It’s the middle of the year again, when the war between banks and banks to attract deposits is supposed to intensify, but various outlets seem a little calm. There have been very few deposit-taking activities, and the increase in deposit interest rates has not come as expected. The interest rates of medium and long-term time deposits of many banks have been "inverted". Many account managers even bluntly said when recommending products that "the decline in deposit interest rates in the future has become a problem." High probability event".
It is difficult for bank interest rates to rise in the middle of the year.
In previous years, many banks usually raised the interest rates of some products in the middle of the year to attract depositors' funds. Therefore, the middle of the year is also an important time for many savers to invest in financial management.
However, since May this year, bank deposit interest rates have not increased significantly. According to industry insiders, the current performance comparison benchmark of one-year closed-end net worth financial products is generally between 3% and 4.5%. The yield rate of some products not only did not rise in the middle of the year, but fell instead. In addition, the interest rates of "sharp tools" such as large-denomination certificates of deposit and products have also been lowered than at the beginning of the year, and the quotas are tight.
An account manager of a joint-stock bank said that in June, the bank’s three-year special deposit product with a 3.5% interest rate had no quota, and the large-denomination certificate of deposit product had also been sold out.
Why are banks generally not enthusiastic about attracting deposits? According to industry insiders, there are two reasons why banks are "not active" in collecting reserves. On the one hand, since the beginning of this year, the central bank has implemented reserve requirement ratio cuts twice and has increased its demand for liquidity through a variety of monetary policy tools. After the investment is released, the entire market has relatively abundant liquidity, and banks are "not short of money." On the other hand, due to the dual impact of the economic downturn and the epidemic this year, the development of the real economy has been relatively weak, the entire market has insufficient effective credit demand, there are some difficulties in capital investment, and the "asset shortage" phenomenon still exists.
The longer the deposit period, the lower the interest rate?
Recently, the interest rates of medium and long-term time deposits of many banks have been "inverted". There is almost no difference between the interest rates of 3-year deposits and 5-year deposits. Some analysts believe that more banks may lower deposit interest rates in the future.
At the same time, the yield on large-denomination certificates of deposit continues to decline, and the interest rates of some products have become the same as those on limited deposits in the same period. Not only that, the interest rates on large-denomination certificates of deposits have also continued to decline, showing an "inversion" trend with the interest rates on ordinary time deposits. The mobile app of a joint-stock bank shows that the bank's three-year large-denomination certificate of deposit (minimum deposit of 200,000 yuan) has an interest rate of 3.4%, which is basically the same as the highest interest rate for ordinary time deposits of the same period.
In fact, since the establishment of the deposit interest rate marketization mechanism in April this year, the banking industry has carried out a round of interest rate adjustments. The key adjustment direction at that time was medium and long-term deposits with a maturity of more than 2 years. In order to enhance the ability of banks to support the real economy, after the establishment of a market-based adjustment mechanism for deposit interest rates, six major state-owned banks and most joint-stock banks took the lead in lowering the interest rates on time deposits and certificates of deposits with a maturity of more than one year at the end of April. The adjustment range was much larger. is about 10 basis points. According to the analysis of some banking industry insiders, according to the downward trend of interest rates, banks currently do not want customers to "lock in" a certain interest rate through deposits of three years or more, which will increase the bank's interest payment costs.
Industry insiders generally believe that banks are adjusting their liability-side strategies. Due to relatively sufficient liquidity in the short term and the pressure on net interest margin caused by the long-term decline in loan interest rates, coupled with insufficient effective credit demand, banks are unable to absorb deposits, especially in the medium and long term. , the motivation for high-cost deposits has been greatly weakened. Huashang Daily reporter Li Bin
