Chapter 113 Before the Storm

"Director Wang?" Su Yu whispered.

His mind flashed back to the situation in the hotel that night, and he understood it, saying: "What is the basic task your leader gave you? I have a little spare money, but not much, and I need to use this money at any time. It's okay to leave it in your bank for three or five days, but it won't work for a longer period."

His current account is opened at Huashang Bank.

As the largest bank in China and known as the "Universe Bank", Huashang Bank, although it will be affected by the market's "money shortage" crisis under the current situation due to misjudgment of the central bank's monetary strategy, its ability to resist risks is still the strongest in the domestic banking industry.

In other words...

For Huashang Bank, the money in his hand is just a drop in the bucket, and it has little impact on deposits and withdrawals.

But for local commercial banks like Qianjiang Bank, it is different.

Although Huang Yu and him were not close friends, they could still chat for a while. It was a simple task, a timely help, and beneficial to his own interests. He had no reason to refuse.

"The basic task is 7 million..." Huang Yu said, "Of course, if Brother Su can deposit more funds in our bank and attract more customers to deposit funds in our bank, as long as the term of the current deposit can exceed 7 days, I can personally give Brother Su a rebate at an annual interest rate of 1% and daily interest settlement."

"7 million..."

Su Yu pondered for a moment and said, "Okay, send me the address of your branch, and I will come to open an account tomorrow."

"Thank you very much, Brother Su." Huang Yu said gratefully, "If you have anything in the future and need my help, just ask, as long as I can do it, I will never refuse."

"Okay!" Su Yu responded, and then chatted for a few words and hung up the phone.

Then, he turned his attention to the stock market. At this time, the stock market had closed. After a series of declines, the Shanghai Composite Index had fallen to 2073.11 points, just one step away from the previous support level of 2000 points. The ChiNext Index, during this period of continuous decline, was sideways near the 1000-point mark, and had been fluctuating between 1000 and 1025 points.

As for individual stocks...

Shanghai Steel Union, which Su Yu had previously sold, had fallen to 15.23 yuan after hitting a rebound high of 20.36 yuan in more than ten days of adjustment, and the intraday trading volume had shrunk to less than 100 million yuan, but the market sentiment remained unchanged; Huaqingbao's stock price had fallen from a high of nearly 40 yuan to 31.25 yuan, and the market attention was still high.

Netspeed Technology and Fenda Technology.

In the market, under the premise of money shortage and the institutions that entered in the early stage withdrawing funds to avoid market risks, the retracement is similar to that of Shanghai Ganglian and Huaqingbao, and it does not reflect stability.

Now, the stock prices of the two stocks are fixed at 43.67 yuan and 15.46 yuan, respectively, with market capitalizations of 8.734 billion and 2.319 billion, respectively.

LeTV has retreated by about 10%.

Flush and Dongfang Fortune have not moved much, and have been trading sideways at the previous prices, following the fluctuations of the ChiNext.

Seeing the trend of these stocks in the past ten days, as well as the sharp correction of the previous hot concept stocks in the entire market, and the wonderful scene that the low-priced ChiNext stocks that few people pay attention to and have no institutional holdings are sideways under the situation of the heavyweight stocks of the Shanghai Stock Exchange Index chattering.

Su Yu is more certain about the bottom of the market.

He carefully checked the main falling stocks and main falling sectors in the entire market during this period of time, and found that they were basically concentrated on the main board big finance and the white horse, blue chip stocks and high-priced core concepts of the ChiNext with heavy institutional holdings.

That is to say...

During this period, the main falling varieties have always been the heavyweight stocks held by institutions.

As for the core hot concept stocks of the GEM, the reason for their sharp correction is more affected by the market sentiment during the continuous decline of the Shanghai Stock Exchange Index.

But the same...

In the main board market, except for the large financial, white horse and blue chips with heavy institutional holdings.

The trend of many other unnoticed and unpopular small tickets is basically the same as most of the constituent stocks of the GEM Index. When the Shanghai Stock Exchange Index fell, they no longer chose to follow, but chose to go sideways.

After a brief review, Su Yu checked the messages in the two groups he joined.

He judged the level of market sentiment.

I saw...

