A working conference on the self-discipline mechanism for market interest rate pricing was held in Beijing recently, and the bank deposit interest rate quotation method was adjusted to “benchmark interest rate + basis point”, ushering in major changes.
The reporter has been interviewing for several days and learned that many banks in Shenzhen have received notice from the head office and are proceeding with reform measures. Experts pointed out that this move will guide deposit interest rates down, help reduce the cost of debt of small and medium-sized banks, enhance sustainable operation capabilities, prevent and resolve financial risks, and use a good interest rate environment to help the development of the real economy.
The deposit interest rate quotation has been changed to a plus point model, and the short-term deposit interest rate has not changed much.
According to the spirit of the working conference on the market interest rate pricing self-discipline mechanism, the preferential interest rate of RMB deposits The quotation method is adjusted from the past “base interest rate × multiple” to “base interest rate + base point”.
The reporter interviewed banks in the Shenzhen market and learned that some banks have been notified by the head office to adjust the deposit interest rate quotation method and are actively implementing it.
“The adoption of new quotation methods is based on the needs of interest rate market reform,” Yu Lingqu, deputy director of the Institute of Finance and Modern Industry of the Comprehensive Development Research Institute, was interviewed by reporters Shi said, “At present, the loan rate has been priced by various financial institutions with reference to the LPR (loan market quoted interest rate), and added and subtracted on this basis. The deposit interest rate continues to use the form of rising, which no longer meets the current market needs.”
In the past process of banks’ reserve acquisition, different banks often used different upward ratios to determine interest rates. After changing to a point increase method, the interest rate level will be guided to fall. The adjustment mode of deposit interest rate quotation is “stable on the short end and declining on the long end”. In other words, the short-term bank deposit interest rate has not changed much, and remains generally stable; the interest rate of 2-year, 3-year time deposits, and large deposit certificates of related maturities will be lowered after the price is increased.
Some banks in Shenzhen lowered the interest rate of deposit products, and the two-year fixed deposit rate dropped significantly.
During interviews with reporters, it was discovered that many banks in Shenzhen lowered part of their deposits The interest rate of the product, and the reason for lowering the interest rate is precisely based on the adjustment of the deposit quotation method.
” During this period of time, we are mainly pushing 3-year large-amount certificates of deposit, and we are stepping up to take advantage of the reduction in interest rates.” A certain stockMr. Ou, the account manager of a commercial bank, told reporters. Mr. Yang, the account manager of a bank in Sungang, Luohu, told reporters that the bank had lowered the interest rate of some large deposit certificates at 4:30 pm on the 18th, which was about 10% lower than before.
The account managers of the above-mentioned joint-stock commercial banks all stated that they have received an oral notice from the head office regarding the adjustment of the deposit interest rate quotation method, and the interest rate will be calculated by adding points in the future. , The specific number of points is determined according to different deadlines, and the head office has a prescribed upper limit.
The reporter learned that a state-owned bank in Shenzhen has issued a notice to adjust the upper limit of fixed deposit interest rates from “up 40%” to “benchmark” starting on June 21. +50BP (BP: basis point)”. Calculated based on the 2.1% benchmark interest rate for two-year time deposits announced by the Central Bank, the bank’s two-year time deposit interest rate will drop from 2.94% to 2.6%.
Guide the decline in loan rates to prepare for the later marketization of interest rates
The adoption of a new quotation method for bank deposit interest rates will affect the financial and real economy What is the impact of development?
Yu Lingqu analyzed that different banks have different debt structures. Generally speaking, large state-owned banks have a large amount of deposits and offer lower interest rates. Small and medium-sized banks want to attract more Many savings deposits tend to give higher interest rates, which are generally increased by 50% on the basis of the central bank’s basic interest rate according to the upper limit, which increases bank costs and implicit risks. After the adjustment of the deposit interest rate calculation method, the supervisory authority will set different upper limits for different types of banks and lower the interest rate level, thereby playing a role in strengthening the prevention of financial risks.
“In the medium and long term, the purpose of adjusting deposit interest rates by commercial banks is to guide the decline in loan rates, create a favorable interest rate environment, and reduce costs for the development of the real economy.” Qu said.
Yin Yanmin, an analyst at Rong360 Big Data Research Institute, told reporters that the reform of the deposit interest rate quotation method will prepare for the later interest rate marketization, and the adjustment to the base point model is more conducive to the fine-grained bank Management of deposit interest rates For investors, the income of fixed-income products is already in a downward channel. In the medium and long term, it will guide more investors to choose to replace income with risk and attract more funds to allocate to equity markets such as stocks and funds.
(Originally titled “Bank Deposit Interest Rate Quotation Method Ushered in Significant ChangesSome banks in Shenzhen lowered deposit interest rates”)