央行开展买断式逆回购操作 有助于流动性保持合理充裕

Group 1 - The People's Bank of China (PBOC) conducted a 10 trillion yuan reverse repurchase operation with a term of 3 months (91 days) to maintain ample liquidity in the banking system and stabilize market expectations [1] - The operation is aimed at preventing fluctuations in the funding environment, as the banking system has shown a slight marginal contraction in liquidity recently [1] - The PBOC's decision to disclose the scale of the reverse repurchase operation earlier in the month enhances the transparency of monetary policy and helps guide market expectations [1] Group 2 - There is speculation that the PBOC may conduct additional reverse repurchase operations within June, as there is no restriction on the frequency of these operations [2] - The reverse repurchase operations are expected to work alongside Medium-term Lending Facility (MLF) to maintain liquidity in the banking system [2] - The use of various liquidity management tools, including MLF and reverse repos, is crucial for increasing credit availability for enterprises and households, thereby reducing financing costs in the real economy [2]