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In many areas of fujian, mortgage rates have been adjusted to 3.1%. Experts say that ultra-low rates are unsustainable and banks are correcting their "involution-style" competition.
①In multiple cities in Fujian Province including Xiamen, Fuzhou, Putian, etc., the housing loan interest rate has been uniformly raised from 3.05% to 3.1%. ②The unclear lower limit of interest rates has caused internal price competition among banks, this adjustment is a correction to excessively low interest rates and does not mean policy tightening.
Zhongtai: The senior law significantly saves bank capital, and under the improved market preference, attention is paid to the performance of quality banks.
Zhongtai stated that the regulatory authorities have relaxed the acceptance of advanced capital method applications. Based on the case of China Merchants Bank, the advanced method significantly saves capital, with a core Tier 1 capital adequacy ratio about 2 percentage points higher than the weighted method. If the top tier listed banks subsequently implement the advanced method, it is expected to increase the core Tier 1 capital adequacy ratio of the top tier listed banks by more than 1 percentage point.
The no-card deposit and withdrawal business continues to tighten, with about 20 banks officially announcing adjustments to the business, leading to diffusion among small and medium banks since November.
① Since November, about 20 banks have announced restrictions on cardless deposit and withdrawal services. Throughout the year, at least 50 various banks, including state-owned banks, joint-stock banks, and small to medium-sized banks have successively announced tightened cardless services. ② From the announcements released by each bank, their reasons for adjusting cardless services are basically consistent—risk control.
In November, the MLF volume continued to shrink. Previously, the 500 billion buy-back reverse repurchase has released medium-term liquidity ahead of schedule. The industry expects the reserve requirement ratio cut to be implemented faster.
①The funding operation mode of shortening and lengthening funds continues. On the one hand, the central bank continues to reduce the MLF operations volume, reduce the existing stock to mitigate its impact on the liquidity market. On the other hand, short-term funds continue to be net injected to hedge against cross-month fund pressure, strengthening the guiding position of reverse repurchase agreements on market interest rates. ②Local government bonds are centrally supplied, and the MLF is likely to see a quicker implementation under the reduced volume environment.
Rare! This rural commercial bank is offering a 5-year fixed deposit interest rate of 1.5%, which is lower than the 1.55% level of state-owned banks. It is referred to as a "case" in the industry.
①Recently, Wuxiang Rural Commercial Bank adjusted the deposit execution interest rates, lowering the execution interest rates for personal fixed-term deposits of two years, three years, and five years to 1.5%, with the five-year execution interest rate being lowered below the lowest level of the state-owned banks' published rates. ②The phenomenon of the aforementioned rural commercial bank reducing rates beyond the mid- to long-term levels of state-owned banks is still considered an isolated case.
Banks' dormant account cleanup is gradually extending to corporate accounts. This rural commercial bank announced that it will clean up long-suspended accounts of units, and many other banks are also handling this.
On the morning of November 20, Jinchang Rural Commercial Bank announced that it will clean up and close some unit bank settlement accounts that have been inactive for a long time. Recently, some banks have adopted similar practices to Jinchang Rural Commercial Bank, including Dangyang Rural Commercial Bank, China Construction Bank Weifang Branch, Bank of Nanjing.
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