Since the beginning of this year, many banks have adjusted their precious metals, foreign exchange and other businesses-
"speculation in gold" and "speculation in
foreign exchange
" continue to tighten
Our reporter Yao Jin
□ In mature financial markets, institutional investors are mainly involved in financial derivatives investment, which is not suitable for personal investment and financial management.
The price of financial derivatives fluctuates greatly, which requires high levels of professionalism and risk tolerance of investors.
□ For banks, tightening of intermediary business such as foreign exchange and gold will reduce some of the intermediary business income, but this kind of income accounts for a small proportion and will not have an impact on the bank's overall intermediary business.
The trend of banks tightening precious metals and foreign exchange-related businesses continues.
Recently, the Industrial Bank issued another announcement stating that after November 15th, the positions of account precious metals and account foreign exchange customers who have not yet settled their positions will be liquidated and terminated collectively.
According to incomplete statistics, since the beginning of this year, many banks including Industrial and Commercial Bank of China, Bank of China, China Merchants Bank, and Ping An Bank have adjusted their precious metals, foreign exchange and other businesses. The adjustment methods include increasing the number (amount) of precious metals and foreign exchange business transactions. , Lower the single transaction upper limit and single customer holding limit; raise the product risk level and customer risk tolerance assessment results requirements, etc.
Experts believe that banks' tightening of such businesses aims to prevent relevant market risks, and high-risk investments such as foreign exchange products, commodity futures, and financial derivatives are not suitable for ordinary investors.
"Recently, some banks have tightened their precious metals business mainly to prevent potential risks." Zhou Maohua, a macro researcher at the Financial Market Department of Everbright Bank, said that on the one hand, it is to prevent market risks.
At present, the epidemic is still spreading, the global economic recovery is not balanced, the policies of various countries are divided, inflation and the uncertainty of the Fed's policy outlook continue to plague the market, and the fluctuations are sharp.
On the other hand, it is also to guard against institutional market reputation risks.
Some banks make adjustments to related businesses in accordance with changes in the market environment, which will also help reduce potential investment business disputes and market reputation risks.
Regarding the reasons for the tightening of precious metals and foreign exchange business, many banks also mentioned in the announcement that it is to "adapt to changes in the market situation, prevent business risks, and protect investors' rights and interests." They pay attention to market risks and invest cautiously.
"Foreign exchange products, commodity futures, financial derivatives, etc. are investment products with higher risks. In the past, some banks had some shortcomings in investor suitability management, and marketing and publicity did not fully expose investment risks." Dong Ximiao, chief researcher of China Merchants Union Finance Said that looking forward to the future, the exchange rate will show two-way fluctuations, especially the two-way fluctuations of the RMB and the U.S. dollar will become the norm.
Commercial banks' adjustments to business-related policies such as foreign exchange and precious metals and raising transaction thresholds are specific measures to strengthen investor suitability management and are necessary.
In fact, the policy and professionalism of investment and financial management in foreign exchange and precious metals are very strong, and the regulatory attitude is also very clear.
Guo Shuqing, Chairman of the China Banking and Insurance Regulatory Commission, once emphasized that a large number of individual investors participated in the investment in financial derivatives cases where risks occurred in the early stage.
From the perspective of mature financial markets, institutional investors are mainly involved in financial derivatives investment, which is very unsuitable for personal investment and financial management.
The reason is that, affected by a variety of uncontrollable or even unpredictable factors, the price of financial derivatives fluctuates greatly, which places high requirements on the professionalism and risk tolerance of investors.
It is worth mentioning that foreign exchange and precious metal business are one of the sources of bank's intermediate income business. Will the tightening of business have a greater impact on banks and investors?
In this regard, Zhou Maohua believes that the tightening of this type of business by some banks will reduce some of the intermediate business income, but this kind of income accounts for a small proportion and will not affect the bank's overall intermediate business.
Experts said that for investors, if they want to invest in this type of business, it is recommended to go to the relevant futures trading market for investment transactions. However, due to the high leverage of the foreign exchange business and the current changes in the Fed’s interest rate policy, investors are not recommended to do so. Participate more in high-leverage foreign exchange market transactions.