银行资金入市渠道及监管影响

The Channels of Bank Funds and the Regulatory Impact

作为资管市场上体量最大的资金,虽然股权投资受到严格限制,但在传统信贷萎缩、资产配置荒的背景下,银行理财和自营资金通过种种结构化产品进入二级市场,它们的壮大及随后监管层的整治,会给资产价格带来巨大的扰动。通过建立穿透式监管和MPA机制,201 6年监管层正全面着力推动金融市场去杠杆,由于股权市场已经历过一波剧烈的去杠杆,这些新的监管政策短期对债券市场冲击更大。

As information volume on the market's largest funds,while equity is strictly limited.but under the background of shoitage of bank financing and proprietary funds.bank financing and self-funding is through a variety of structured products into the secondary market,they grown regulators and subsequent remediation will bring great disturbance in asset prices.