Looking back on 2023, what major events have happened in the banking industry this year?And how did it affect us?Below, together with the senior sister, I will take you to relive the major events of the banking industry in 2023!
Silicon Valley Bank went bankrupt and Credit Suisse crashed
On March 10, local time, the California Department of Financial Protection and Innovation closed Silicon Valley Bank on the grounds of "illiquidity and insolvency" and appointed the Federal Deposit Insurance Corporation as the receiver. Silicon Valley Bank became the second-largest bank to fail in U.S. history. On March 19, the storm of collapse spread to Europe, and the old bank Credit Suisse crashed.
The State Administration of Financial Supervision and Administration was officially listed
On May 18, the State Administration of Financial Supervision and Administration was officially launched. According to the reform plan, the State Administration of Financial Supervision and Administration was established on the basis of the China Banking and Insurance Regulatory Commission, which is responsible for the supervision of the financial industry except for the first industry. China's financial regulatory system has entered a new era of "one bank, one general administration and one meeting" from the original "one bank, one commission, one meeting".
During the year, the listed interest rate of deposits was lowered three times
This year, under the guidance of the regulatory authorities, banks have carried out three rounds of deposit rate cuts in June, September and December, and the overall market interest rate has remained at a relatively low level. In order to obtain higher interest income, some people have become "deposit special forces" to save money across provinces, and many people have begun to turn to investments, financial products, etc.
The Financial Stability Act is included in the legislative plan
On September 7, the "Legislative Plan of the Standing Committee of the 14th National People's Congress" was announced, including a total of 130 items and clarifying three types of legislative items. Among them, the Financial Stability Law is classified as a first-category item, that is, a draft law that is relatively mature and will be submitted for consideration during the term of office, which has been submitted for consideration.
Screenshot of the official WeChat of the National People's Congress.
The interest rate on existing mortgages has been lowered, and the wave of prepayment has eased
Since September 25, banks have officially begun to reduce the interest rate of commercial personal housing loans for the first housing in stock. Residents can apply for a reduction in mortgage interest rates to reduce the pressure on monthly payments. After the interest rate of the existing mortgage was lowered, the prepayment tide eased.
**Financial Work Conference Held: Accelerate the Construction of a Financial Power
From October 30th to 31st, the ** Financial Work Conference was held in Beijing. The meeting emphasized that "finance is the blood of the national economy and an important part of the country's core competitiveness, and it is necessary to accelerate the construction of a financial power". The meeting pointed out that it is necessary to do a good job in science and technology finance, green finance, inclusive finance, pension finance, and digital finance.
Measures for the Management of Capital of Commercial Banks were promulgated
On November 1, the State Administration of Financial Supervision (SAMR) issued the official draft of the Measures for the Management of Capital of Commercial Banks, which is a systematic overhaul after a decade. The Capital Measures will be implemented from 1 January 2024 in five aspects: building a differentiated capital regulatory system, comprehensively revising the rules for measuring risk-weighted assets, and ensuring the applicability and prudence of risk weights.
Screenshot of the official website of China**.com.
A number of banks have adjusted their services** and reduced fees and profits
In order to guide the banking industry to support the development of the real economy and improve the people's financial consumption experience, the China Banking Association issued the "Proposal on Adjusting Some Bank Services** to Improve Service Quality and Efficiency" in October this year. Subsequently, six large state-owned banks took the lead in responding and clarified specific measures to adjust some services** at the end of October. In November, a number of commercial banks announced that they would reduce or exempt some service fees.
The China Financial Stability Report (2023) was released
On December 22, the People's Bank of China released the China Financial Stability Report (2023) (hereinafter referred to as the "Report"), which comprehensively assessed the soundness of China's financial system in 2022. The report publishes the latest central bank financial institution rating results and stress tests in the banking sector. Judging from the results, the overall operation of China's banking institutions is stable, and the risks are generally controllable.
Screenshot of the official website of the People's Bank of China.
The RMB exchange rate fluctuates in both directions
In 2023, the RMB exchange rate fluctuated greatly, and experienced a long period of depreciation during the year, with the onshore and offshore exchange rates once falling below 735, the lowest level in nearly 15 years. Since late November, the RMB exchange rate has gradually stabilized and rebounded. On the whole, in 2023, the two-way fluctuation of the RMB exchange rate will be obvious, showing the characteristics of first rising, then depreciating and then rising.
Source** China** Network, Caijing.com, National Business Daily, Financial Times, Sina Finance, Beijing News, etc.
Disclaimer: This inventory article is only a word, not authoritative, if there are omissions and deficiencies, please correct.