During the year, the third application agency, the French Bank of Paris's application of fund custody business materials was received

Following the submission of the "Establishment of the Establishment of the Securities Company" in January 2022 and the acceptance of it, recently, the relevant materials related to the "Fund Custodian Qualification approval" submitted to the regulatory of the French Bank of France have also been received on July 19.

Prior to this, foreign banks have set up a fund custody business for two years, and the last one applied for foreign -funded Deutsche Bank (China) Co., Ltd.

The bank's materials were accepted in April 2020, and in December 2020, it was issued by the issuing fund custody license, becoming the third foreign bank with this license after Standard Chartered Bank and Citibank.

Public information shows that the Bank of Paris Group is a well -known financial institution in Europe. At present, there are nearly 500 employees in China, and the relevant banks and fund business have been carried out in China through holding Nanjing Bank and Haifong Fund.

Previously, in January of this year, Bank of France, France, submitted a domestic securities subsidiary to apply for and was accepted, which also made it the first foreign -funded institution that seemed to seek domestic securities trading licenses and obtained progress.

At the same time, with the establishment of the business in the French Bank of France, there are 3 institutions that have set up a fund custody business in 2022. Previously, the two were Dongxing Securities and Xiangcai Securities; There are three, namely Suzhou Bank, Nanjing Securities and Oriental Fortune Securities.

Public information shows that the fund custody business is mainly to carry out security custody of the fund's property, handle clear and settlement, review and review net worth information, and carry out investment supervision business. The fund custody fee is the main source of income for the licensed institution to carry out related businesses, and adopts a day -by -day and monthly payment.

Earlier, the research report released by Minsheng Securities mentioned that the fund custody of nearly 30 billion markets, and banks occupied most of the market share. As of now, there are 58 licenses in the industry's fund custody, including 29 banks and securities firms.

According to Wind data, the fund custody assets were 25.2 trillion yuan in 2021, and the total cost of custody was 28.9 billion yuan, an increase of 44%year -on -year. According to the cost structure, the custody costs received by the bank reached 28.56 billion yuan, of which ICBC, CCB, and the Bank of China had custody costs of 51.5, 45.8, and 3.39 billion yuan. The total cost of collecting custody for securities firms is only 380 million yuan. Its China Thai Junan, China Merchants Securities, and Guangfa Securities are ranked among the top three, with an average rate of about 0.08%.

- END -