China-Singapore Jingwei, December 22 (Wei Wei, intern Zhang Liu) On the 22nd, the five major banks of Industrial and Commercial Bank of China, China Construction Bank, Agricultural Bank of China, Bank of China, and Bank of Communications adjusted the listed interest rates of deposits, of which the listed interest rates of 3-year and 5-year time deposits were reduced by 025 percentage points.
Compared with large banks, the deposit interest rates of some small and medium-sized banks have recently risen against the trend. The annual interest rate of 2-year lump sum deposit is 165% and 4% calculation, the difference between the interest of 1 million yuan can reach 470,000 yuan. What is the reason why the big line is down and the small line is up?
The 3-year deposit rate enters the prefix "1".
Specifically, the five major banks have adjusted at the same pace, and the listed interest rates of 3-month, 6-month and one-year time deposits have been lowered by 01 percentage point, the two-year fixed deposit interest rate was lowered by 02 percentage points, three-year and five-year time deposit interest rates reduced by 025 percentage points.
After the adjustment, the listed interest rates of 3-month, 6-month, 1-year, 2-year, 3-year and 5-year time deposits will be reduced to95% and 20%。
This is also the third time that a large bank has lowered the listed deposit rate during the year. In June and September this year, the major state-owned banks collectively lowered the interest rates on deposits. Taking the 3-year fixed deposit interest rate as an example, the annual interest rate at the beginning of this year was 26%, a total decrease of 065 percentage points, that is, 1 million yuan deposit for 3 years interest is less than 1950,000 yuan.
Not only state-owned banks, but also China Merchants Bank, a joint-stock bank, have also taken action to adjust interest rates. On December 22, China Merchants Bank put out a new listed interest rate, and the reduction and adjusted interest rate level are also consistent with those of state-owned banks, and the listed interest rates of 1-year, 2-year, 3-year and 5-year lump sum deposit and withdrawal time deposits are0%。
It is expected that in the next step, joint-stock banks and other small and medium-sized banks will follow suit to adjust deposit rates. However, due to different banks' deposit pricing strategies and asset-liability management, there may be certain differences in the timing, rhythm and magnitude of deposit interest rate adjustments. Dong Ximiao, chief researcher of Zhaolian Financial, said to Sino-Singapore Jingwei.
As for the reasons for adjusting the listed interest rate of deposits, ICBC said that in order to further play the role of the market-oriented adjustment mechanism of deposit interest rates, continue to release the first-class interest rate reform and transmission effect of the loan market, and improve the sustainability of serving the real economy.
In order to maintain the basic stability of interest margins and reasonable profit growth, and enhance the sustainability of serving the real economy and the soundness of high-quality development, it has become an inevitable choice for banks to reduce the cost of debt by lowering deposit interest rates. Dong Ximiao said.
Some small and medium-sized banks have deposit interest rates of up to 6%.
While major banks cut interest rates, some small and medium-sized banks bucked the trend and raised interest rates at the end of the year.
On December 21, it was reported that the interest rate of "special deposits" launched by Anhui Xin'an Bank reached up to 6%. In this regard, Zhongxin Jingwei consulted the customer service of Xin'an Bank as a customer**, and the staff said, "The customer service has not received the relevant notice, and the 3-year and 5-year deposit interest rates are 3."05%。The customer service further said that the bank suspended the opening of accounts in other places, and the online opening of the second type of account needs to meet the ID number starting with "34" in Anhui Province, and must be located in Hefei, Anhui Province to open an account.
However, a screenshot of the Xin'an Bank applet provided to reporters by a depositor shows that the bank's special deposit product has a one-year lump sum deposit and lump sum interest rate of 39%, 2-year lump sum deposit and withdrawal interest rate of 4%.
According to ** report, Henan Gushi Rural Commercial Bank announced on December 1 that since December 1, the bank will implement new interest rates for new account opening individuals with a minimum deposit amount of more than 10,000 yuan, and the interest rates on 3-month, 6-month, 1-year, 2-year, and 3-year time deposits will be determined by35% up to .40%, 5-year fixed deposit interest rate unchanged.
Henan Huaibin Rural Commercial Bank announced on December 12 that it will raise the interest rate of the whole deposit and withdrawal of the whole deposit for newly opened individuals in stages from December 12, and the minimum deposit amount is greater than or equal to 10,000 yuan.
On the 22nd, Zhongxin Jingwei called a branch of Henan Huaibin Rural Commercial Bank as a customer**, and a staff member said that the above activities are still in progress, and the interest rate on personal lump sum deposits for 1 year, 2 years, and 3 years has been raised to40%。"Because of the 'good start' (event), we are currently announcing the event until March 31 next year. ”
The customer service staff of Henan Rural Credit Cooperatives also said that after the feedback of Gushi Rural Commercial Bank, due to the approaching New Year, activities were carried out and the deposit interest rate was raised.
In Dong Ximiao's view, at present, the deposit interest rate of a small number of banks is against the trend, which is a measure in the marketing activities of the "good start" peak season, which is a phased and seasonal phenomenon, and is a means of the bank. Most of the banks that have raised deposit interest rates are small and medium-sized banks, which is not universal.
Liu Yinping, an analyst at the Rong 360 Digital Technology Research Institute, told Zhongxin Jingwei that small and medium-sized banks are under greater pressure to collect deposits, and the stability of deposits is not as stable as that of large banks.
Yang Haiping, a researcher at the Research Institute of the University of Finance and Economics and general manager of the Research and Development Department of the Bank of Inner Mongolia, believes that considering that the deposit interest rate is still on a downward trend, some small and medium-sized banks have raised their deposits, which is indeed a reflection of the marketization of interest rates, but these banks also need to focus on the fine management of interest payment costs and find an asset-liability allocation strategy that meets their own reality through in-depth research.
The probability of LPR downgrade increases.
On December 20, the People's Bank of China authorized the National Interbank Lending Center to announce the new loan market ** interest rate (LPR), of which the one-year LPR is 345%, and LPR for more than 5 years is 42%。Among them, the LPR with a maturity of more than 5 years linked to the mortgage interest rate has remained unchanged for 6 consecutive months. Will the LPR** be lowered in 2024?
Yang Haiping pointed out that the main consideration of large banks in lowering deposit interest rates is to reserve space for loan interest rate reductions and even LPR reductions on the premise of maintaining the basic stability of net interest margins, and implement the monetary policy guidance of "guiding the financing cost of the real economy to decline steadily". After this round of deposit rate cuts, the probability of LPR cuts has increased.
According to an analysis by CITIC**, the 5-year LPR has remained at 4 since June2%, after which the MLF interest rate cut in August, the central bank cut the reserve requirement ratio in September, and the state-owned banks collectively lowered the deposit listed interest rate in September, ** still held still. Considering the cumulative impact of the above events, and superimposed on the adjustment of the deposit rate, the possibility of the downside of long-end LPR** has increased, but the extent of the adjustment may be relatively limited.
CITIC believes that in the future, there is still room for afterburner in cost reduction and credit easing tools, combined with the monetary policy tone of "flexible, moderate, precise and effective" of the ** Economic Work Conference, and does not rule out the possibility of further MLF interest rate cuts in the first half of next year to guide LPR ** downgrade.