Jiang Xufeng (senior financial person).
The depositor's money deposited in the bank has interest accrued on a daily basis and is paid at the agreed time. However, the so-called "every day" is not the beginning of a "new day" at the zero point of each calendar day, and each bank has a concept of a "day cut" time.
The daily cut, that is, the log switch, generally, the daily cut time configured by the system (generally the trough time of night trading), will activate the daily cut program of the center, and the system switches from the current working day to the next working day, which is a step in the batch processing of the core system on the same day, and after this step is executed, the system date is the next working day.
The core system of each bank is different, the working hours are different, and the daily cut time is not uniform. It is precisely because of this disunity that the so-called "daily cut" arbitrage was born.
The so-called "daily cut" arbitrage refers to the use of the time difference between the daily bookkeeping time points of different banks' core systems to "step on the point" and "relay" the transfer between multiple banks in a short period of time, so as to realize that the same fund is recognized as an end-of-day deposit in multiple banks on the same day.
For example, the "daily cut" time of one bank is 22 o'clock, and the "daily cut" time of another bank is 23 o'clock, that is, depositors can deposit funds in a bank before 22 o'clock, and then transfer the funds to another bank before 23 o'clock, and then get the interest on the current funds of the two banks within the same day.
How much will the daily arbitrage income be? Take 1 million as an example, according to the current demand deposit interest rate of 0For example, 35% is 9$7. Two banks will be about 10 yuan more if they turn around. With such a profit to calculate, there is no need to toss around. However, 035% is just the normal current rate for some traditional banks. For some banks that lack funds, the actual demand rate will be much higher than 0A nominal interest rate of 35% tends to reach 2About 5%-3%. In this way, if you calculate the 1 million yuan, the income in one night will reach about 70 yuan. A few more accounts and a few more operations, and this snowball will roll big.
In order to plug this loophole, some financial regulatory authorities have issued documents requiring legal entities within their jurisdiction to adjust the "daily cut" time of the core system to 24 o'clock, which should be completed by the end of March 2024 in principle; For branches, the regulatory requirements should be reported to the head office in a timely manner, and it is recommended to adjust the "daily cut" time to 24 o'clock. In fact, the bank itself will also dynamically adjust the "daily cut" time to prevent arbitrage, and at the same time manage the "daily cut" time as a trade secret, so it is difficult for ordinary depositors to arbitrage through the "daily cut".
In fact, some people in the industry have long taken advantage of this loophole to arbitrage, and if you want to succeed in daily arbitrage, you must choose the right bank. The target bank needs to have:
1.There is a high interest rate on demand deposits.
2.The daily cut time can be staggered.
3.The inter-bank transfer limit is high and there is no transfer fee.
4.Banks do not have strict anti-money laundering monitoring and management.
It seems impossible to complete the task, but as long as you are a caring person, you can still find a target in the market. Of course, from the actual point of view, there will also be failures, and the jargon is called 'cutting and drifting'. Occasionally, it will not be detected by the bank's monitoring system. Many fund brokers carry out arbitrage through the "daily cut", which not only leads to the distortion of bank data, but also pushes up the cost of debt.
If banks don't want to be innocently picked, they need to strengthen fine management. However, under the pressure of some performance appraisals and market operations, the occurrence of these things is often a willingness to fight and suffer. Kunpeng Project