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.

cls.cnDec 13 05:18 ET

Agricultural Bank Of China is following up on the exchange rate for personal foreign currency cash remittances, and recently several large state-owned banks have optimized and upgraded related services.

① On December 13, Agricultural Bank Of China announced on its official website that starting from December 13, 2024, it will optimize and upgrade personal foreign currency cash remittance services. ② In addition to Agricultural Bank Of China, several other banks have recently released similar announcements stating they will upgrade foreign currency cash services for personal Forex Accounts. ③ Although the cash remittance parity may somewhat affect the income of banks, it can significantly reduce the cost for individuals to conduct Forex Business.

cls.cnDec 13 01:54 ET

CBHB's credit card app is entering its countdown to shutdown, as multiple banks are initiating migration this year under the pressure of cost reduction and efficiency enhancement.

① On the evening of December 12th, CBHB's credit card center posted a message on its official Weibo, announcing that the bank's credit card APP will cease operations starting next year. ② Previously, CBHB's official website had already released relevant information. The purpose of the credit card center's announcement on Weibo was to remind users once again. ③ Throughout the year, multiple banks have removed dedicated APP Software, and aside from the relevant documents issued by regulators, the primary reason should still be related to cost reduction and efficiency improvement.

cls.cnDec 12 22:56 ET

State-owned large banks are following up again, and the Postal Savings Bank Of China has disclosed the list of external collection agencies for personal consumer loans. The bank's collection business is becoming increasingly standardized.

① The Postal Savings Bank Of China, Bank of Communications, and several other banks have recently continued to announce the list of external collection Institutions they collaborate with, which is related to the requirements of regulatory authorities. ② As the relevant collection work becomes increasingly standardized, the likelihood of previously common violations will significantly decrease. ③ In addition to the disclosure of the external collection list for consumer loans by Bank of Communications and the Postal Savings Bank Of China, some other banks have also recently disclosed the list of credit card collection Institutions on their official websites.

cls.cnDec 11 06:09 ET

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.

cls.cnDec 9 22:21 ET

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."

cls.cnDec 9 00:40 ET