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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.
Bank of Communications Sells 30 Billion Yuan in Four-Year Bonds
Express News | Bank of Communications Sets UPS in Branch Dubai International Financial Centre (Difc) - Statement
Bank of Communications (03328.HK) issues 30 billion yuan first phase total loss absorption capacity non-capital bonds.
On November 27, Gelonghui reported that the bank of communications (03328.HK) announced that, with the approval of the National Financial Regulatory Administration and the People's Bank of China, it recently issued the 'Bank of Communications Co., Ltd. 2024 First Phase Total Loss Absorption Non-Capital Bonds (Bond Connect)' in the national interbank bond market, which was completed on November 27, 2024. The issuance scale of this bond is 30 billion yuan, for a 4-year fixed-rate bond with a coupon rate of 2.11%, and it includes a conditional early redemption option at the end of the third year. The raised funds from this bond, after deducting issuance costs, will be used in accordance with applicable laws and regulations.
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.
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