Reporter: Zhang Hong Editor: Wang Yuelong, Zhang Yiming
At the end of the year and the beginning of the year, the deposit interest rates of small and medium-sized banks rose and fell. Some small and medium-sized banks continue to reduce deposit interest rates, and on December 12, Beihai Rural Credit announced that since December 15, it has lowered the listed interest rates of two-year, three-year and five-year deposits.
Different from the long-term "drop and drop", in order to welcome the "good start", a number of rural commercial banks and village and township banks have also announced an increase in the implementation interest rate of personal time deposits. Zhongmu Zhengyin Village Bank and Guilin National Village Bank have both raised the interest rate on short-term deposits and lowered the interest rate on long-term deposits. Huaibin Rural Commercial Bank and Gushi Rural Commercial Bank will raise the execution interest rate of all deposits of 10,000 yuan in stages.
It is worth noting that some branches of urban commercial banks welcomed the "good start" and issued hard indicators for employees to deposit at the end of the year. "By the end of the year, we have to pull in a deposit of 1 million yuan, and if the target is not completed, we will have to deduct wages," an employee of the city's commercial bank added, "It is the first time that wages have been deducted if they cannot be completed." "In order to meet the target, the branch and staff provide cash back to customers.
Employees of state-owned banks are also busy shuttling in indicators such as personal pensions, inclusive benefits, deposits, and agency issuance.
The deposit interest rates of small and medium-sized banks have risen and fallen
Entering the last month of 2023, under the dual pressure of narrowing net interest margins and "good start", the deposit interest rates of small and medium-sized banks are diverging.
Some small and medium-sized banks continue to cut deposit rates.
On December 12, Beihai Rural Credit Co., Ltd. announced that the Beihai Urban Association will adjust the listed interest rates of RMB fixed deposits for two-year, three-year and five-year products from December 15, and the listed interest rates of other products will remain unchanged. After the adjustment, the listed interest rate for two-year time deposit is 2.4%, 2.75% for three-year and 2.8% for five-year term.
"The one-year interest rate hasn't changed. The interest rate for the previous two-year period was 2.55 per cent, which was reduced by 0.15 percentage points, and the interest rate for the three-year term was 3.25 per cent and the interest rate for the five-year term was 3.35 per cent, respectively, a decrease of 0.5 percentage points. Beihai Rural Credit staff said that the new interest rate will be implemented from today.
On December 14, Guang'an Hengfeng Village Bank issued an announcement that it would adjust the listed interest rate of RMB deposits from December 15, and the interest rates of 2-year, 3-year and 5-year personal time deposits were 2.60%, 3.25% and 3.35% respectively, which were reduced by 5BP, 5BP and 10BP respectively compared with the previous ones.
Some village and township banks have chosen to raise the interest rate on short-term deposits starting at 50 yuan and lower the interest rate on long-term deposits.
Zhongmu Zhengyin Village Bank announced that since the 8th of this month, the two-year deposit interest rate has been raised by 15BP, and the three-year and five-year stock interest rates have been reduced by 25BP and 30BP respectively, and the adjusted two-year, three-year and five-year deposit interest rates are all 2.40%;
Guilin National Village Bank announced that from December 1, the half-year deposit interest rate will be raised by 25BP, and the three-year deposit interest rate will be reduced by 10BP, and the adjusted half-year and three-year deposit interest rates will be 2.05% and 3.3% respectively, and the one-year deposit interest rate will remain unchanged at 2.15%.
"Because lending rates have been falling, deposit rates are also falling. The short-term interest rate increase is to take into account the factor of absorbing savings", the customer service staff of Guilin National Village Bank told reporters.
Some rural commercial banks have chosen to raise interest rates in stages for most maturities.
On December 12, Huaibin Rural Commercial Bank announced that it would raise the interest rate on the lump sum deposit and lump sum time deposit for newly opened individuals in stages from now on. If the minimum deposit amount is greater than or equal to 10,000 yuan, the interest rate of the 3-month, half-year, 1-year, 2-year and 3-year fixed deposits will be increased by 10BP, 5BP, 15BP, 15BP and 5BP respectively to 1.50%, 1.70%, 1.95%, 2.15% and 2.40%. For deposits below 10,000 yuan, the original interest rate will be implemented.
Similar to Huaibin Rural Commercial Bank, Gushi Rural Commercial Bank announced a phased increase in the interest rate on individual lump sum deposits and withdrawals for new accounts opened at the beginning of this month. The magnitude and interest rate after the increase are the same as those of Huaibin Rural Commercial Bank.
"This is a 'good start' activity during the Chinese New Year, and the phased increase will continue until March. Huaibin Rural Commercial Bank customer service told reporters.
Earlier, Guangdong Heshan Zhujiang Village Bank announced that it would raise the one-year execution interest rate of the whole deposit and withdrawal by 15BP to 2.25% from November 1, and Guangxi Xing'an Minxing Village Bank announced that it would raise the interest rates of the two "county-exclusive time" deposits of 6 months and 1 year by 30BP and 15BP respectively from November 21.
It is worth noting that when this reporter called the above-mentioned banks as non-local depositors, some banks said that non-local depositors could withdraw in advance through mobile banking; some banks said that although non-local depositors can open accounts, non-counter business will be restricted, and if they need to withdraw money, they still need to go to the counter with their ID cards and deposit receipts.
