The Chinese government requires commercial banks to set the upper limit of some deposit interest rates from next Monday (May 15), which is intended to reduce the cost of bank funds to support the Chinese economy.
According to the notice of adjusting the deposit of the agreement and notification of the self -discipline of deposit on Thursday (11th), from May 15Bank of China and Construction Bank execute the benchmark interest rate plus 10 basis points, and other financial institutions implement the benchmark interest rate plus 20 basis points.
Guotai Junan Securities Company said that after the adjustment, the interest rate of such deposits decreased by 40 to 55 basis points from previous.A few waves of deposit interest rates have been reduced in early May of last year and early May this year, and this adjustment will further alleviate the narrowing pressure of the bank's net interest rate difference.Reuters also reported the news earlier.
The CSI 300 Financial Real Estate Index once rose 1.5%on Thursday morning, and the cumulative increase in this year has expanded to 6.9%.
Liao Zhiming, an analyst of China Merchants Securities, pointed out in the report that it is expected that the new rules will generally reduce the interest rate of small and medium -sized bank agreement deposits and notification deposits, but the impact on Da Bank is relatively limited.According to the notice, the upper limit of the agreement deposit rate after the adjustment of the four major banks will be 1.25%, and the upper limit of other financial institutions will be 1.35%.
Guotai Junan said that considering that the new upper limit of the current deposit rate of most banks is still room for the new upper limit after adjustment, the direct impact on the current ecology of the overall deposit market has a small impact.
