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Fitch Assigns A(EXP) Rating to Bank of China Toronto Branch's Proposed Notes
Rare! This rural commercial bank is offering a 5-year fixed deposit interest rate of 1.5%, which is lower than the 1.55% level of state-owned banks. It is referred to as a "case" in the industry.
①Recently, Wuxiang Rural Commercial Bank adjusted the deposit execution interest rates, lowering the execution interest rates for personal fixed-term deposits of two years, three years, and five years to 1.5%, with the five-year execution interest rate being lowered below the lowest level of the state-owned banks' published rates. ②The phenomenon of the aforementioned rural commercial bank reducing rates beyond the mid- to long-term levels of state-owned banks is still considered an isolated case.
Express News | The issuance scale of panda bonds registered by the Trade Association reached 137.2 billion yuan, exceeding the full-year figure of the previous year.
harbin bank (06138.HK) and bank of china (03988.HK) jointly released the financial service plan for the Asian Winter Games.
Harbin Bank (06138.HK) and Bank of China (03988.HK) Heilongjiang Branch have established a financial service support team, becoming the official partner of the 9th Asian Winter Games in Harbin in 2025 (Asia Winter Games), and jointly released the Asia Winter Games financial service solution, aiming to create a convenient, high-quality, safe and efficient financial service environment for the Asia Winter Games. Both banks plan to provide the full process of fund settlement and account management for the Asia Winter Games Organizing Committee, and will establish a dedicated cross-border payment team to improve the efficiency of foreign exchange transactions and cross-border payments, meeting the needs of different currency exchange and settlement.
Banks' dormant account cleanup is gradually extending to corporate accounts. This rural commercial bank announced that it will clean up long-suspended accounts of units, and many other banks are also handling this.
On the morning of November 20, Jinchang Rural Commercial Bank announced that it will clean up and close some unit bank settlement accounts that have been inactive for a long time. Recently, some banks have adopted similar practices to Jinchang Rural Commercial Bank, including Dangyang Rural Commercial Bank, China Construction Bank Weifang Branch, Bank of Nanjing.
The unchanged LPR in November meets market expectations. Industry insiders do not rule out the possibility of further interest rate cuts next year along with the reverse repurchase rate.
① By the end of the year, the economic running is expected to continue its upward trend, with policy interest rates likely to remain stable and LPR quote also expected to stay unchanged. ② There is a high possibility of further reductions in deposit rates in the future, coupled with the issuance of special treasury bonds to support large state-owned commercial banks in replenishing their core tier one capital, which is expected to gradually alleviate the interest spread and operational pressure for commercial banks. It is possible that next year the LPR quote may be accompanied by further interest rate cuts on reverse repurchase agreements.
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