货币市场日报：7月15日

Group 1 - The funding environment on July 15 shifted from tight to loose, with overnight rates rising above 1.5% and increased transaction volumes for 7D and 14D products [1][11] - The People's Bank of China conducted a 342.5 billion yuan 7-day reverse repo operation at a rate of 1.40%, maintaining the previous level, resulting in a net injection of 173.5 billion yuan into the market [1][14] - The Shanghai Interbank Offered Rate (Shibor) for overnight loans rose by 12.00 basis points to 1.5350%, while the 7-day and 14-day Shibor increased by 3.10 and 4.40 basis points, respectively [2][5] Group 2 - In the interbank pledged repo market, overnight rates exceeded 1.5%, with the weighted average rates for DR001 and R001 rising by 10.6 and 9.1 basis points, respectively [5][8] - The total transaction volume for DR001 decreased by 10.7 billion yuan, while R001 saw an increase of 42.5 billion yuan [5][8] - The primary market for negotiable certificates of deposit (NCDs) showed strong trading sentiment, particularly for 3-month and 1-year maturities, with a total issuance of 134.2 billion yuan on July 15 [12][14] Group 3 - The China Banking and Insurance Regulatory Commission issued new regulations for local asset management companies, limiting their investment balances with single clients and related parties to a percentage of their net assets [14] - China Pacific Insurance reported a 9.7% year-on-year increase in original insurance premium income for its life insurance subsidiary, totaling 168.01 billion yuan, while its property insurance subsidiary saw a 0.9% increase to 113.99 billion yuan [14]