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Michael Burry's Scion Asset Boosts Stake in Alibaba, JD, Baidu, Buys Put Options
Interbank current deposit rates are significantly higher than policy rates. Some large banks face high liability pressures. The market expects pricing levels to be regulated.
1. Some banks' interbank current deposit rates are significantly higher than the current policy rates, significantly impacting short-term interest rates and increasing banks' liability costs. 2. The market anticipates that in the future, the level of interbank current deposit rates will be reasonably determined, effectively reducing banks' liability costs.
Deposit interest rates have generally declined, low volatility wealth management and large-denomination certificates of deposit have been promoted. Some small and medium-sized banks still maintain a relative advantage in large-denomination certificate of
①Although the interest rate level of large-denomination certificates of deposit has decreased somewhat, compared with ordinary time deposits, large-denomination certificates of deposit have a relatively high level of return. In addition, relatively speaking, the interest rates of some small and medium-sized banks are relatively high. ②For residents, it is recommended to diversify asset allocation based on their own risk tolerance and investment and financial management needs.
Brokerage morning meeting highlights: China's semiconductor industry's domestic market demand and self-controllable direction are clear.
At today's brokerage morning meeting, citic sec believes that the domestic market and self-controllable direction are clear development directions for China's semiconductor industry; gtja pointed out that the improvement in domestic demand is expected to continue to heat up, highlighting the elasticity of baijiu; htsc stated that bank performance is expected to stabilize, seizing structural opportunities.
Pan Gongsheng: steadily promoting the opening up of the financial services industry and financial market systems, expanding the interconnection of domestic and foreign financial markets.
①The fundamentals of the Chinese economy, the broad market, strong economic resilience, and great potential have not changed; ② Continue to adhere to the supportive mmf policy, strengthen communication with the market, and constantly improve the quality and effectiveness of financial services.
Emerging Markets Could Be Poised for More Growth in 2025
Large banks are accelerating their expansion to lower-tier cities! The balance of inclusive small and micro loans is increasing while interest rates are decreasing. Small and medium-sized banks are speeding up to attract customers.
From the perspective of inclusive finance, state-owned banks continue to lower the average interest rate on inclusive loans for small and micro enterprises this year, while the loan balance has grown rapidly since the beginning of the year. Joint-stock banks and city commercial banks, on the other hand, compete for customers based on service quality.
Rules for the normalization of existing house loan interest rates have arrived! Understand it in one article.
①Preliminary statistics show that as of October 28, 21 nationwide banks have completed batch adjustments, totaling 53.667 million transactions, reducing the outstanding housing loan interest rates by 25.2 trillion yuan. ②After this round of batch adjustments, the interest rates for existing housing loans have been reduced to 3.3%. If the gap between existing and new housing loan rates is greater than 30 basis points, it will drive a new round of reductions in existing housing loan rates.
The operating conditions of the six major state-owned banks in the first three quarters have all been revealed, with a total net profit attributable to the parent company exceeding 1 trillion, earning 3.867 billion per day, and the overall asset quality i
As of October 30, the quarterly reports of state-owned major banks have all been disclosed. Among the six state-owned major banks, the revenues of ICBC, ABC, and BOC for the first nine months year-on-year. Bank of Communications, Agricultural Bank of China, China Construction Bank showed that the proportion of time deposits is still rising.
The Agricultural Bank's net profit increased by 3.6% in the first three quarters. The earnings conference will reveal the progress of "capital injection". Management expects stable interest margins this year and pressure will persist next year.
①Agricultural Bank is advancing the implementation of capital replenishment in accordance with the overall arrangements of regulatory institutions and shareholders. "Currently, we are actively communicating with relevant departments and studying and demonstrating the plan for core Tier 1 capital replenishment." ②Looking at the changes from next year, under the macro policy guidance of financial benefits to the real economy, it is expected that Agricultural Bank's net interest margin will continue to be under pressure, and the trend of changes will remain basically consistent with peers.
When will the repricing cycle change after the adjustment of the existing house loan interest rate? ICBC and CMB are already preparing relevant work, while many banks have no plans yet.
Industrial and Commercial Bank of China, CM Bank stated that they are actively preparing for the relevant work of redefining the 'repricing day' for housing loans. Prior to this, the central bank announced that starting from November 1, 2024, for floating-rate contracts, borrowers of commercial individual housing loans can negotiate with banks and financial institutions in the industry to agree on a repricing cycle. Today's adjustment of existing housing loan interest rates only involves additions or deductions, and does not involve changes in repricing cycles.
