Core Viewpoint - The trend of large-denomination certificates of deposit (CDs) with a five-year term is declining as banks adjust their strategies to manage interest margin pressures due to falling asset yields and high funding costs [1][2][3]. Group 1: Changes in Large-Denomination CDs - Many banks have reduced the maximum term for large-denomination CDs to two years, reflecting a broader trend of shortening deposit terms [2][3]. - The interest rates for three-year CDs have dropped significantly, with rates now in the range of 1.55% to 1.75%, down approximately 80 basis points compared to the same period in 2024 [3][4]. - The withdrawal of five-year CDs is part of a strategy to optimize the liability structure and reduce funding costs, as these long-term products are seen as high-cost liabilities [2][4]. Group 2: Impact on Banking Strategies - Banks are actively promoting short-term and structured deposit products to maintain flexibility in their funding strategies and to attract customers away from high-cost long-term deposits [4][5]. - The narrowing of net interest margins has prompted banks to lower deposit rates across various terms, indicating a strategic shift to manage costs effectively [4][5]. - Regulatory guidance is also influencing banks to adjust their liability structures, with a focus on reducing high-interest long-term deposit products to support economic financing [3][4]. Group 3: Investor Strategies - Investors are advised to reconsider their asset allocation strategies in light of the changing landscape of deposit products, with recommendations to diversify into short-term deposits, government bonds, and structured financial products [5][6]. - The current environment suggests that over-reliance on traditional deposits may lead to returns that lag behind inflation, prompting a need for a more balanced investment approach [5][6]. - For investors with higher risk tolerance, there is an encouragement to explore equity assets alongside fixed-income products to enhance long-term returns [5][6].
五年期大额存单难觅 投资者该怎么选？
Zhong Guo Jing Ying Bao·2025-06-10 07:37