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iShares MSCI Min Vol Emerging Markets ETF Newsroom
The no-card deposit and withdrawal business continues to tighten, with about 20 banks officially announcing adjustments to the business, leading to diffusion among small and medium banks since November.
① Since November, about 20 banks have announced restrictions on cardless deposit and withdrawal services. Throughout the year, at least 50 various banks, including state-owned banks, joint-stock banks, and small to medium-sized banks have successively announced tightened cardless services. ② From the announcements released by each bank, their reasons for adjusting cardless services are basically consistent—risk control.
In November, the MLF volume continued to shrink. Previously, the 500 billion buy-back reverse repurchase has released medium-term liquidity ahead of schedule. The industry expects the reserve requirement ratio cut to be implemented faster.
①The funding operation mode of shortening and lengthening funds continues. On the one hand, the central bank continues to reduce the MLF operations volume, reduce the existing stock to mitigate its impact on the liquidity market. On the other hand, short-term funds continue to be net injected to hedge against cross-month fund pressure, strengthening the guiding position of reverse repurchase agreements on market interest rates. ②Local government bonds are centrally supplied, and the MLF is likely to see a quicker implementation under the reduced volume environment.
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.
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.
Interbank current deposit rates are significantly higher than policy rates. Some large banks face high liability pressures. The market expects pricing levels to be regulated.
1. Some banks' interbank current deposit rates are significantly higher than the current policy rates, significantly impacting short-term interest rates and increasing banks' liability costs. 2. The market anticipates that in the future, the level of interbank current deposit rates will be reasonably determined, effectively reducing banks' liability costs.
Market style rotation! China United Network Communications leads the surge starting with the middle letter.
With the arrival of a new round of adjustments, will the market's strong trend turn bad?
Deposit interest rates have generally declined, low volatility wealth management and large-denomination certificates of deposit have been promoted. Some small and medium-sized banks still maintain a relative advantage in large-denomination certificate of
①Although the interest rate level of large-denomination certificates of deposit has decreased somewhat, compared with ordinary time deposits, large-denomination certificates of deposit have a relatively high level of return. In addition, relatively speaking, the interest rates of some small and medium-sized banks are relatively high. ②For residents, it is recommended to diversify asset allocation based on their own risk tolerance and investment and financial management needs.
Shareholding of over 50 billion! Asset management giant can't help it anymore.
Source: China's largest financial asset management company, Citic Financial Asset Management Co., Ltd. (referred to as Citic Financial Asset Management, stock code $Citic Financial Assets (02799.HK)$), announced on the evening of November 8th that it will further promote the investment allocation plan. The total amount of the new investment plan is as high as 50.3 billion yuan, to increase shareholding in three listed companies! Citic Financial Asset Management stated that in recent years, the company has seized market opportunities and carried out a series of investment allocations, achieving positive results. In order to maximize shareholder interests, the company plans to further optimize the investment path based on the previous investments made.
Brokerage morning meeting highlights: China's semiconductor industry's domestic market demand and self-controllable direction are clear.
At today's brokerage morning meeting, citic sec believes that the domestic market and self-controllable direction are clear development directions for China's semiconductor industry; gtja pointed out that the improvement in domestic demand is expected to continue to heat up, highlighting the elasticity of baijiu; htsc stated that bank performance is expected to stabilize, seizing structural opportunities.
Pan Gongsheng: steadily promoting the opening up of the financial services industry and financial market systems, expanding the interconnection of domestic and foreign financial markets.
①The fundamentals of the Chinese economy, the broad market, strong economic resilience, and great potential have not changed; ② Continue to adhere to the supportive mmf policy, strengthen communication with the market, and constantly improve the quality and effectiveness of financial services.
Emerging Markets Could Be Poised for More Growth in 2025
Large banks are accelerating their efforts to expand into lower-tier cities! The balance of inclusive small and micro loans is increasing, while interest rates are declining. Small and medium-sized banks are speeding up their efforts to attract customers.
From the perspective of inclusive finance, state-owned major banks have continued to lower the average interest rate of inclusive loans for small and micro enterprises this year, while the loan balance has grown rapidly since the beginning of the year. Shareholding banks and city commercial banks are competing for customers based on service quality.
Traders reduce bets on Trump trades as emerging market assets rise.
As traders reduce their bets on Trump's victory, emerging assets surge significantly.
Rules for the normalization of existing house loan interest rates have arrived! Understand with one article.
1. Preliminary statistics show that as of October 28, 21 national banks have completed batch adjustments, totaling 53.667 million transactions, reducing the stock mortgage interest rates by 25.2 trillion yuan. 2. After this round of batch adjustments, the stock mortgage interest rates have dropped to 3.3%. If the gap between stock and new mortgage interest rates exceeds 30 basis points, it will trigger a new round of reductions in stock mortgage rates.
The operating conditions of the top three quarters of the six major state-owned banks have all been revealed, with a total consolidated net profit exceeding 1 trillion and a daily profit of 3.867 billion, and the overall asset quality is sound.
As of October 30, the third quarterly reports of the large state-owned banks have been disclosed. Among the six large state-owned banks, the revenue of ICBC, CCB, and Bank of China in the first nine months decreased year-on-year. Industrial and Commercial Bank of China, Bank of Communications, and China Construction Bank data show that the proportion of time deposits is still increasing.
AgBank's net profit increased by 3.6% in the first three quarters. The earnings conference will reveal the progress of "capital injection", management expects stable interest spreads this year and pressure will continue next year.
①Agricultural Bank is advancing the implementation of capital replenishment related work in accordance with the overall arrangements of regulatory institutions and shareholder units. "Currently, we are actively communicating with relevant departments and studying and demonstrating the plan for core tier one capital replenishment." ②From the perspective of next year's changes, under the macro-policy guidance of financial concession to the real economy, it is expected that Agricultural Bank's net interest margin will still be under pressure, and the trend of changes will remain basically consistent with peers.
In the third quarter, many banks saw double-digit growth in net income. The sector's increase was significant, how do we view the future market?
Recently, many A-share listed banks have released their third quarter reports for this year.
When will the repricing cycle change after the adjustment of the existing house loan interest rate? ICBC and CMB are already preparing relevant work, while many banks have no plans yet.
Industrial and Commercial Bank of China and CM Bank stated that they are actively preparing for the relevant work of redefining the 'repricing date' for mortgage loans. Prior to this, the central bank announced that starting from November 1, 2024, individuals with commercial residential loans with contracts specifying floating interest rates can negotiate and agree on the repricing cycle with banks and financial institutions. Today's adjustment of existing mortgage loan rates only involves additions or deductions and does not involve changes to the repricing cycle.
The scale of MLF maturing in October is the largest since the beginning of the year! The central bank will continue to reduce the scale by 700 billion yuan at a reasonable price. Industry insiders: It is expected that the increase in bank loans will resum
The MLF operation rate remained unchanged in October, with an operation scale of 700 billion. The MLF maturing amount for the month was 789 billion, the largest maturing scale since the beginning of the year. This indicates a slight reduction operation for the month.