Core Viewpoint - Several banks, including private banks, are discontinuing long-term deposit products and adjusting interest rates to manage funding costs in response to narrowing net interest margins [1][4]. Group 1: Discontinuation of Long-Term Deposits - Meizhou Commercial Bank announced the cessation of automatic renewal services for five-year term deposits due to policy adjustments, indicating a broader trend among banks [1][2]. - Many private banks have removed long-term deposit products, with some reporting interest rate inversions where five-year deposit rates are lower than three-year rates [2][3]. Group 2: Interest Rate Adjustments - Current interest rates for various term deposits at banks like Anhui Xin'an Bank are as follows: 1.45% for three months, 1.65% for six months, 1.85% for one year, 2.35% for two years, and 2.20% for three years, with a minimum deposit of 50 yuan [2]. - Some banks, such as Industrial and Commercial Bank of China, have also stopped offering five-year large denomination certificates of deposit (CDs), reflecting a shift in product availability [3]. Group 3: Cost Management Strategies - The primary reason for banks discontinuing long-term deposit products is to actively reduce funding costs in light of narrowing net interest margins [4][5]. - Bank executives have indicated a focus on lowering deposit rates and managing high-cost deposits as part of their strategy to stabilize net interest margins [4].