Negotiable certificates of deposit ready to market-oriented interest rate the fastest next year endingNegotiable certificates of deposit ready
collector of market-oriented interest rate the fastest next year
interest rate market is entering the closing stages, with the deposit insurance system, the deposit interest rate floating range expansion, negotiable certificates of deposit and other systems, products coming out, for businesses and individuals of negotiable certificates of deposit has been raised. A few days ago the news that this month's Central Bank [Twitter] will be part of the Bank's open policy, on individuals and companies issuing CDs, personal threshold for 300,000 yuan, the enterprise barrier at 10 million Yuan.
in fact, enterprises and individual introduction of negotiable certificates of deposit and did not let the market surprised many predicted as early as last year negotiable certificates of deposit will be launched in the second half of last year, but ultimately did not make the trip. If last year was the hardest stage of interest rate marketization, then may this year and next will be the final battle. So far, only launch CDs of interest rate liberalization and lifting of the deposit cap in two steps.
deposit is a financial product issued by commercial banks, are depositors in Bank certificates of deposit and negotiable CDs are different from other CDs, amount, term of not less than 7 days as an integer, and can be transferred prior to the expiration.
previously, Bank of China (4.44,-0.11,-2.42%) was biography was batch oriented personal and Enterprise issued large CDs, although this a message was Bank official denied, but Bank of part branch line has in for for personal and enterprise of large can transfer CDs of related training; and in last year ICBC (5.08,-0.05,-0.97%) of medium-term performance launches Shang, ICBC will also say ready for individual and corporate clients issuing CDs preparations.
worth mentioning is that the banks if there is a short-term funding needs, primarily through interbank lending and buying back the sale of the business, negotiable certificates of deposit improves the liquidity of interbank deposits, borrow from to meet funding needs and solving interbank funding issue is of great significance. In addition, negotiable deposit can reduce financing costs, and a large scale.
, according to public information, since 1996 to establish a unified national interbank market, interest rate market in China has gone through nearly 20 years on the road. Bond market, monetary market and marketization of interest rates on foreign currency deposits and loans market almost complete. At present, the Central Bank let the cap on lending rates and deposit rates are lower. Deposit interest rate floating CAP in November last year, respectively, in March of this year and May 11, has extended to the base rate of 1.2 times and 1.3 times times and 1.5 times. Two months ago, Central Bank Governor Zhou xiaochuan also offered interest rate schedule: open ceilings on deposit rates is the probability of the event this year.
Deutsche Bank forecast lending policy interest rate curve at the end of 2015, when the lending base rate will develop into a market-oriented interest rate curve and deposit interest rate curve will be replaced by short-term policy interest rates, which were replaced by overnight interest rate or 7 day rate. 2016 could become the year of the end of interest rate marketization.