Based on the analysis of the background and process of interest rate marketization reform in the United States in the 1980s, this paper focuses on its impact on bank asset-liability business, transition to intermediary business and industry concentration. The research shows that the marketization of interest rate leads to a narrowing trend of deposit-loan spreads, but the increase in the proportion of loans to assets has little impact on the net interest margin of banks in the early stage of reform. However, with the improvement of interest rate marketization reform and the deepening of financial disintermediation, the net interest margin still shows a downward trend. In addition, the marketization of interest rates has obviously promoted the transformation of banks to intermediary business, strengthened industry competition and enhanced industry concentration.

The reform of interest rate marketization means that the government relaxes the control of deposit and loan interest rates and cancels the protection of bank deposit and loan spreads, so that the price of funds is completely determined by the relationship between market supply and demand. Many countries have realized the marketization of interest rates in the past few decades, which has had a far-reaching impact on the financial system. China's banking industry has undergone restructuring, restructuring and listing in recent years. Although its management and profitability have been significantly improved, its profits still mainly come from spread income. As an important direction of financial system reform in the future, what kind of path will China's interest rate marketization take? What impact will the reform have on China commercial banks that rely on assets and liabilities? Taking the interest rate marketization reform in the United States as an example, this paper analyzes its macro and policy environment at that time, as well as the experience and lessons in the reform process, in order to provide reference for the interest rate marketization process and banking operation in China.

The interest rate control in the United States before the 1980s was mainly controlled by the Q regulation of the deposit interest rate ceiling, and some state governments also stipulated the loan interest rate ceiling. The market-oriented reform basically follows the following order: canceling the interest rate ceiling for large deposits, canceling the interest rate ceiling for loans, canceling the interest rate ceiling for general deposits in stages, and relaxing the business scope. Since the early 1970s, the United States has successively abolished the interest rate ceilings for large negotiable certificates of deposit and time deposits with different amounts, and allowed the interest rates of savings certificates of deposit with partial maturities to be linked to treasury bill rate. 1980 the law on deregulation of deposit institutions and monetary control was promulgated, which determined the development direction of interest rate marketization in the form of laws and regulations. The main contents include: from 1980 to March 3 1, abolishing the "q-gauge" in stages after six years until March 3 1986. Cancel the upper limit of loan interest rate; Savings institutions are allowed to conduct current accounts and automatic withdrawal accounts nationwide.