同业存单到期量环比减9000亿！银行负债压力缓解，收益率回落6个基点

Group 1 - The pressure on the bank's liability side is gradually easing, with the maturity volume of interbank certificates of deposit (CDs) significantly dropping to 245.79 billion yuan, a decrease of nearly 900 billion yuan week-on-week [1] - The central bank has maintained stability in the interbank funding market by releasing medium to long-term funds of 200 billion yuan through two reverse repos and a net injection of 118 billion yuan via MLF [3] - The maturity pressure in June reached a historical high of 4.16 trillion yuan, but the yield on AAA interbank CDs has shown signs of stabilization, reflecting a subtle adjustment in market supply and demand [4] Group 2 - The financing capacity of state-owned banks has improved, with daily lending levels rising back above 400 billion yuan in June, indicating good liquidity conditions [5] - There is strong demand for interbank CDs from non-bank financial products, with significant purchases from wealth management and money market funds, leading to a high issuance rate of around 94% [5] - Looking ahead, the maturity scale is expected to decrease significantly to 280 billion yuan in July, providing more operational space for the market and potentially leading to a seasonal decline in funding and CD rates [6]