Mo Kaiwei Talked About The Liberalization Of Commercial Deposit Interest Rate Leading To Vicious Competition

Under the marketization of deposit interest rates, banks are seeking deposits and self insurance in order to raise their interest rates. This is essentially the same as the "savings war" of the year. If this behavior is allowed to overflow, the consequences will not only be similar to the outcome of the year, but will also damage the marketization of interest rate reform, and slow down the process of financial reform, which is even more harmful to the transformation of China's banking industry. Mo Kai Wei Mo Kai Wei

In October 23rd, when the central bank announced the lifting of the deposit interest rate limit, most banks quickly adjusted the deposit interest rate. The short-term fixed interest rates of the five major trades in the establishment of diplomatic relations between peasants and workers all rose more than 16% above the benchmark interest rate. The joint-stock banks also generally rose more than 30%, while some of the city commercial banks went up more than 40%, while the highest ones rose 67%.

The marketization of deposit interest rate is an established goal of China's financial reform. Its biggest and fundamental role is to enable banks to voluntarily negotiate and determine prices of various financial products in accordance with the principles of marketization, and to promote the transformation of business models by financial institutions, to raise the level of financial services, to improve the market interest rate system, and to raise the efficiency of fund utilization, so as to provide an inexhaustible motive force for the sustainable development of the economy.

When the interest rate liberalization of the deposit market can only be "wolf", the banks should be calm and respond. According to their own assets and liabilities and the situation of social capital supply, we should establish a scientific pricing strategy so as to keep the deposit interest rate pricing at a reasonable level. It can not only absorb the savings deposits of the public, but also reduce the flow of bank deposits and reduce the liquidity crisis.

In the new era of China's deposit interest rate fully entering the market, banks should resolutely safeguard the order of deposit interest rate liberalization from two aspects.

On the one hand, the market interest rate of deposits can not be "public good dragon", and we should consciously accept the courage and perseverance of market baptism.

The deposit interest rate marketization has been calling for many years. When the deposit interest rate marketization is not coming, commercial banks are thinking about it. They can not wait to see that the full liberalization of deposit interest rate will come at an early date and give more initiative and voice to the bank's pricing of absorbing deposit funds. Bank However, it became "Ye Gong", worried that the low interest rate would lead to the diversion of deposits and cause the crisis of current liabilities. Therefore, they would make every effort to improve their interest rates. This is actually a lack of enough performance and confidence in the operation of the performance, but also on the deposit interest rate marketization lack of courage and perseverance. It is the best evidence that the interest rates that the media disclose is going up.

At the same time, we should keep the growth of rational deposits and ensure that assets are determined to be indebted. We should not blindly expand the scale of liabilities and increase the interest rate of deposits and absorb deposits so as to prevent the banking industry from falling into a scarred ending.

On the other hand, we should not establish "self preservation and self-help" for the marketization of deposit interest rate. We should establish the spirit of mutual cooperation and the spirit of sharing the same boat.

The interest rate liberalization will affect the whole banking industry. Interest rate liberalization An integral part of the ecological chain. Only by ensuring the overall ecological trend of the deposit interest rate market can every bank become the biggest winner, otherwise, it will fall into the abyss of deposit interest rate marketization and become the "victim" of mutual "poison".

We should remember vividly that banks have repeatedly staged the blind interest rate increase and the "vicious war" in the last 80s and 90s. This phenomenon has not only raised the operating cost of banks, but also damaged the entire banking industry and damaged the operation ecology of the entire banking industry.

The fundamental reason for this kind of deposit war is that banks have fallen into a kind of business panic mentality, worried that they are at a disadvantage in the deposit competition, thus lacking the overall spirit of banking cooperation and raising the deposit interest unilaterally.

Therefore, Banking Under the marketization of deposit interest rates, raising interest rates for deposits in order to save deposits and deposits is virtually the same as the "savings war" of the year. If this behavior is allowed to overflow, the consequences will not only be similar to the outcome of the year, but will also damage the fruits of interest rate marketization reform.

Under the tide of marketization of deposit interest rates, banks should eliminate their narrow sense of self-protection, strengthen industry alliance, set up work liaison and coordination mechanism for interest rate marketization, strengthen and improve the Self-discipline Function of the industry, step up the pace of deposit interest rate fluctuation, avoid the phenomenon of mutual demolition, and strive to curb the orderly market of interest rates.