The central bank's competent media: May M2 and other financial data may be greatly affected

On May 30, the reporter learned that in the past, non-bank finance such as wealth management borrowed a large amount of funds from commercial banks. Recently, with the obvious diversion of bank deposits to wealth management products, non-bank financial funds are relatively abundant, and the amount of borrowing from commercial banks has been greatly reduced. This is the embodiment of the development of direct financing and the crowding of water by banks. It can promote the healthy development of the financial system, but it will also lead to a slowdown in the expansion of bank assets for a period of time, and the growth rate of M2 will decline rapidly. Financial data in May will continue to be affected. Compared with deposits, long-term treasury bonds have higher interest rates, better liquidity, and lower credit risks than other types of wealth management products. The reason behind its popularity is still the search for high-quality assets in the "asset shortage" pattern.