Recently, commercial banks, including Industrial and Commercial Bank of China, China Construction Bank Corporation, China Merchants Bank and other commercial banks, have seen the phenomenon that the interest rates of three-year deposits are almost the same as those of five-year deposits, and some bank deposit rates are even "upside down". For example, the interest rate of China Construction Bank Corporation's 3-year and 5-year time deposits is 2.75%. When the 3-year fixed deposit reaches 50, 000 yuan, it can rise to 3.15%; Bank of China Ltd. 's 3-year time deposit has a maximum interest rate of 3.15% and the highest interest rate for 5-year time deposits is 2.75%. Why is the medium-and long-term deposit interest rate "upside down" this time? The main reason is that banks believe that funds will continue to be loose in the future, and the cost of raising funds through rolling financing is significantly lower than that of long-term time deposits with locked interest rates. In addition to the current monetary easing, sufficient short-term liquidity and other factors, the bank level is more based on balance sheet and net interest margin considerations, in order to "reduce capital". (Securities Times)