已有部分银行大额存单利率降至“1字头”

Core Viewpoint - The recent trend of banks lowering interest rates on large-denomination certificates of deposit (CDs) reflects a strategy to optimize their liability structure and stabilize operations amid narrowing net interest margins [1][4]. Group 1: Interest Rate Adjustments - Many major state-owned banks have reduced their large-denomination CD rates below 2%, with rates for 1-month and 3-month CDs dropping to 0.9%, and longer-term rates for 6-month, 1-year, 2-year, and 3-year CDs falling to 1.1%, 1.2%, 1.2%, and 1.55% respectively [2]. - Smaller banks are also adjusting their rates, with some approaching the 1% mark; for instance, Zhongyuan Bank's 1-month and 3-month rates are at 1.4%, and the 1-year rate is at 1.7% [3]. Group 2: Factors Influencing Rate Changes - The decline in large-denomination CD rates is driven by three main factors: the transmission mechanism of policies, the increasing trend of fixed-term deposits, and the pressure on banks' net interest margins [3]. - The People's Bank of China has influenced market rates through measures like reserve requirement ratio cuts and reverse repo rate reductions, prompting banks to lower deposit rates to maintain net interest margin balance [3]. Group 3: Implications for the Banking Sector - The adjustment in large-denomination CD rates directly impacts banks' funding costs and profitability, allowing them to stabilize net interest margins while reducing funding costs for lending to the real economy [4]. - The decrease in deposit yields may lead to a shift in funds towards wealth management products, promoting diversification in asset allocation among residents and expanding the wealth management market [4]. Group 4: Strategic Recommendations for Banks - Banks are encouraged to innovate financial product offerings, optimize liability structures, accelerate digital transformation, and implement differentiated competition strategies to adapt to the low-interest-rate environment [5]. - The outlook suggests that large-denomination CD rates will likely remain low in the short term, with future adjustments expected to be gradual [5].