Research On P2P Lending Capital Pool

P2P lending is kind of peer to peer lending based on the Internet network. P2 P lending network break the traditional lending restrictions on spatial extent, lenders and borrowers match each other through the network, it is a supplement of traditional financial. P2 P network lending originated in Britain, foreign P2 P platforms are all pure intermediary, such as Zopa, Lending Club, the platform does not involve in lending relationship. But after enter our country, there are many problems. P2 P platform make use of credit transfer mode, provide security for lenders, build capital pool, and even illegal fund-raising. 2016 occurred "e zu bao" incident, security of P2 P lending become the focus.This paper studies P2 P capital pool’s harms and Solutions. Funding capital pool refers P2 P platform through packaging loans into fiance products, or collects the funds from lenders first,then looking for borrowers,the platform can dominate the money in capital pool. This paper reviews the several sources of capital pool of P2 P platform, according to sources of the funding pool is divided into active and passive capital pool. Passive capital pool including Lenders put funds into accounts of platform, the platform put funds into the borrower’s account,this time produce a capital pool; risk fund for lenders produce capital pool. Active capital pool including the platform first imputation funds, and then look for loan project; Design of financial product form capital pool. At the same time, Platform build capital pool will lead to great risk, for example,lead to liquidity crisis,even evolve into a "Ponzi scheme". Increase the risk of running. Build capital pool will also involve in funding illegality, wandering in the edge of the law.The most effective solution is to establish a system of fund trusteeship. Customer’s funds by a third party hosting,P2 P platform does not participate in the flow of fund, can not control fund. The third party is responsible for lenders and the borrower’s financial management and supervision. our country has introduced regulatory measures to require P2 P platform choose banking institutions to manage the borrower’s fund. Meanwhile, many specific provisions have been made like: responsibilities of fund depository institutions; disclosing information of platform, and obligations of lenders and borrowers. In addition to regulatory authorities others also need to work together. Platform should strengthen self-construction, improve the ability of controlling risk, critical review the borrower’s credit and improve the quality of employees. Industry self-regulation should play a greater role in the development of P2 P lending, establish a unified industry standard, supervise the operation of P2 P platform. Strengthen education of lenders, lenders should have ability to take risk. We hope P2 P platform eventually return to information intermediaries, develop better, serve the society better.