Poland Becomes Sole EU MiCA Holdout After Parliament Fails to Overturn Veto
Crypto21:06
CZ Emphasizes Strict Private Key Isolation for Hardware Wallets
Macro21:06
US Small Business Bankruptcies Surge to Records as Inflation Persists
Macro
Major Chinese Banks Reportedly Halt Sales of 5-Year Certificates of Deposit
12/02/2025, 08:36
AI SUMMARY
●Six major Chinese state-owned banks suspend sales of 5-year CDs
●Decision aims to lower liability costs and stabilize interest margins
●Shift in savings landscape may redirect capital to alternative markets
Six of China's largest state-owned banks have reportedly suspended the sale of 5-year certificates of deposit (CDs), according to reports cited by PANews. The institutions involved include major heavyweights like the Industrial and Commercial Bank of China (ICBC) and the Agricultural Bank of China.
The move is interpreted as a strategy to manage liability costs and mitigate pressure on net interest margins amid the current economic environment. This reduction in long-term high-yield savings options could potentially influence capital flows as savers seek alternative investment vehicles.