Core Viewpoint - Recent adjustments in the banking precious metals business indicate a shift towards enhanced risk control and cost management, with banks focusing on cleaning up inactive accounts and promoting standardized products [1][2][4]. Group 1: Adjustments in Banking Precious Metals Business - Several banks, including Industrial and Commercial Bank of China (ICBC) and China Construction Bank, have announced the cleaning of long-term inactive accounts in personal precious metals business at the Shanghai Gold Exchange [1][3]. - ICBC will transfer the balances of inactive margin accounts to settlement accounts and close related business functions starting December 19, 2025 [2]. - Other banks, such as China CITIC Bank and Industrial Bank, have also announced similar measures to clean up inactive accounts or halt their personal precious metals business [3]. Group 2: Risk Control and Cost Management - Banks are enhancing risk control and liquidity management by clearing high-risk, long-idle deferred delivery accounts and promoting low-risk standardized products like accumulated gold [4]. - Experts predict that more small and medium-sized banks will follow suit, gradually reducing their proprietary gold business and shifting towards agency sales and standardized products [4]. Group 3: Marketing of Standardized Products - As the 2026 Spring Festival approaches, banks are ramping up marketing efforts for gold products, offering promotional activities for physical gold and accumulated gold [5][6]. - ICBC has launched a promotional campaign reducing the handling fee for accumulated gold from 0.5% to 0.2% [5]. - Other banks, such as China Merchants Bank, are also promoting gold products with significant returns, while advising investors to be cautious of market volatility [6].

Core Viewpoint - The adjustment by Industrial and Commercial Bank of China (ICBC) to close "three-no" customer gold trading functions reflects a tightening trend in the gold trading business among major banks due to market risk volatility, tax compliance pressures, and changes in investor demand structure [1][2]. Group 1: ICBC's Adjustments - ICBC announced the closure of gold trading functions for customers with no positions, no inventory, and no debts but still holding funds in their accounts, effective December 19 [1]. - Customers are required to withdraw their funds, and the bank will terminate related business agreements, while existing positions will not be affected [1]. - This move aims to enhance account management efficiency and reduce the risk of idle customer funds, aligning with regulatory requirements for fund safety and transparency [2]. Group 2: Industry-Wide Trends - Other banks, including Everbright Bank, China Construction Bank, and Postal Savings Bank, have also taken similar actions to tighten personal gold trading services [2]. - Postal Savings Bank announced the cessation of related services, requiring customers to close positions by October 31, while Citic Bank and Ningbo Bank have also initiated account clean-ups for inactive customers [2]. - The tightening of these services is attributed to the high risk and volatility in the gold market, as well as the low entry barriers for leveraged products, making it difficult for banks to verify customer investment capabilities [2]. Group 3: Brand Gold Sales Exit - Following the implementation of new gold tax regulations, Hengfeng Bank announced it will cease brand gold sales starting December 22, marking the first bank to exit this business since the new policy [3]. - The new tax regulations have increased operational complexity and risk for banks, prompting some to withdraw from brand gold sales due to compliance pressures [3]. - Despite significant price increases in precious metals this year, the volatility has led to a decline in brand gold sales, with expectations that more banks may follow suit in exiting this market segment [3].