Core Viewpoint - The current trend in the banking sector shows a significant reduction in the availability of long-term large-denomination certificates of deposit (CDs), particularly the 5-year term, as major banks have ceased offering these products, indicating a shift towards shorter-term offerings and potential implications for capital market funding [9][10][11]. Group 1: Current Offerings - Industrial and Commercial Bank of China (ICBC) is currently offering a 3-year large-denomination CD with a minimum deposit of 1 million yuan and an annual interest rate of 1.55% [1][2]. - Other banks, including Agricultural Bank of China and Bank of China, have also reduced their offerings, with 3-year CDs at similar rates and minimum deposits starting from 20,000 yuan [7][9]. - The interest rates for 1-year and 2-year CDs are set at 1.20%, reflecting a general trend across major banks [9][10]. Group 2: Market Trends - Major state-owned banks have completely withdrawn 5-year large-denomination CDs from their product offerings, with a noticeable shift towards shorter-term products [9][10]. - This trend is not isolated to one bank; it is observed across several major banks, indicating a broader market strategy to manage interest rate pressures and potentially redirect funds towards capital markets [10][11]. - Analysts suggest that the reduction in deposit attractiveness may lead to a "deposit migration" effect, where funds move from traditional banking products to stocks, bonds, and other investment vehicles, potentially increasing liquidity in capital markets [10][11].

Core Viewpoint - The major state-owned banks in China have ceased offering 5-year large denomination certificates of deposit (CDs), indicating a trend towards shorter-term deposit products in the market [6][17][19] Group 1: Current Offerings - Industrial and Commercial Bank of China (ICBC) is currently offering a 3-year large denomination CD with a minimum deposit of 1 million yuan and an interest rate of 1.55% [1][10] - The latest 3-year fixed deposit product from ICBC has a maximum interest rate of 1.55%, with a minimum deposit requirement of only 50 yuan [1][10] - Other banks, including Agricultural Bank of China, Bank of China, and China Construction Bank, have also removed 5-year products from their offerings, focusing instead on shorter-term options [6][17] Group 2: Market Trends - The exit of 5-year large denomination CDs is not a sudden change; many banks had already phased out these products in the previous year [19] - The current market for large denomination CDs generally has a minimum deposit threshold of around 200,000 yuan [4][14] - Analysts suggest that the reduction in deposit rates may lead to a "deposit migration" effect, where funds shift from banks to capital markets seeking higher returns [7][18]

Core Viewpoint - The current trend in the banking sector shows a significant reduction in the availability of long-term large-denomination certificates of deposit (CDs), with major banks like ICBC, ABC, and BOC ceasing to offer 5-year products, indicating a shift towards shorter-term offerings and potential impacts on market liquidity and investment strategies [9][10]. Group 1: Current Offerings - ICBC is currently offering a 3-year large-denomination CD with a minimum deposit of 1 million yuan and an interest rate of 1.55% [1][2]. - The latest 3-year fixed deposit products from ICBC have an interest rate of up to 1.55%, with a minimum deposit requirement of only 50 yuan [1]. - Other banks have similar offerings, with 3-year CDs at 1.55% and 1-year and 2-year products at 1.20% [9]. Group 2: Market Trends - Major state-owned banks have completely stopped offering 5-year large-denomination CDs, with a noticeable trend towards shorter-term products across the banking sector [9]. - The exit of 5-year CDs is seen as a response to pressure on banks' interest margins, which may influence future loan rate adjustments and redirect funds towards capital markets [10]. - Analysts suggest that the reduction in deposit rates could lead to a "deposit migration" effect, where funds move from banks to higher-yielding investments in stocks, bonds, and funds, potentially benefiting the direct financing market [10].

Group 1 - The Industrial and Commercial Bank of China (ICBC) is currently offering the fourth phase of a three-year personal large-denomination certificate of deposit (CD) with a minimum deposit requirement of 1 million yuan and an annual interest rate of 1.55% [1][2] - The latest three-year fixed deposit product from ICBC has an annual interest rate that can reach up to 1.55%, with a much lower minimum deposit requirement of only 50 yuan [1][2] Group 2 - The interest rates for various personal large-denomination CDs include: 1.55% for a three-year CD with a minimum deposit of 1 million yuan, and 1.20% for a one-year CD with a minimum deposit of 20,000 yuan [2][5] - Other offerings include a six-month CD at 1.10% with a minimum deposit of 20,000 yuan, and a five-year personal pension exclusive deposit with an interest rate of 1.55% [5][6]