Core Viewpoint - The current low interest rate environment has led to a significant reduction in the availability and attractiveness of large time deposits, with many banks discontinuing long-term products and offering lower rates compared to previous years [1][3][4]. Group 1: Interest Rate Trends - The interest rate for large time deposits has dropped significantly, with major banks now offering rates around 1.55% for 3-year deposits, compared to previous rates of 3.35% [2][3]. - In 2022, the average interest rate for large time deposits was above 3%, but this has since decreased, leading to a scarcity of high-yield products [7][8]. Group 2: Bank Strategies - Major state-owned banks are tightening their offerings of long-term large time deposits as part of a strategy to manage liabilities in a low-interest environment [5][6]. - Many banks, including both state-owned and joint-stock banks, have removed 5-year large time deposit products from their offerings, reflecting a broader trend in the banking sector [4][5]. Group 3: Customer Behavior - Customers are increasingly seeking alternative investment options, such as gold and low-risk financial products, due to the declining attractiveness of traditional large time deposits [1][9]. - There is a noticeable shift among depositors, with some opting for a mix of traditional deposits and riskier investments, indicating a diversification of investment strategies [9][10]. Group 4: Marketing and Competition - Smaller banks are actively marketing their products to attract customers who are looking for better returns, often through social media and targeted promotions [6][8]. - Some banks are offering promotional rates and incentives to new customers, highlighting a competitive landscape as larger banks reduce their offerings [8][10].

Core Viewpoint - The latest issuance of 3-year large-denomination certificates of deposit (CDs) by Industrial and Commercial Bank of China (ICBC) has seen the minimum deposit requirement raised to 1 million yuan, with an interest rate of 1.55%, which is currently sold out [1][4]. Group 1: Large-Denomination CDs - The interest rate for the 3-year large-denomination CDs is set at 1.55% with a minimum deposit of 1 million yuan [2][3]. - Previously, ICBC offered a 3-year large-denomination CD with a minimum deposit of 200,000 yuan, also at an interest rate of 1.55% [1][4]. - Other banks, including China Construction Bank, Agricultural Bank of China, and Bank of China, are also offering 3-year large-denomination CDs with a minimum deposit of 200,000 yuan at the same interest rate of 1.55% [4]. Group 2: Market Dynamics and Strategies - The increase in the minimum deposit requirement for large-denomination CDs without a corresponding increase in interest rates reflects banks' proactive liability management strategies in a low-interest-rate environment [4]. - By raising the minimum deposit amount, banks are effectively tightening the supply of large-denomination CDs, aiming to optimize their liability structure and reduce reliance on high-cost deposits [4]. - The main advantages of large-denomination CDs over regular deposits, despite the current interest rate trends, include higher liquidity and flexibility, such as transferability and collateral options, making them suitable for large depositors with short-term capital needs [4].

Core Viewpoint - The latest issuance of 3-year large-denomination certificates of deposit (CDs) by Industrial and Commercial Bank of China (ICBC) has seen the minimum deposit requirement raised to 1 million yuan, with an interest rate of 1.55%, which is currently sold out [1][5]. Group 1: Large-Denomination CDs - The current 3-year large-denomination CDs from ICBC have a minimum deposit of 1 million yuan and an interest rate of 1.55% [1][2]. - Previously, ICBC offered a 3-year large-denomination CD with a minimum deposit of 200,000 yuan, also at an interest rate of 1.55% [1][2]. - Other banks, such as China Construction Bank, Agricultural Bank of China, and Bank of China, also offer 3-year large-denomination CDs with a minimum deposit of 200,000 yuan at the same interest rate of 1.55% [5]. Group 2: Market Dynamics and Strategies - The increase in the minimum deposit requirement for large-denomination CDs without a corresponding increase in interest rates reflects banks' proactive liability management strategies in a low-interest-rate environment [5][6]. - By raising the minimum deposit amount, banks are effectively tightening the supply of large-denomination CDs, aiming to optimize their liability structure and reduce reliance on high-cost deposits [5]. - The main advantages of large-denomination CDs over regular deposits include higher liquidity and flexibility, such as transfer and pledge capabilities, making them suitable for large depositors with short-term funding needs [6].