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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.
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.
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.