Lou Feipeng, a researcher at the Postal Savings Bank, said that for banks, the end of the year and the beginning of the year are often the peak season for deposits, and in the case of the in-depth promotion of interest rate marketization, banks will raise deposit interest rates in a targeted manner according to the characteristics of their own liability structure, which will help better absorb deposits and optimize the deposit structure.
He said that whether small and medium-sized banks will follow up and raise deposit interest rates mainly depends on their business strategies, but in the context of interest rate liberalization, banks according to their own business needs, reasonable interest rate hikes and interest rate cuts under the principle of marketization are market behaviors.
Hard indicators cannot be achieved to deduct wages
Individual banks provide cash rebates to customers
It is worth noting that in order to welcome the "good start", some banks choose to adjust the deposit interest rate, and some banks choose to issue hard indicators.
The reporter of "Daily Economic News" noticed that some urban commercial banks welcomed the "good start" and issued hard indicators for employees to deposit at the end of the year. "By the end of the year, we will pull up a deposit of 1 million, and if the target is not completed, we will deduct more than 10,000 wages," said an employee of the branch of the city commercial bank helplessly, "It is the first time that the salary has been deducted." ”
To meet the target, the branch and staff provide cash back to customers. On the basis of the deposit interest rate, the cash back is "2.5 thousand". "The industry is small, and the employees are big. The employee typed the word "xianjin" in Chinese pinyin, and added, "You can save for 1 year, and you can also save it for half a year, but the cashback will also be halved." ”
Does cashback to deposit customers comply with regulatory provisions? Lou Feipeng said that returning cash to customers in order to absorb deposits is a violation of regulatory regulations and an act that disrupts the order of the financial market. Article 47 of the Commercial Bank Law stipulates that commercial banks shall not raise or lower interest rates or use other improper means to absorb deposits or issue loans in violation of regulations.
It is worth noting that the supervision has long been expressly prohibited from soliciting savings at discounted interest rates, and according to the Regulations on the Administration of Savings, savings institutions are not allowed to use improper means to absorb savings deposits. The "Circular on Matters Concerning the Improvement of the Management of Deviation from Deposits of Commercial Banks" stipulates that commercial banks shall not absorb deposits through improper means such as returning cash or negotiable securities, giving away physical goods, etc., and shall not absorb deposits through third-party fund intermediaries such as individuals or institutions.
While regulating market order and implementing regulatory regulations, it is necessary to reflect on why banks and their employees take risks and pay out of their own pockets to violate the law, and why do they continue to prohibit the practice of absorbing savings deposits by improper means?
Personal pension, inclusive, deposit, and ......
Indicators vary from bank to bank
At the end of the year and the beginning of the year, employees of state-owned banks are also busy completing various indicators.
Wang Qin (pseudonym), who works in the party office of a branch of a state-owned bank, asked the reporter if he wanted to open a personal pension account. The person said, "Personal pension belongs to the indicators of full marketing, starting in the second half of the year and continuing until the end of the year." Engage in competitions, see how much others have driven, and the tide rises. The party office needs to set an example and not lag behind in everything. ”
However, the officer said, "I opened an account, and I can leave it there and not use it." ”
The reporter called the bank's customer service, and the customer service said that if the personal pension account does not save money, it can be cancelled, and if the money is saved, it can not be cancelled for the time being, and can only be transferred (to the personal pension account of other banks), or receive a personal pension after retirement.
The account manager of another state-owned bank told every reporter, "The indicators are different in each place, and our recent energy has been spent on inclusiveness, deposits, and issuance," referring to the deposit indicators, the person said, "This year, the annual deposit increment index of regional branches is 800 million, but there is still a gap of 500 million." If it is not completed, the salary will not be deducted, but the money will not be paid and the performance will be deducted. ”
Regarding the question of whether there is a shortage of liquidity in the banking industry at the end of the year, Lou Feipeng said that the current liquidity of the banking industry is generally reasonable and abundant, and it is relatively stable.
A banker told reporters that liquidity is indeed one of the factors affecting the quotation of bank deposit rates, but the interest rate hike is not necessarily due to a shortage of liquidity.
"Generally speaking, the head office of a commercial bank guides the deposit pricing behavior of its branches through FTP prices, and smaller institutions will directly manage it. But whether it is this pricing management model or not, part of the final pricing of the customer's deposit interest rate reflects the liquidity premium. That is, the tighter the liquidity, the higher the preference for. "However, this logic cannot be reversed, and the factors that affect deposit rates are not only liquidity. The person added.
What factors do commercial banks usually consider when formulating deposit and loan indicators, and should they pay more attention to the net interest margin or to the matching of deposit and loan growth rates?
Lou Feipeng said that the loan-to-deposit ratio is one of the important indicators that reflect the source and use of commercial banks' loan funds, and banks will pay close attention to it when formulating deposit-loan indicators. At the same time, banks will also take into account the national strategic needs, policy guidance, their own advantages, and capital situation when lending loans.
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Editor|Wang Yuelong, Zhang Yiming, Yi Qijiang
Proofreading|Sun Zhicheng
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