Central bank denied market deposit interest rates

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Merchants Bank reported that the pilot and other banks, the central bank responsible person
Merchants Bank, said the pilot had not received notice

According to has started at least two months. China Merchants Bank is the only pilot projects into large banks, other banks are small and medium sized city commercial banks, an unknown number.

end of last year, central bank governor Zhou Xiaochuan has said it will approve a financial hard constraints and financial institutions in a competitive market produce pricing. Central University of Finance and Professor Guo Tian Yong believes that if the first batch of pilot most of the selected small and medium banks,[link widoczny dla zalogowanych], making the pilot project is feasible, the interest rate market to prevent a major impact on the banking industry. Interest rate liberalization will increase the competitiveness of the pilot bank deposits, it is possible that the status of the pilot banks to ease funding constraints. However, he believes that market interest rates on deposits may be required to promote a wider range six months to a year's time.
plan the medium and small banks are prepared to

interest rate market is the deposit and lending rates in accordance with market supply and demand pricing, adjusted by the market. Under the current system of management, deposit interest rates can fall but can not go up,[link widoczny dla zalogowanych], loan rates to fall is limited. It is understood that the interest rate market is already facing the inevitable trend of China's banking sector, medium and small banks are tackling these preparations.
Zhu Yan Bing, chairman of Bank of Beijing said earlier that the bottom line of deposit and lending rates once revoked, spread income accounted for 80% of the commercial banks, will be a huge challenge. Big companies and big organizations to bargain with the bank customers will first drive down interest rates, the game between enterprises and banks will become increasingly acute, the bank only to tap the potential of high value-added products on the retail business. Therefore, to the retail business transformation, improve the middle income share, a leap in the domestic banking sector must be completed.
Merchants Bank president Ma Weihua said the end of 2010, the interest rate market is a matter of time. The current macro-economic changes, changes in interest rates will cause commercial banks to challenge the existing model. ICBC chairman Jiang Jianqing has said that once the interest rate reform comes to savings and loan bad bank as the main revenue model will be a sharp decline in profits.
Interest Rate Market

2003 years ago

limit the scope of bank pricing power less than 30% floating.
2004 年

floating loans extended to 1.7 times the benchmark rate.
2004 年 10 月

floating loans are not capped rate to fall to 0.9 times the benchmark rate; deposit interest rate to float downward with no end.
2006 年 8 月

commercial individual housing loans will fall to expand the range of 0.85 times the benchmark rate.
2008 年

commercial individual housing loans will fall to expand the range of 0.7 times the benchmark rate.
analysis

reported that the overall valuation of the industry will drop 30%

According to the American experience in the early stages of market interest rates, bank failures over the U.S. each year double digits in 1985 reached three digits. So, the interest rate market will have much impact on China's banking sector?
Aviation securities report pointed out that if the interest rate market to promote the short term, joint-stock bank interest margins will weaken the advantages of elasticity, are subject to deposit ratio and reserve ratio difference between the restrictions, joint-stock demand for bank deposits will gradually increase, making the cost of its deposits increased by a dramatic increase in the magnitude of credit expansion will be limited. In contrast, many state-owned bank branches,[link widoczny dla zalogowanych], the high proportion of savings deposits, deposits and loans than low, in the current environment has a comparative advantage.
the short term, if the time deposit interest rates go up 10% -15%, will make the banking sector performance in 2011 fell 3 percent growth rate, while the long term, the initial 5-year net interest margin is usually reduced 20%, industry 30% of the overall valuation will drop. (Suman Li)

background

central bank interest rate market has been incorporated into the main work of this year

2010 年 9 months, the central bank in charge of the opened to an article published in the current round of interest rate reform off the discussion.
2010 year, central bank governor Zhou Xiaochuan made in a speech to the scoping and provide incentives to strengthen the idea of self-discipline under the interest rate reform to move forward, five-second period, interest rate market there will be significant progress, the central bank will approve a financial hard constraints and financial institutions in a competitive generation market pricing.
a week after the speech, the central bank central bank survey published in the official website of the Statistics Division Sheng Songcheng article, once again blowing speed the process of marketization of interest rates.
the current interest rate market has been included in the work of the central bank in 2011 one of the main market-oriented reform of interest rates in the slowly melting ice. (Suman Li)
(This article Source: Beijing News)
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