Since the beginning of 2025, the large-denomination certificate of deposit market has been heating up, with more and more small and medium-sized Banks intensively issuing the first batch of large-denomination certificate of deposit products in 2025. Among them, most Banks are issuing three-year large-denomination certificates of deposit at an interest rate of over 2%, with the highest reaching 2.95%; meanwhile, some Banks are only issuing one-year or shorter-term large-denomination certificates of deposit. Yang Haiping, a researcher at the Shanghai Finance and Law Research Institute, told reporters that since the beginning of 2025, some small and medium-sized Banks have been intensively issuing large-denomination certificates of deposit for two main reasons: firstly, based on their actual asset and liability situation, to support their phased asset-liability allocation strategy; secondly, to prepare for the influx of funds during the first quarter's peak lending season for Banks. (Securities Daily)