In the retail investor group, there were not many complaints. The whole group seemed very quiet, and there were not many people talking. Compared with ten days ago, the lively scene was greatly reduced; while in the main hot money group, everyone's discussion was still hot, but most of them were complaints. They were all complaining that the recent market was difficult to do, and the board hitting was not sustainable at all.

After the Shanghai Steel Union opened the market nine-board space.

In the entire market, in these ten days, not only no other stocks can break through this height, but also the number of stocks that can achieve consecutive boards is getting smaller and smaller.

In recent days, with the Shanghai Index falling for four consecutive days.

Even the natural daily limit that achieves two consecutive boards has become very scarce. Often, one board is closed, and the funds in the market flee on a large scale the next day.

Even after one board limit.

The next day, in order to get ahead, many funds directly opened sharply lower and killed.

"Hey, the total turnover of the two cities has fallen again today. This is the fifth consecutive trading day of decline, right? It feels like if it continues to fall, it will go back to the second half of last year, and the extreme liquidity that existed in January and February today. It’s a dark day when the transaction volume in the two cities is less than 30 billion.”

Some people in Su Yu's main hot money group complained helplessly.

"In April and May, the market rose continuously, and the ChiNext Index even reached the highest level of 1,100 points. The turnover of the two cities also continued to rise month-on-month. I originally thought that after such a long period of downturn, the market should have bottomed out and reversed, but it didn't. Come to think of it... a sap in June will really bring us back to square one."

"Today is June 21st. Since June, the Shanghai Composite Index has only been in the red for three trading days. Can you believe it? And among these three days of red trading, there was one day where the increase was 0.13%. It's simply..."

"I finally made a little profit from the Shanghai Steel Union following Brother Su, but now I have lost all of it."

"This month is really difficult..."

"The market's drop is a bit unreasonable. There doesn't seem to be anything particularly negative in the market. As a result, it's not even the end of the month yet. The Shanghai Stock Exchange Index has fallen by more than 10% since the beginning of the month. This is an index, and it's still at a low level of around 2,200. , It’s unimaginable that it can drop so much in half a month.”

"The GEM index has not fallen much this month, but it has outperformed the Shanghai Index."

"Judging from the overall trend of the GEM, it is not that bad, but the continuous profit-making effect of the entire market is too poor. I feel that using the board to create emotional premiums is completely inappropriate in the current market."

"Short-term emotional investment is not good, and trend investment is even less good!"

"Looking at the market trends in recent times, the worst-hit stocks are stocks with large institutional holdings. Even the medicine to cross the bull and bear market is no longer effective."

“It feels like the institution has entered a prisoner’s dilemma of passive selling, right?”

"There seems to be this sign..."

"If the Shanghai Stock Exchange Index continues to fall by another 10%, I am afraid that most institutions on the market will be forced to liquidate."

"If it falls by another 10%, it will break a four-year low! Is it possible that the Shanghai Stock Exchange Index will hit the low of 2008? Isn't it?"

"Who knows? Judging from the current trend, it is indeed bottomless!"

"In fact, the market valuation is already very low, even lower than the worst period in 2008. Looking at the banking sector, the average price-to-earnings ratio has dropped to around 4.5. This was not true before, could you believe it?"

"Haha... Yes, even if I don't do bank stocks, this price-to-earnings ratio is really unprecedented."

"One or two years ago, those institutions that were calling this sector a market valuation depression have suffered losses to the point that they have to be liquidated. So... for bank stocks, looking at the price-to-earnings ratio is of no use, right?"

"The price-to-book ratio is also miserable. It has broken through one after another, and the lowest one has dropped to 0.6."

"But recently, the big financial sector, led by banks, has suffered the most."

“Since 2008, amid the central bank’s successive releases of water, banks’ off-balance sheet assets have expanded seriously, and both their price-to-earnings ratios and their price-to-book ratios have been artificially high. We also need to look at their provision ratios and bad debt ratios, otherwise... I feel that no matter how low the price-to-earnings ratio or the price-to-book ratio is, it makes no sense.”

"Brother Su hasn't appeared recently either. What's going on?"

"I heard that Brother Su has opened a private equity fund. He should be busy with the company, right? But the market is really bad recently. Even if Brother Su takes action, there is no chance of winning, right?"

Su Yu watched the discussion in the group in silence.

I know that at this time in the market, investment sentiment has already reached freezing point.

