Some bank members participated in the meeting on the market interest rate pricing self-discipline mechanism and were asked to strengthen the self-discipline management of interbank deposit rates.

According to multiple sources from banks, recently, some member banks participated in a meeting on market interest rate pricing self-discipline mechanism, and were required to enhance self-discipline management. The proportion of interbank demand deposits that exceed the policy rate of OMO reverse repurchase with a maturity of more than 7 days should not exceed 10% to 20% at the end of each quarter. Industry insiders expect that interbank deposits exceeding 10 trillion yuan may face interest rate cuts. This upgrade of self-discipline management is an expansion and strengthening of the self-discipline management at the end of 2024. In November 2024, the market interest rate pricing self-discipline mechanism issued a "Initiative on Optimizing the Self-Discipline Management of Non-Bank Interbank Deposits Rates", which for the first time included non-bank interbank demand deposits into the self-discipline management framework. It clarified that financial infrastructure institutions should price their demand deposits at a premium deposit reserve rate of 0.35%, while other non-bank demand deposits should reference the 7-day OMO reverse repurchase rate of 1.4%.