继下架中长期限大额存单后，部分中小银行下架五年期存款产品

Core Viewpoint - Recent adjustments by banks to their deposit products, including the cancellation of long-term fixed deposits, reflect a trend towards optimizing liability structures and reducing funding costs amid ongoing pressure on net interest margins [1][3][4]. Group 1: Changes in Deposit Products - Some small and medium-sized banks have begun to adjust the issuance scale of three-year and five-year fixed deposits, with some banks even canceling five-year fixed deposit products entirely [1][2]. - For instance, the Inner Mongolia Tuyuqi Mengyin Village Bank announced the cancellation of its five-year fixed deposit product, which previously had an interest rate of 1.9%, lower than its three-year deposit rate [1]. - Other banks, such as Hubei Jingmen Rural Commercial Bank, have also reduced their fixed deposit rates and removed five-year options from their product offerings [1]. Group 2: Market Trends and Implications - The adjustments in deposit products are primarily seen in small and medium-sized banks, while large state-owned and joint-stock banks continue to offer five-year fixed deposits [2]. - The yield advantage of medium- to long-term deposit products is diminishing due to multiple rate adjustments, leading to a shift in banks' strategies [2][3]. - Experts suggest that reducing the proportion of high-cost long-term deposits and increasing short-term deposits or diversifying funding sources is crucial for banks to optimize their liability structures [3]. Group 3: Future Outlook - Industry experts predict that more banks may adopt similar measures to phase out high-cost deposit products in response to interest margin pressures and policy guidance [4]. - The People's Bank of China plans to enhance its interest rate adjustment framework to lower banks' funding costs and promote a decrease in overall financing costs in society [5]. - It is anticipated that deposit rates, particularly for medium- to long-term products, will likely decline further, prompting banks to focus on both increasing non-interest income and managing their asset and liability sides effectively [5].