The shelves of medium and long-term large-sum deposits are increasingly empty: low interest rates reshape the liability side of banks.

Since the beginning of the new round of interest rate cuts, large-denomination certificates of deposit, which used to be a tool for banks to attract deposits, have gradually become scarce. Recently, reporters visited several banks and found that many national banks have stopped selling medium and long-term large-denomination certificates of deposit, and the ones that are still available do not offer significant advantages in terms of interest rates compared to regular time deposits. Industry insiders believe that the difficulty in finding medium and long-term large-denomination certificates of deposit is a result of financial institutions actively reforming their liabilities side under the pressure of net interest margins, reflecting adjustments in cost control and liquidity management strategies by banks. In addition, the low interest rate environment is forcing banks to completely reshape their liabilities structure and operating models, pushing banks to transition from simply pursuing scale to pursuing quality and efficiency, a process which will profoundly impact the development landscape of the banking industry.