Core Viewpoint - The trend of lowering deposit interest rates among local small and medium-sized banks has been expanding since September, with significant adjustments impacting various deposit products [1] Group 1: Deposit Rate Adjustments - Several banks, including Henan Luoyang Rural Commercial Bank and Luoning Rural Commercial Bank, announced reductions in RMB deposit rates on September 25, with the maximum decrease reaching 35 basis points [1] - The adjustments cover a range of deposit products, including demand deposits, notice deposits, and fixed-term deposits [1] Group 2: Retail Deposit Trends - There has been a noticeable outflow of retail deposits recently, prompting banks to focus on wealth management strategies to mitigate the negative impact of this outflow [1] - Increasing the management of client asset scale (AUM) has become a primary strategy for many banks to address the challenges posed by declining deposits [1] Group 3: Investment Shifts - The attractive performance of cash management and fixed-income bank wealth management products, with annual yields close to 2% to 3%, has led many bank customers to change their investment strategies [1] - Customers are increasingly purchasing mixed and equity fund products as a result of the "price comparison effect" [1]