October's MLF maturity scale is the largest since the beginning of the year. The central banks will continue to reduce the balance sheet by 700 billion yuan. Industry insiders expect that starting from October, the addition of bank loans will resume year-
1. In October, the MLF operation interest rate remained unchanged, with an operation scale of 700 billion. The amount of MLF due that month was 789 billion, the largest due amount since the beginning of the year. This means that a slight reduction in operations was implemented this month. 2. Industry insiders point out that the reduction in operation scale this month is not significant, determining that new bank loans will resume year-on-year growth from October.
Adjustment starting today! Major commercial banks are collectively adjusting the existing housing loan interest rates. Some small and medium-sized banks will complete the adjustment by the end of the month. A 1.25 million 25-year mortgage in Peking can sa
①Major commercial banks such as Industrial and Commercial, Agricultural, Bank of China, Construction, Communication, and Postal Savings Bank of China have collectively adjusted the interest rates of existing home loans that meet the criteria today, with some small and medium-sized banks expected to complete the process by the end of the month at the latest. ②With the combination of recent real estate support policies, there are certain signs of stabilizing and stopping the decline in the real estate market, and the phenomenon of early repayment has been alleviated.
Existing home loan interest rates are collectively adjusted today, with clients in shanghai seeing a reduction of 65 basis points in rates for those owning two properties.
Starting today, most existing home loans will undergo batch adjustments. State-owned major banks and other banks have already completed the adjustment of mortgage rates, while the adjustment process for some small to medium-sized banks may be slightly delayed.
Adjusted as scheduled! The adjustment of existing home loans for six major banks and many joint-stock banks has been implemented in batches, with some major banks already adjusted after 23:00 on the 24th.
① Up to now, six large state-owned banks and many joint-stock banks have initiated bulk adjustments of existing home loan interest rates. ② To ensure a unified adjustment on the 25th, some large banks have already started adjusting backend systems after 23:00 on October 24th. ③ Some users have posted screenshots, showing that after the adjustment of existing home loan interest rates on October 25th, the interest rate dropped from 4.8% to 3.9%, reducing interest expenses by over 0.02 million yuan.
12 joint-stock banks have completed a new round of deposit rate reduction. While the interest rates are generally falling, some banks are still issuing large-denomination certificates of deposit that are being snapped up. Will there be further reductions
①Currently, banks are starting a new round of deposit interest rate cuts, which is of great significance to stabilize interest margins, thereby ensuring the stable operation of commercial banks and continuously increasing support for financing the real economy. ②Currently, banks need to better manage the liability side, the key point is to forecast interest rate trends and make policy adjustments.
The latest adjustments have been made by nearly ten listed city commercial banks! The pressure of downward interest rate spread is becoming more prominent. Various banks are adopting different interest rate adjustment strategies to accelerate follow-up.
①Currently, about 8 listed city commercial banks, including Bank of Shanghai and Bank of Jiangsu, have made the latest adjustments to the deposit benchmark interest rates or some special deposit product rates, but the extent and intensity of the adjustments vary. ②Experts predict that small and medium-sized banks will gradually follow suit, but due to different funding costs and deposit structures of each bank, as well as differences in the market competition environment they face, they will adopt different interest rate adjustment strategies.
Another round of reverse operation by banks? Although the LPR has decreased, the floating interest rate on loans has increased. Some banks in jiangsu: the interest rate for first homes must not be lower than 2.95%.
Today, Nanjing, Suzhou, and other places have all stated that the minimum interest rate for first home loans will be lowered to 2.95%, down from the previous LPR-90 basis points to LPR-65 basis points. Industry insiders suggest that potential home buyers should pay attention to the signal changes and that some credit policies may show signs of stabilizing.
Nine joint-stock banks have followed suit today, with seven banks including Everbright and Guangfa announcing a reduction in the deposit benchmark interest rates, with the highest fixed deposit rate cut by 25 basis points.
①The current banks have started a new round of deposit rate cuts, which is of great significance in maintaining interest margins, thereby ensuring the stable operation of commercial banks and increasing the support for financing the real economy continuously. ②This round of bank deposit rate cuts is expected to basically offset the impact of various loan rate cuts on net interest margins.
Share buyback shareholding loans quickly landed! ICBC, BOC, ABC, CMB, CITIC and other first batch of multiple banks announced progress. Some banks have already shown cooperation intentions with nearly a hundred listed companies.
1. As of now, Bank of China has reached cooperation intentions with nearly a hundred listed companies, with 32 listed companies explicitly promised loans, covering multiple industries such as integrated circuits, transportation, high-end manufacturing, and business services; 2. The banks stated that they will strictly adhere to the risk compliance bottom line, rigorously prevent crediting funds that do not meet the conditions of stock increase stake & buyback and refinancing policies from illegally flowing into the stock market.