继国有六大行全面停售5年期大额存单后，大额存单的起存门槛持续走高。 存款短期化成趋势 大额存单是银行负债业务的核心工具之一，目前多数银行的大额存单起步门槛仍维持在20万元。而部分 银行缩短大额存单发售期限、抬高购买门槛，也折射出了银行业转型发展的方向。薛洪言就此表示，第 一，存款短期化趋势明确，银行主动收缩长期限负债，以匹配资产端结构、管理利率风险；第二，客户 经营进入精细化阶段，从统一门槛到多级设置，意味着银行从规模扩张、同质化竞争，加速转向以客户 为中心的综合金融服务模式。 杨海平认为，在资产负债策略精细化的背景下，银行对负债类产品的额度、投放规则等管控更趋严格， 本质是加强负债管理、引导客户行为，从"敞开吸纳存款"转向"主动筛选客户"。 薛洪言认为，此次高门槛举措预计会产生传导效应，但路径将分化。大型银行因相似的负债成本压力， 大概率会跟进客户分层策略；而中小银行或采取差异化竞争，部分银行通过略高利率吸引客群，也有部 分银行聚焦本地市场提供特色产品，形成错位竞争格局。 薛洪言建议，银行需推进系统性转型，构建灵活精细的负债管理体系，实现期限、门槛、定价的差异 化；深化客户分层经营，围绕不同客群需求提供综合 ...

Core Viewpoint - The recent increase in the minimum deposit threshold for large certificates of deposit (CDs) by major state-owned banks reflects their need to manage interest costs more effectively amid ongoing pressure on net interest margins [1][2]. Group 1: Changes in Deposit Thresholds - Some major state-owned banks have raised the minimum deposit for 3-year large CDs to as high as 1 million or 5 million yuan, while maintaining the same interest rate of 1.55% for different thresholds [2][3]. - The increase in minimum deposit amounts is a strategy to tighten the supply of high-cost liabilities and optimize the overall liability structure [2][3]. Group 2: Trends in Deposit Management - There is a clear trend towards shorter-term deposits, with banks actively reducing long-term liabilities to better match their asset structures and manage interest rate risks [3]. - The shift from uniform thresholds to multi-tiered settings indicates a transition towards a customer-centric financial service model, moving away from scale expansion and homogeneous competition [3]. Group 3: Recommendations for Banks - Banks are advised to develop a flexible and refined liability management system, focusing on differentiated terms, thresholds, and pricing [4]. - There is a need to deepen customer segmentation and provide comprehensive financial services tailored to different customer needs [4].