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估算若年内LPR调降10bps,则定期存款利率有必要下降15-20bps予以对冲对息差的影响
估算若年内LPR调降10bps,则定期存款利率有必要下降15-20bps予以对冲对息差的影响
行业数据
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图片格式:PNG
图片大小:235KB
图片尺寸:2314*655
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所属报告:
银行业上市银行春季调研反馈暨板块思考:2026年银行业选股为先α优于β-260128(23页).pdf
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行业数据
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行业数据
2026-07-10
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图80.PET有光-PTA-MEG价差(元/吨)
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lOeptuaJgA==
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行业数据
2026-07-06
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一线城市租金回报率为1.81%,与30年国债利差为-41bps(单位:%)
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行业数据
2026-07-02
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齐鲁银行存款成本始终低于同业约20bps
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行业数据
2026-07-01
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图1有色金属行业2026年至今累计小幅下跌,相对基准有较大的负向收益
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行业数据
2026-07-01
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相比美国、日本成熟国家,我国复调占比、集中度有较大提升空间(2024年)
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行业数据
2026-06-24
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近年来长江证券经纪业务收入市占率有下滑
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竞争格局
2026-06-23
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中国OMO投放11120亿,LPR为3%
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行业数据
2026-06-15
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2020-2025年中国中免有税及免税商品收入(单位:
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行业数据
2026-06-15
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图20.无绳&有绳类电动工具占比
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行业数据
2026-05-28
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图19.无绳&有绳类电动工具规模(亿美元)及增速
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市场规模
2026-05-28
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恒力重工参与船舶行业有四大核心优势:规模大、位置佳、效率高、配套全
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市场规模
2026-05-25
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最新数据
全球全年龄段奶粉市场规模(亿美元)
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行业数据
2026-07-30
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全球酸奶及发酵乳制品市场规模(亿美元)
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行业数据
2026-07-30
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全球药用级益生菌市场规模(百万美元)
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行业数据
2026-07-30
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全球益生菌膳食补充剂市场规模及增速
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行业数据
2026-07-30
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全球拥有AKK专利菌株的核心企业
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行业数据
2026-07-30
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央行在 2026 年度工作会议中强调今年把“促进经济高质量发展、物价合理回升”作为重要考量,并“灵活高效运用降准降息等工具”,这表明是否降息“抉择在我”但核心在于“是否高效”。当前贷款利率已处低位,利率普降对需求提振的边际贡献或减弱;而银行息差也降至有记录以来最低水平、极低息差直接影响资本内生以及风险应对能力。在此基础上,现阶段通过结构性货币政策工具降息可能是更“高效”的选择。此次下调各类结构性货币政策工具利率 25bps 至 1.25%,一方面降低银行负债成本缓释对息差的影响,另一方面更突出精准性。而从全年来看,若结构性降息对二季度需求的提振不及预期,引导LPR调降仍有空间,我们判断存在年内 LPR调降 10bps的可能性,但也有必要通过非对称降息稳定银行息差。考虑到活期存款利率仅 0.05%,故存款端主要通过定期存款利率调降来对冲。估算若 LPR 调降 10bps,定期存款利率有必要调降 15-20bps 予以对冲。
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银行业上市银行春季调研反馈暨板块思考:2026年银行业选股为先α优于β-260128(23页).pdf
2026年银行业策略:选股为先,α优于β
银行业上市银行春季调研反馈暨板块思考:2026年银行业选股为先α优于β-260128
以国有行+股份行按揭贷款的“不良率+关注率”衡量逾期现状,2024年平均约2%
过去三年来不良生成率底部有所抬升,零售不良压力上行是主要原因,对公端增提拨备压力则不大
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