Zhao Jingzhi, a journalist, Zhang Yiming, an editor.
On May 15, a number of banks officially "removed" smart notice deposit products. As China Merchants Bank (600036) announced that from the 15th, it will stop the intelligent notice deposit service and handle the settlement of the business interest.
In addition, Everbright Bank (601818), Industrial Bank (601166) and Ping an Bank (000001) also issuedPunishmentrouletteThis kind of announcement, saying that the relevant smart notice deposit business has been terminated. As for the reasons for "taking off the shelves" of smart notice deposits, a number of bank announcements explained that they were due to business operation adjustments and policy changes.
At the same time, in terms of large certificates of deposit, the reporter noticed that some banks currently have no quota for three-year and five-year certificates of deposit, and the longest term of large certificates of deposit for some banks is only one year.
Zhou Maohua, a macro researcher in the Financial Markets Department of Everbright Bank, pointed out to reporters that at present, some banks have "removed" smart deposits and adjusted large deposit certificates, which are beneficial to easing the cost of bank liabilities. In particular, it has a relatively greater impact on banks with high liabilities such as large deposit certificates and smart deposits.
A number of banks adjusted on the same day
According to the announcement of China Merchants Bank, due to policy changes and business adjustment, the bank will adjust the smart call deposit business. Starting from May 15, the bank will stop the intelligent notice deposit service and handle the settlement of the business interest. According to the relevant legal documents signed by the customer when handling the intelligent notice deposit business, the bank will transfer the deposit principal and interest to the account agreed in the relevant legal documents. The relevant legal documents of the intelligent notice deposit business previously signed by the customer will be terminated as of May 15, 2024.
According toPunishmentrouletteIt is understood that after China Merchants Bank signed the intelligent notice deposit agreement, there is no need to transfer the amount to a specific account, the funds will be deposited into the current account, the system will automatically calculate interest in accordance with the corresponding interest-bearing rules, and the funds can be used at any time without making an appointment in advance.
China Merchants Bank said, "our bank will take off the intelligent notice deposit business on May 15. If you do not close the agreement, the system will be closed, April interest will be paid on May 1, and May interest will be paid in bulk after May 15."
Societe Generale announced that its personal smart call deposit product will automatically terminate on May 15, 2024. "for customers who have handled our personal intelligent notice deposit business, we will settle the interest and terminate the contract automatically on your latest settlement date, at which time the principal and interest of the products will be automatically transferred to your current account."
Soci é t é G é n é rale also announced that its corporate finance customer intelligence notice deposit product will be terminated automatically from May 15, 2024. For the enterprise financial customers who have handled the intelligent notice deposit business, the bank will settle the interest for the customers and terminate the contract automatically on the settlement date of the intelligent notice deposit account. At that time, the principal and interest of the products will be automatically transferred to the customer's current account.
Ping an Bank said that due to the adjustment of business operation, the "Daily Life Fund" and "Smart Deposit-Notification Deposit" product will be released on May 15, 2024, and the related business will be terminated.
According to Ping an Bank, the bank's smart deposit-notice deposit has the characteristics of "current convenience and periodic income". The surplus funds in the current account can be automatically transferred into time deposits, and the funds transferred to time deposits through this service can be withdrawn at any time or withdrawn through ATM and directly used for payment.
Help to ease the cost of bank debt
As for the reasons for "taking off the shelves" of smart notice deposits, a number of bank announcements explained that they were due to business operation adjustments and policy changes.
It is understood that as early as May last year, regulation lowered the self-regulatory limits on demand deposits such as agreed deposits and notice deposits, and required the suspension of notice deposits that do not require customer operation and intelligent automatic roll-over, and the stock naturally matured.
For example, Ping an Bank suspended the sale of "smart notice deposit products" on May 14 last year, and only stock products have been left since then.
"Intelligent notice deposits can not only enjoy the convenience of withdrawing demand deposits, but also obtain the income of fixed deposits. Meet the income and liquidity needs of depositors, so as to enhance the ability to obtain customers and liabilities. " Zhou Maohua told reporters that the business actually increases the cost of debt and the difficulty of liquidity management for banks.
In addition to "off the shelf" smart notice deposits, the reporter noted that at present, a number of banks have also removed long-term large certificate of deposit products. For example, China Merchants Bank currently has a maximum maturity of two years, and the account manager of China Merchants Bank told reporters, "there is no limit for three-year and five-year certificates of deposit on the App of China Merchants Bank."
Recently, the reporter found that Minsheng Bank (600016) App currently issued large certificates of deposit, the maximum maturity of only one year, and has been sold out.
Zhou Maohua pointed out that at present, the "removal" of smart deposits and the adjustment of large certificates of deposit by some banks are beneficial to ease the cost of bank liabilities, especially for banks with high liabilities of products such as large certificates of deposit and smart deposits.
"however, deposit products such as large certificates of deposit account for a relatively low proportion of overall commercial bank liabilities, and the cost of overall bank liabilities is limited." More importantly, the removal of banks from shelves or the adjustment of related products will help maintain the normal competition order in the deposit market and reduce the impact of high interest rates on deposits, Zhou said.