A reporter from China Securities Journal recently learned from research that many banks have lowered the interest rate of three-year large-denomination certificates of deposit, ranging from 10 to 45 BPs.
Some bank employees also revealed that the interest rate of their own bank's large-denomination certificates of deposit may be cut by 10 BPs next week.
Recently, the market interest rate pricing self-discipline mechanism held a meeting to encourage some small and medium-sized banks to lower the floating ceiling of deposit interest rates by about 10 BP.
Industry insiders expect more banks to follow up and adjust in the future.
The interest rate on large-denomination certificates of deposit is lowered
The China Merchants Bank App shows that the current interest rate of the bank's three-year large-denomination certificate of deposit is 2.9%, compared with the previous interest rate of 3.35%, a decrease of 45 BP.
In addition, the interest rate of Minsheng Bank's three-year large-denomination certificate of deposit is 3.4%, compared with 3.55% previously.
It is worth mentioning that the interest rate level of 3.4% is already lower than the interest rate level of the bank's 3-year time deposit of 3.5%.
An employee of a branch of Minsheng Bank in Xicheng District, Beijing said that this may be related to the transferable function of large-denomination certificates of deposit. The transfer can not only meet the liquidity needs of customers, but also enable customers to enjoy higher interest rates on their funds, so the bank also has "confidence." "Reduce interest rates on large-denomination certificates of deposit.
There are also many banks' large-denomination certificates of deposit interest rates that may drop.
"Currently, the interest rate of our bank's three-year large-denomination certificate of deposit is 3.55%, and it may drop to 3.45% next week." said a person from a branch of Industrial Bank in Beijing Xicheng District.
An employee of a branch in the Haidian District of Bank of Nanjing in Beijing said that the bank's two-year large-denomination certificate of deposit interest rate may also be lowered next week, from 2.75% to 2.65%, and the one-year and three-year terms are expected to remain unchanged.
The reporter also learned that the current sales of large-denomination certificates of deposit in many banks are relatively hot, and the quota is tight.
"Every month is approaching the end of the month, and the amount of large-denomination certificates of deposit will be relatively tight. If customers want to buy, they need to apply to the account manager separately or buy them regularly on the mobile app." A person from a branch of Agricultural Bank of China in Beijing Xicheng District said.
Help reduce the cost of credit financing
As for why the interest rate of large-denomination certificates of deposit has been lowered, industry insiders analyzed that the most important thing is to provide more low-cost financial support for the development of the real economy.
Looking ahead, the decline in interest rates is a major trend, and it is expected that more banks will cut deposit interest rates in the future.
Previously, the market interest rate pricing self-discipline mechanism held a meeting to encourage small and medium-sized banks to lower the floating ceiling of deposit interest rates by about 10 BP.
The reporter learned from a small and medium-sized bank that the bank has formulated an adjustment plan at the first time, and the deposit interest rate will definitely decrease in the future, and it is expected that the industry will act in the same way.
"The current market interest rate is low. If banks need to absorb funds, they can also do so by issuing interbank certificates of deposit. There are too many high-cost funds similar to large-denomination certificates of deposit, which is not a good thing for banks." China Merchants Bank Beijing According to the analysis of relevant persons in the branch, in addition to the encouragement of the regulatory authorities, the current commercial banks themselves also have the motivation to reduce the interest rate level of large-denomination certificates of deposit.
However, the pace of adjustment is expected to vary from bank to bank.
A relevant person from the board office of a small and medium-sized bank said that, unlike the loan market, which emphasizes comprehensive services, the deposit market is almost a market that relies entirely on interest rates to win, and the competition is very fierce. Downgrade.
Lowering the deposit rate ceiling is also conducive to maintaining the level of interest margins for commercial banks.
"The optimization effect of the self-discipline cap on deposit interest rates will be realized mainly this year, and this policy will benefit greatly. At the same time, more than 500 billion yuan of three-year deposits will mature this year, and the interest rate of these deposits is generally above 3.8%. ' industry insiders told reporters.