P2P shuffle on the eve of the three front entanglements regulation, innovation, risk


P2P ten regulatory principles

it is difficult to use the outbreak of the year to define the P2P in 2014, regardless of the number of platforms or the size of the transaction, the outbreak of P2P from 2013 until now, seems far from over. According to net loan home data, the number of platforms in 2014 is expected to increase to 1600, the total turnover of about 250 billion yuan, an increase of more than 2013 and 136%, respectively, and 100%.

but it is actually a year forming rules of the game: the establishment of supervision to the CBRC to lead, and draw a "red line" principle; the East venture and loans to help the event to accept judicial examination; third party custody set up "to a pool of funds account system become a widely accepted anti illegal means.

at the business level, P2P gradually in the early small and micro financing, based on the development of large base, docking various types of assets. Bills, factoring, financial leasing assets began to acquire liquidity through the P2P platform, and even with the help of financing and other financing cloak, part of the platform began to transfer the trust benefits to investors in essence. P2P is becoming more and more like the so-called "financial asset trading center," the clever use of various financial institutions.

regulation, innovation and risk, P2P this year is intertwined with each other, the impact of the three fronts. With the platform of a surge in the number of funds increased end was off the high cost of the asset side is hard to find high-quality borrowers, increased significantly at the end of the event run away, the accumulation of payment with unprecedented pressure. Where we are hard to judge P2P’s "saturation point", but the industry is rapidly moving towards.

regulation: Framework initially formed


has long been the focus of attention, P2P has not yet been substantive regulation, only in principle clear direction.

April 2014, P2P countries formally led by the CBRC, the CBRC executives then proposes 4 regulatory red line: clear intermediary nature of the platform; the platform itself is not explicitly guaranteed; shall not engage in capital pool; not illegal deposits from the public.

September, the CBRC ten supervision principle innovation supervision department to further clarify the Wang Yanxiu P2P, in the red line on the basis of the new "implementation of real name system", "set up trade barriers", "funded by the third party custody", "no interest, not self self financing commitment", "to carry out external audit" and "to support small, personal and Small and micro businesses" six requirements.

in the future this will bring two changes in the P2P industry: business to the direction of compliance transformation, return to the intermediary nature, mainly as a guarantee and access to the third party hosting.

as part of the platform Hongling venture, will be gradually replaced as principal guarantee risk reserve compensation, or as Lu Jin, Yixin, the introduction of property insurance companies "performance insurance" for P2P lending credit.

third party hosting is also gradually becoming

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