-related interest rates.And give a higher loan amount to the voluntary depositors who deposit Housing Provident Fund with longer period or greater amount.And when the interest rate of commercial loan increases or the interest rate of the Housing Provident Fund loan decreases,the Housing Provident Fund management center should lower the maximum loan amount for all lenders.And when the Housing Provident Fund management center formulates a discount loan compensation strategy,it can formulate a different compensation strategy based on the actual deposit situation of the voluntary depositors,personal loan data and the relevant interest rate.In particular,firstly,the Housing Provident Fund management center should provide a higher compensation coefficient for the voluntary depositors with larger contributions per period.Secondly,the Housing Provident Fund management center should reduce the discount compensation coefficient for the lenders who get a greater loan amount or a shorter loan period.Thirdly,the Housing Provident Fund management center should increase the discount rate compensation for all lenders when the interest rate of opportunity investment increases or the interest rate of commercial bank loan decreases.