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The interest rates of the same industry certificates of deposit are rapidly declining, and under "moderately loose" conditions, there is hope to drop to 1.30%.
1. After the improvement in MMF transmission efficiency, the CD interest rate and the 7-day OMO rate will integrate within the next year. 2. Due to the faster decline of long-term bonds, the spread between the 10Y government bond and the 1Y CD has been compressing, and is currently at 13BP.
Bank of Guizhou Strengthens Governance With New Committee Appointments
BANK OF GUIZHOU (06199.HK): Li Haoran is elected as the chairman of the ESG Management and Consumer Rights Protection Committee and a member of the Audit Committee.
On December 12,格隆汇 announced that BANK OF GUIZHOU (06199.HK) released a notice stating that on December 12, 2024, the Board of Directors resolved to elect Li Haoran as the chairman of the Board of Directors’ ESG Management and Consumer Rights Protection Committee and a member of the Audit Committee, with such appointments effective immediately.
The interest rates for consumer loans at some "2"-tier banks will decrease by 10 basis points again in December, while the lowest interest rate at major banks has already dropped by 50 basis points this year.
① The consumer loan products promoted by banks with extremely low interest rates are mostly aimed at high-quality customers, so it is important for customers to pay attention to the actual interest rate level when applying, and then decide whether to borrow. ② The reduction in personal consumer loan interest rates helps to lower the costs for holders of consumer crediting, promoting demand for consumer crediting, and thus driving consumption.
As the year-end approaches, many banks are warning about the "standard usage of credit cards" and will periodically take control measures against abnormal customers.
Since late November, more than ten banks have intensively issued reminders about the "standard use of credit cards," including several national commercial banks and many local small and medium-sized banks; on December 6, Qilu Bank issued a reminder that consumers must not rent or lend their credit cards, and it is prohibited for others to make repayments on their behalf, "irregular control will be implemented on abnormal customers."
There are still "2" denominations! Many local banks are intensively issuing large-denomination certificates of deposit at the end of the year, and state-owned big banks and listed banks are also "mixed in".
① Especially since late November, about 20 local banks across the country have intensively announced the launch of large-denomination certificates of deposit. Furthermore, some annualized interest rates are still above 2%. ② Recently, some state-owned major banks have also been "quietly" promoting their own large-denomination certificate of deposit products, and listed banks are also introducing related products.
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