Bank deposit interest rate will rise 2018 latest Bank of China RMB deposit interest rate table
Reform of interest rate marketization and low-key promotion of interest rate increase of bank certificates of deposit
Sihainet: the interest rate of bank's certificates of deposit has become a hot topic in the market recently. According to the securities times, the upper limit of interest rates on large certificates of deposit of state-owned large banks, joint stock banks, urban commercial banks and agricultural commercial banks has been raised from 1.4 times, 1.42 times and 1.45 times to 1.5 times, 1.52 times and 1.55 times respectively (that is, 55% up).
The increase of the interest rate of large amount certificates of deposit is directly related to the meeting held by members of the self-discipline mechanism of market interest rate pricing in the middle of April. The meeting discussed the matter of liberating the self-discipline upper limit of the deposit interest rate of commercial banks, which is considered by the market as the further reform of interest rate marketization.
Although the listing interest rate of ordinary deposits did not move, some banks quickly issued certificates of deposit with different maturities and generally increased the interest rate of certificates of deposit. Among them, the state-owned banks are the fastest to respond, the stock banks and city commercial banks have a wide range of banks to raise large amount certificates of deposit, and the agricultural commercial banks have the highest floating range of large amount certificates of deposit interest rate.
Large amount deposit receipt wins favor again
It is understood that domestic banks issued large amount transferable certificates of deposit as early as 1986. The interest rate is 10% higher than the deposit rate of the same period, and the denomination is from 100 yuan to 500000 yuan. When they first launched, they were ready to be sought after.
However, due to the frequent occurrence of such criminal acts as counterfeiting deposit receipts, and the fact that China had not yet formed a complete secondary circulation market at that time, the whole market nearly stagnated after 1996. In addition, due to the backward trading system and technology system, the central bank decided in April 1997 to suspend the issuance of large-scale negotiable certificates of deposit.
In June 2015, the people's Bank of China issued the Interim Measures for the administration of large amount certificates of deposit, which was restarted. The first batch of pilot banks were nine banks including China Construction diplomatic relations between industry, agriculture and China. According to the data of market interest rate pricing self-discipline mechanism, up to now, there are 543 institutions that can issue certificates of deposit in large amount. When issuing certificates of deposit, the issuer shall file the annual issuance plan with the central bank before the issuance of the first certificates of deposit each year.
At the beginning of the restart, large certificates of deposit did not seem to be popular with investors. Compared with the bank financing that enterprises and individuals can choose, the large-scale deposit receipt has lower income, higher investment threshold and no advantage. Therefore, in the early stage of large-scale deposit receipt implementation, the central bank lowered the starting point for individual investors to subscribe for large-scale deposit receipt from 300000 to 200000 in June 2016, which is still the case. The bank's issuance motivation is insufficient, just as an active debtor Yes. "Said a middle-level person from Huadong City Commercial Bank.
However, the situation has changed significantly since the second half of last year: on the one hand, the core is to break the new regulations on capital management of new exchange and deleveraging, and the products of large amount deposit certificates with guaranteed principal and interest are naturally concerned by conservative investors; on the other hand, the competition for bank deposit management is increasingly fierce, but the deposit management tools with interest rate advantage are limited, and the businesses such as structural deposit and large amount deposit certificate are booming 。
'in the first quarter, we took the initiative to recommend products such as structured deposits and large amount certificates of deposit to try to keep the possible deposits. The effect is very good. These products also play the role of absorbing incremental deposits, which is enough to meet the requirements of daily average deposits and balance assessment. "A president of Shenzhen Branch of the joint stock bank told reporters.
Some banks
Increase the interest rate of certificates of deposit
Now another important reason for the return of CDs to investors' favor is that many banks have recently increased the issuance rate of CDs.
The key reason for the increase of the floating ceiling of interest rate is the meeting held by members of the self regulatory mechanism of market interest rate pricing on April 12, which discussed the issue of liberalizing the self regulatory ceiling of deposit interest rate of commercial banks.
Interviewees from the banking industry generally believed that the adjustment of the deposit interest rate ceiling would never be in place in one step, but would be gradually liberalized by region, bank type and batch. 'too fast rise of deposit interest rate will promote the rise of loan interest rate, so as to further improve the financing cost of enterprises. From the perspective of overall risk control and deleveraging as the main line of regulatory guidance, the time for complete liberalization is not necessarily mature, and the government may be more inclined to & lsquo; stability & rsquo;. "Said a senior executive of Shenzhen Branch of the bank.
Although the listing interest rate of ordinary deposits did not move, after the above meeting, some banks quickly issued large certificates of deposit with different maturities, and generally increased the interest rate of large certificates of deposit: the largest banks in China responded as soon as possible, with the interest rate of large certificates of deposit rising by 45% - 50% compared with the benchmark interest rate; the interest rate of stock banks and urban commercial banks rising by 50% - 52%; the interest rate of agricultural and commercial banks rising by 52% ~ 55%.
Qiu Guanhua, chief banking analyst of Guotai Junan, believes that because the ordinary deposit rate has not moved, only the interest rate of large amount deposit receipt has been raised, which has a very limited actual impact on the bank's debt cost and interest margin.