In printing money? Secret Central Bank released "7 trillion" truth
this weekend, a message circulating on the Internet known as bomb-grade. On October 10, the Yonge Mama low-key release of the information, because of their imagination is huge, can release more energy than a nuclear bomb but also strong, so that market participants exclaimed: "forget about rate cuts, banks have pulled out the heaven sword and Dragon Sabre sword! "," The Central Bank release 7 trillion, Chinese-style quantitative easing coming! "
the number 7 trillion people
naturally think of 08 years of the 4 trillion stimulus package. The scheme so far has had a deep impact.
central water naturally first of all good stock and property markets. Market also meet today, Shanghai composite index peaked at 4.25%.
but we see that with regard to this policy, many public interpretation, was heading the party style, exaggerated, sensational. What are the real signal of this policy?
ju of Central Bank measures first, said: people's Bank in the early Shandong, Guangdong pledged loans of credit assets formation can duplicate the experience of pilot based on the decision in Shanghai, Tianjin, Liaoning, Jiangsu, Hubei, Sichuan, Chongqing, Shaanxi, Beijing, 9 provinces (municipalities) promoting pilot.
credit mortgage refinancing, what the hell this is? We have never said this before! Similar "reverse repurchase RR, short-term liquidity adjusted SLO, standing lending facilities SLF, PSL mortgage supplement loans and other" people don't understand the unconventional names gamesmanship.
However, it was because "credit mortgage refinancing" words and break out in a cold sweat. There are several means? That is, previous commercial bank loans to the Central Bank, is secured by government bonds, Central Bank bills, high grade credit debt and so on, if there are insufficient qualified collateral, banks can't get more loans from the Central Bank, will reduce liquidity in the market; this new policy came out, by virtue of the local government or commercial bank business credit, it can be used as collateral, get new loans from the Central Bank.
for example, commercial bank lending to 1 million enterprises, enterprises are still not, commercial banks ' purse strings tighten, wants access to Central Bank funding, it can add corporate debt as collateral, after Central banks agreed to run the printing presses, to borrow hundreds of thousands of commercial banks.