However, due to the market shortage of money in the domestic financial industry, major institutions have sold off securities assets to withdraw capital flows, which has also caused more institutions to passively reduce their positions due to the decline in net worth, suppressing the market rebound in a chain reaction.

But Su Yu knew...

Once this kind of continuously suppressed emotion finds an outlet, it will inevitably burst out with a vengeance.

It's like a spring being pressed to its extreme.

When the force exerted on the spring is suddenly relaxed, the spring is bound to rebound quickly.

In the atmosphere of money shortage in the entire market, and under the growing fear of everyone, the power of the central bank to rescue the market is the outlet for that emotion.

"Mr. Su..."

While Su Yu was contemplating his review, Li Meng walked into his office and said, "The president of the Wealth Center Branch of Huashan Bank, that is, President Zhou, called me. He hopes to invite you to have dinner with him tonight. I heard what he meant. , I hope that the raised custody funds of our 'Yuhang No. 1' have not been transferred to the securities account yet, so that they can stay in their branch for a few days. What do you think about this? "

The other party's call came less than half an hour after Su Yu transferred part of the fund custody funds into the Huashang Securities capital trading account.

So, its purpose...

Li Meng thought it was quite clear.

"President Zhou?" Su Yu was stunned for a moment, then came to his senses, "This is the branch where our fund funds are held, right?"

"Yes!" Li Meng nodded.

Su Yu chuckled and said, "I didn't expect that even Huashang Bank started to tighten the cash flow of large accounts in the bank, trying to prevent large accounts from withdrawing money or transferring funds out. It seems... the money shortage in the market has reached a serious level. It’s so bad, something big is expected to happen this weekend!”

Even giant banks like China Commercial Bank have begun to tighten cash liquidity within the bank.

As you can imagine...

Many local commercial banks must have panicked.

"Then... do you want to meet?" Li Meng asked, "If you don't want to meet, I will push it away."

Su Yu thought for a while and said: "In the future, we should have many opportunities to deal with the banking system. The Wealth Center Branch of China Commercial Bank can be regarded as a core branch. The future of President Zhou is still very bright. We still have to meet... …Look what he has to say!”

"Okay, then I'll inform President Zhou."

Li Meng responded and then exited the office.

Later, at 6 p.m., after officially getting off work, Su Yu and Li Meng arrived at the private room of the hotel invited by President Zhou.

Except for Governor Zhou.

Several other core managers from the Wealth Center Branch of China Commercial Bank were also present.

It can be said to be a very high invitation standard.

"Mr. Su... you are well." President Zhou stood up in a hurry and reached out to shake Su Yu's hand. "I really didn't have time to leave yesterday and couldn't come to the company to support him in person, so I can only invite Mr. Su alone today. I hope that I can Save some regrets for not being there yesterday.”

Of course, having said that…

In fact, it was just that he was not optimistic about and did not pay attention to the newly opened private equity company 'Yuhang Investment' before.

I feel that in the current investment environment, the other party does not raise funds publicly, and its new fund size can exceed 20 million, which is very good.

And the incremental business of 20 million... is not worthy of the president's personal support.

So, he didn't go then.

Unexpectedly... the final fundraising result reached 400 million.

Although the incremental business of 400 million is a fund custody business, it is already considered a very heavyweight for his branch.

Moreover, the timing happened to be at a time when ‘the entire market was inexplicably and extremely short of money’.

Then he would have to step forward to win over Su Yu.

And, in addition to this reason, there is also a more important reason.

That is, this afternoon, the branch leader issued a fatal order to him, requiring him to stick to the bank's capital stock and prohibit lending funds to other branches in the form of inter-bank lending.

This gave him an unusual smell.

It seems that the "money shortage" crisis in the entire market is beginning to get out of control and is on the verge of losing control.

Therefore, he immediately contacted Li Meng, trying to persuade Su Yu to allow the custody funds of the 'Yuhang No. 1' fund to stay in the branch for a few more days, giving him more room for maneuver and crisis response.

Although Chinese bankers have great careers, even if there is a run crisis on the entire banking system.

With the support of branches and the head office, each branch can survive no matter what.

But when it comes to individuals...

In other words, if the branch he runs has a risk control problem, even if he can survive the crisis in the end, his own future will be ruined.

Therefore, in order to prevent this risk from happening to yourself.

