"Our bank deposit interest will start to be lowered tomorrow, seize the last opportunity to lock in profits!" On August 1, an account manager of a city commercial bank posted the fixed deposit interest rate information on his bank's WeChat Moments.
In April this year, People's Bank of China guided the interest rate self-discipline mechanism to establish a market-oriented adjustment mechanism for deposit interest rates. Subsequently, the interest rates of fixed deposits and large-denomination certificates of deposit of many large banks and shares were lowered to varying degrees. Up to now, many banks have seen the 3-year and 5-year deposit interest rates remain the same.
At the same time, a reporter from First Financial learned from many regional banks in Guangdong that compared with large banks, the deposit interest rates of most urban commercial banks and Rural Commercial Banks are not low, and the 5-year fixed deposit interest rate (whole deposit and whole withdrawal) is more than 3%, which is higher than the listing interest rate of large banks. However, this may not be a good thing for small and medium-sized banks. A person from a rural commercial bank told reporters: "For small and medium-sized banks, although raising interest rates can attract deposits, it is not conducive to the overall development of banks."
Many large banks 3 and 544444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444444 In comparison, the deposit interest rates of regional banks are not low. For example, the Guangzhou Bank html fixed deposit interest rate for is as high as 3.45%, while the 5-year (starting deposit amount is 50,000 yuan) is set to 3.5%.
In fact, as early as April, Central Bank disclosed that major state-owned banks and most joint-stock banks have lowered their interest rates for term deposits and large-denomination certificates of deposit in late April, further promoting interest rates to decline, resulting in a "inverted" or "even".
Some industry insiders said that the reason for the flat interest rates is that my country's medium- and long-term interest rates will show a downward trend. After the central bank guided the interest rate self-discipline mechanism to establish a market-oriented adjustment mechanism for deposit interest rates in April this year, regulators encouraged members of the self-discipline mechanism to refer to the bond market interest rates represented by the 10-year treasury bond yield and the loan market interest rates represented by the 1-year LPR to reasonably adjust the deposit interest rate level, and the bank deposit interest rates also declined.
3-year and 5-year deposit rates have been in the same position for a long time. Cai Hao, senior researcher at the China Chief Economist Forum, believes that since November 22, 2014, the central bank will no longer announce the benchmark interest rate . The "five big moves" have since gradually narrowed the spread of the 3-year and 5-year deposit rates until October 24, 2015 (the central bank adjusted the benchmark interest rate for the last time), and the spread between the two narrowed to 0, both of which were 2.75%. Larger banks followed suit, and although they added points on this basis, they also maintained the interest rate spread between the two to 0.
So, why has the bank deposit market attracted much attention recently? Cai Hao pointed out that first of all, the market-oriented adjustment mechanism for deposit interest rates is to guide major banks to lower the interest rates of large-denomination certificates of deposit, and to better alleviate and serve real enterprises by structurally reducing bank debt costs. Secondly, after the outbreak of the epidemic, the stock market was sluggish, the fund and financial management income declined, and the financial system and residents both lacked desirable assets, making the attractiveness of market-oriented deposits such as large-denomination certificates of deposit that have lowered interest rates still high.
Small and medium-sized banks have high deposit interest rates but not " seller "
In addition to whole deposit and withdrawal, regional banks have also significantly higher deposit interest rates in large deposit certificates than large and medium-sized banks. Among them, the fixed deposit interest rate of most regional banks for 3-year large-denomination certificates of deposit is close to 3.5%, while the 5-year (starting deposit amount of 100,000 yuan) is close to 4%.
In fact, the deposit interest rates of small and medium-sized banks have been on a downward trend. "This year (term deposit interest rate) has been lowered." The aforementioned person from the rural commercial bank told reporters. He believes that the deposit interest rates of many small and medium-sized banks are still relatively high today, which is related to the pressure of small and medium-sized banks to attract deposits. However, for some small and medium-sized banks, attracting deposits with high interest rates is not a good thing.
"First of all, it is a cost issue. While offering high interest rates, banks are also dragging themselves down; secondly, while bank deposit interest rates are pushed up, loan interest rates will also rise accordingly, which also exposes the operating costs of economic entities (enterprises) and squeezes the financing space of economic entities. If banks insist on high interest rates on loans and do not let go, they may be transmitted to the bond market and trust market through the capital chain, and even indirectly to the entire capital market." The person further pointed out.
However, even if the deposit interest rate is significantly higher, many customers still prefer deposits in large banks. A bank financial manager told reporters that compared with large banks, the credit and stability of small and medium-sized banks are more suspicious to customers; at the same time, due to the uncertainty of the epidemic, fixed deposits are not attractive enough to customers, and the longer the deposit period, the greater the risk, and the more customers value the credibility of banks; in addition, small and medium-sized banks lack enough outlets, and due to the central bank's restrictions on small banks, many banks can only promote products through offline outlets, online websites, and bank APPs, so even if there are high-interest deposit business or financial management projects, many customers do not understand.
In addition, small and medium-sized banks are still in a dilemma of asset-liability. Zhang Jiqiang, deputy director of Huatai Securities Research Institute, said that small and medium-sized banks are in a dilemma of asset-liability. The loan storm and rural bank incidents have a blow to the asset quality and credit environment of local small and medium-sized banks. It is not ruled out that the interest rate spreads such as capital bonds and certificates of deposits of small and medium-sized banks will be differentiated from large banks in the future. Be cautious about the decline in the qualifications of bank entities. From a longer-term perspective, it is a thing of the past for attracting deposits at high interest rates. Small and medium-sized banks need to explore the new debt management model.
