In-depth | Impact of the Upgrade in Self-discipline Management of Interbank Deposits: 28.7 Trillion Yuan of Interbank Assets Face Changes, Major State-owned Banks Likely to Be Hit First

① Under the upgraded self-regulatory management, large state-owned banks will be the main entities responsible for reducing interbank deposits, with joint-stock banks likely to benefit the most significantly. ② In recent years, the liability structure of banks has been undergoing fundamental changes, with the “seesaw” effect between asset management products and on-balance-sheet deposits becoming increasingly prominent. ③ The core impacts of the upgrade to the interbank self-discipline mechanism are concentrated in two aspects: the reduction of liability costs and the downward shift in the short-term interest rate.

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