Even if there is only a hint, he will nip the risk in the cradle to ensure his own safety.

"President Zhou is so polite." Su Yu said with a smile, "Being able to eat President Zhou's meal today, I can already feel President Zhou's affection."

After saying that, Su Yu sat down with a smile.

Then, under the recommendation of Governor Zhou, he, Li Meng, and everyone else said hello to each other.

Immediately afterwards, among the gossips and pleasantries, the wine passed three rounds and the dishes passed five flavors.

At this time, President Zhou brought the topic back to the main thread and said: "Recently, our branch has been under a bit of financial pressure. The branch and the head office have tight control, so we hope that Mr. Su can make the funds of the 'Yuhang No. 1' fund available." Leave it in our custody account for a few more days.”

"In this way... we can have more balance to meet the expenses of other businesses."

"Of course, during the period when the funds are retained, our bank can pay interest on the retained funds according to the overnight repurchase rate disclosed in the market."

"No problem." Su Yu said with a smile, "The market is not open on Saturdays and Sundays anyway."

"But..." Su Yu paused and then said, "During the opening of the market, what I can promise President Zhou is that we can transfer funds in line with the company's fund position building progress, instead of making a one-time transfer. In this way The balance of funds retained in your bank should be buffered, what do you think?”

President Zhou was silent for a moment.

Thinking that ‘Yuhang Investment’ is a private equity investment company after all.

It is definitely unrealistic to ask the other party to keep all funds in the branch and maintain a long-term short position. After all, this is obviously contrary to the other party's company's business strategy and the perspective of fund investors.

So after thinking for a while, he couldn't help but nodded and said, "Yeah... that's okay."

"However, I still hope that Mr. Su can keep at least 100 million in funds within a week. Do you think... is that okay?"

After the other party made concessions, this was his lowest demand.

"Okay!" Su Yu said, "President Zhou has spoken personally. If I don't agree to these conditions, then I will not give President Zhou face."

"Ha ha……"

Mr. Zhou laughed and was very happy to see Su Yu agree: "Then I owe Mr. Su a favor. Mr. Su can use my old Zhou's place in the future, so please feel free to ask."

"With Governor Zhou's words, I will make a lot of money."

Su Yu chuckled and said, "President Zhou is so pretentious that one favor is worth at least a thousand pieces of gold!"

In his plan, when he later uses leverage to leverage the land in Ancai Paper's hands, he will definitely need bank loans to support it.

So, in his opinion...

At this time, taking advantage of the influence of the "market money shortage", you will definitely not suffer a loss if you establish some connections and accumulate some favors in the banking system.

What's more, before the market opportunity for building a position is revealed.

There is nothing wrong with earning a little interest money from within the bank.

After all, no matter how serious the market money shortage crisis is, can the central bank still ignore it? Let the risk of the entire system continue to spread like this?

Therefore, no matter what he chooses, there is a financial risk.

There is no need to worry at all.

"Where, where..."

President Zhou didn't expect Su Yu to be so easy to talk to and so polite. For a while, he had a lot of goodwill and trust in him. He smiled and said: "President Su is a young hero, a future star in the business world. To be honest... The fundraising scale of the 'Yuhang No. 1' fund is very surprising. Currently, there are not many pure stock investment funds with a scale of more than 400 million in our bank's internal sales. "

"President Zhou is so complimentary." Su Yu said, "We at 'Yuhang Investment' have just started, and there is still a long way to go in the future. President Zhou will praise me too high. I'm afraid I haven't climbed to the high point you mentioned. , it fell down, it wouldn’t look good.”

"Haha, Mr. Su is joking." President Zhou said, "I have heard about your recent investment in the stock market, and I really admire you."

The two of them just talked about complimenting each other...

It wasn't until nine o'clock in the evening that everyone except Li Meng drank a lot of wine and had fun with each other before they dispersed.

After returning home, Su Yu felt a little dizzy after drinking, so he briefly exchanged a few words with Li Meng, then washed up and went to bed early.

Then, when he woke up the next day, he was faced with a dozen missed calls on his phone.

Only then did he discover...

According to the information push, overnight, the money shortage crisis in the domestic financial system completely exploded. The overnight repurchase rate and interbank lending rate between banks soared from yesterday's average exchange rate of around 4.5% to more than 15%.