Treasury bonds "test the waters" mobile banking app for the first time, many banks sold out that day

  Our reporter Li Wen, trainee reporter Yu Junyi

  On May 10, the third and fourth tranches of 2021 savings government bonds (electronic) were officially issued.

What is different from the past is that in addition to bank counters and online banking, this batch of treasury bonds is the first attempt to sell through the mobile banking clients of four banks including Industrial and Commercial Bank of China, Postal Savings Bank of China, China Merchants Bank and Bank of Jiangsu.

  Dong Ximiao, chief researcher of China Merchants Union Finance, said that most of the banking business in my country is currently diverted to electronic channels, among which mobile banking is the main method of off-the-counter transactions.

Savings treasury bonds are very popular in the personal investment and financial management market, especially among middle-aged and elderly investors. The sale of savings treasury bonds (electronic) through mobile banking will greatly facilitate investors' purchase.

  The two treasury bonds are both fixed interest rate and fixed term varieties, with a maximum total issuance of 40 billion yuan.

The term of the third phase is 3 years, the annual coupon rate is 3.8%, and the maximum issuance amount is 20 billion yuan; the term of the fourth phase is 5 years, the annual coupon rate is 3.97%, and the maximum issuance amount is 20 billion yuan.

The issuance period of the two treasury bonds is from May 10, 2021 to May 19, with interest starting from May 10, 2021. Interest is paid annually, and interest is paid on May 10 each year.

The third and fourth installments will repay the principal and pay the last interest on May 10, 2024 and May 10, 2026, respectively.

  In fact, in March this year, the Ministry of Finance and the People’s Bank of China jointly issued a notice on the Pilot Measures for the Sale of Savings Treasury Bonds (Electronic) by Mobile Banking, and stated that members of the Savings Treasury Bond Underwriting Syndicate can apply to the Ministry of Finance and the People’s Bank of China for registration. pilot work.

  According to the notice, members of the savings treasury bond underwriting syndicate participating in the pilot can handle savings treasury bond (electronic) sales, personal bond secondary custody account opening (hereinafter referred to as personal treasury bond account), and custody balance information inquiry services through mobile banking channels. Advances are not allowed. Services such as redemption, pledge loans, non-transaction transfers, and fund clearing account changes.

  In order to experience the purchase of savings treasury bonds with mobile banking, on May 10, the reporter downloaded the apps of three of them.

Take China Merchants Bank as an example. After logging in to its App, the reporter searches for "savings treasury bonds", clicks according to the instructions to enter the saving treasury bonds purchase page, and selects the treasury bonds that are on sale to purchase.

As of 14:00 on the same day, China Merchants Bank's fourth tranche of savings bonds (electronic) e-banking sales has reached 0 yuan.

The reporter then logged into the App of Industrial and Commercial Bank of China and Bank of Jiangsu, and found that their sales were also 0 yuan.

  The reporter learned that the national debt can be redeemed in advance, and can also be used as a pledge to apply for a pledge loan from the original purchasing bank.

However, it is worth noting that although the mobile banking purchase channel has been launched this time, if investors want to redeem in advance, they can only apply through the counters of the business outlets of the underwriting syndicate members, and they must be processed after the issuance period ends.

  The reporter learned from the account manager of a pilot bank that due to the impact of new asset management regulations, the expected rate of return on wealth management products continues to decline.

In addition, since the beginning of this year, the stock market and fund market have been volatile, and the expected yield of savings government bonds is stable and the risk is low. Therefore, they are more popular with bank customers and sold out on the day of issuance.

  Huang Qiubin, a teaching researcher at the School of Economics and Management of the University of Science and Technology Beijing, said in an interview with a reporter from the Securities Daily that the hard and soft conditions for the full implementation of mobile phone sales of national debt have been met.

Selling treasury bonds through mobile banking channels greatly improves the convenience and timeliness, and saves investors the time cost and transportation cost of running the counter.

At the same time, in the first quarter of this year, a number of star funds experienced a sharp retracement, and investors' risk appetite was reduced. There is an urgent need to find other safer investment products. Relatively speaking, the annualized yield of national debt is close to 4%, which is good for most investors Very attractive.

(Securities Daily)