美联储重启降息后，实探美元存款利率调整

Core Viewpoint - The Federal Reserve has restarted interest rate cuts after nine months, prompting a reevaluation of dollar deposit rates across various banks, with foreign banks adjusting their rates more frequently than domestic banks [1][12]. Group 1: Foreign Bank Adjustments - Several foreign banks have lowered their dollar deposit rates, with HSBC adjusting rates on September 22, 2023, for new funds, with 1-month and 6-month rates down by 10 and 20 basis points respectively [2][3]. - HSBC's new rates for new funds starting from $20,000 are 1-month at 3.5%, 3-month at 3.5%, 6-month at 3.5%, and 12-month at 3.05% [2][3]. - DBS Bank has also reduced its dollar deposit rates twice in September, with current rates for 1-month at 3.1% and 1-year at 2.9% [4][6]. Group 2: Domestic Bank Stability - Most domestic banks have not adjusted their dollar deposit rates, with major state-owned banks offering a maximum rate of 2.8% for 1-year deposits [8][10]. - The rates for major domestic banks like Bank of Communications and China Construction Bank are consistent, with 1-month at 2.2% and 3-month at 2.3% [10][11]. - Some smaller banks, such as Beijing Bank and Blue Ocean Bank, offer more attractive rates, with Blue Ocean Bank providing 3-month rates at 3.8% [11]. Group 3: Market Dynamics and Future Expectations - The adjustments in deposit rates are influenced by various factors including the Federal Reserve's policies, market liquidity, and competitive positioning among banks [12]. - Analysts expect further rate cuts from the Federal Reserve, which may lead to additional adjustments in bank deposit rates [12][13]. - The current dollar deposit rates remain higher than corresponding RMB deposit rates, attracting more savers to dollar deposits [13].