Moving deposits accelerates liability differentiation. At the end of the mid-year quarter, banks attract hidden deposit flows on their "one-day tour" of the market.

The mid-year performance assessment window is approaching, and the competition in the deposit market of banks is showing subtle changes. On one hand, large banks are actively managing high-interest liabilities and weakening end-of-quarter rushes; on the other hand, in the competition for existing customers, some small and medium-sized banks are finding it challenging to achieve their quarterly deposit growth targets. It is worth noting that although the banking industry scale assessment is shifting from focusing on deposits to "AUM" (assets under management), the overall situation does not mean that the pressure of grassroots assessment is decreasing, and impulsive behaviors of "day trips" are still prevalent. With deposit interest rates continuing to decline, a large amount of residents' funds are shifting towards wealth management products such as financial products and funds. In May of this year, for the first time in many years, there was a net outflow of residents' deposits in a month, leading to a profound adjustment in the liability structure of banks.