【银行观察】银行负债管理精细化迫在眉睫

Core Viewpoint - Since 2022, commercial banks have implemented various measures to reduce liability costs, including multiple rounds of deposit rate cuts and the removal of high-interest deposit products, leading to a situation where short-term deposit rates exceed long-term rates, known as "inverted deposit rates" [1][2] Group 1: Deposit Rate Adjustments - Commercial banks have lowered deposit rates in response to market conditions, with some banks removing long-term deposit products to stabilize net interest margins [1][2] - The net interest margin for commercial banks has decreased significantly, with the latest figure reported at 1.42% in Q3 of this year, indicating a low level historically [1][2] Group 2: Asset and Liability Management - To stabilize net interest margins, banks are focusing on both increasing asset yields and reducing liability costs, with a particular emphasis on optimizing deposit structures [2] - The reliance on interest margin income is high within the banking sector, making it crucial for banks to maintain reasonable net interest margins to support income and profit stability [2] Group 3: Impact on Residents - The reduction in deposit rates and the withdrawal of higher-yield products have raised concerns among residents, particularly older individuals who rely heavily on bank deposits for their savings [3] - Residents are encouraged to diversify their asset allocation by considering government bonds or low-risk bank wealth management products to balance risk and return [3] Group 4: Future Outlook - The downward pressure on net interest margins is expected to continue, with a high probability of further deposit rate reductions, which is necessary for both the banks' operational needs and the broader economic context [4] - Effective liability management by banks and proactive asset allocation by residents are essential for reducing financing costs and promoting a healthy economic cycle [4]