《资管新规》过渡期延长的影响与应对建议

Impact of Extension of Asset Management Guidelines Transition Period and Countermeasures

《资管新规》推行两年多来,在降低系统性风险、理财产品净值化转型、打击监管套利资金空转等方面取得明显效果。受疫情冲击与转型进度偏慢等因素影响,过渡期虽将延期一年,但金融机构整改转型压力仍大。该文对《资管新规》推出的背景和阶段性成果进行了回顾总结,分析了过渡期延长的合理性与潜在影响,以银行为例提出了可行的应对建议。

The Guidelines on Standardizing Asset Management Businesses of Financial Institutions(hereinafter referred to as the Guidelines) was implemented more than two years ago and has achieved significant results in reducing systemic risks,transforming financial products into net value-based ones,and combating regulatory arbitrage.Affected by factors such as the impact of the COVID-19 pandemic and the slower-than-expected transition progress,the pressure of rectification and transformation on financial institutions remains high even with the 1-year extension of the transition period.This article reviews and summarizes the launching background of the Guidelines and its phased results,analyzes the rationality and potential impact of the transition period extension,and puts forward feasible countermeasures taking banks as an example.