助贷新规倒计时：平台加速转型，"双融担"退场在即

Core Viewpoint - The new regulations issued by the National Financial Supervision Administration aim to enhance the management of internet lending services by commercial banks, targeting long-standing issues in the industry such as the "dual guarantee" model and ensuring compliance with risk pricing and cost transparency [1][2][3]. Group 1: Regulatory Changes - The new regulations, effective from October 1, require banks to avoid partnerships with non-compliant institutions and to implement differentiated risk pricing [1][2]. - Banks must accurately understand the actual fees charged by credit enhancement service providers to ensure that the comprehensive financing costs for borrowers do not exceed the legal protection limit of 24% annual interest [2][3]. - The regulations will eliminate the "dual guarantee" model, which has allowed some platforms to inflate effective interest rates through additional fees [3][4]. Group 2: Market Reactions - Following the announcement of the new regulations, lending platforms are rapidly adjusting their business models, with many smaller institutions racing to comply before the transition period ends [1][8]. - Some banks are tightening their funding strategies and increasing scrutiny over the lending platforms they partner with, moving away from the previous "easy profit" model [5][6]. - The implementation of a whitelist for compliant lending institutions will raise the entry barriers for smaller platforms, leading to a potential industry consolidation [4][10]. Group 3: Industry Impact - The new regulations are expected to lead to a significant reshaping of the lending landscape, with smaller, non-compliant platforms likely to be phased out [10][11]. - Major players in the market, such as Ant Group and JD.com, are positioned to benefit from the regulatory changes due to their established compliance mechanisms, while smaller platforms may struggle to adapt [10][11]. - The shift towards self-operated channels by banks is anticipated as a strategy to regain control over compliance and reduce reliance on third-party platforms [11].