Investor protection fund established Central Bank refinancing to start 100 billion

Central authorities yesterday confirmed that in the near future to further loans funded 100 billion is not weakened to salvage dealers, but rather for investor protection fund start-up funds.

Previously, the market rumors Bank has decided to China Securities Depository and Clearing Corporation provides 100 billion and loans from the company to the China Securities Regulatory Commission specified securities provide liquidity support. To this end, the officials made clear that the Central Bank, the Bank offers 100 billion is investor protection fund startup funds, funds from investors protection fund is not responsible for the reimbursement, to the mobility of salvage dealers.

It is understood that the securities investors protection fund is mainly used for the acquisition of bankruptcy, closing or cancellation of the debt securities companies, as well as compensate for these securities company misappropriation of client security gaps, etc. Authoritative sources, the Securities Investor Protection Fund will take the form of corporate funds.

It is said, the Securities Investor Protection Fund was established at an early stage, central banks and loans, the financial funds will constitute the main sources of funding. In accordance with the relevant provisions, the establishment of the Fund consists primarily of sources: the Shanghai and Shenzhen stock exchanges in five transaction fee of 20% into the Fund; all the registered securities company, the business income of 0.5% to 5% of the payment of funds, shares, convertible bonds and other securities, purchase the freezing of funds of interest income; by law to recover the responsible party and the proceeds from securities company bankruptcy liquidation income; the repayment in the domestic and foreign institutions, organizations and individual donations, and other legal income.

In addition, it is established by the Securities Investor Protection "Fund" and not "guaranteed" funds, stock market investors to undertake the appropriate risk. Industry stressed that since the establishment of the Securities Investor Protection Fund will use State funds, "spend money to buy mechanism rather than just pay the Bill", is the establishment of the Fund's most important objective. Propulsion system construction, let system to prevent man-made and market risk, which is paid after the end of the result.