货币市场日报：7月18日

Group 1 - The People's Bank of China conducted a 1,875 billion yuan 7-day reverse repurchase operation on July 18, maintaining an interest rate of 1.40%, resulting in a net injection of 1,028 billion yuan after 847 billion yuan of reverse repos matured on the same day [1] - For the week, the People's Bank of China executed a total of 17,268 billion yuan in 7-day reverse repos, leading to a total net injection of 12,011 billion yuan after accounting for 4,257 billion yuan in reverse repos and 1,000 billion yuan in 1-year MLF maturing [1] - The Shanghai Interbank Offered Rate (Shibor) remained stable, with the overnight Shibor decreasing by 0.10 basis points to 1.4620%, and the 7-day Shibor down by 1.00 basis points to 1.4940% [1] Group 2 - The overnight funding rate in the interbank pledged repo market fell below 1.5%, while the 14-day funding rate saw a slight increase. The weighted average rates for DR001 and R001 decreased by 0.7 basis points and 2.4 basis points, respectively, with transaction volumes dropping significantly [1] - The overall funding environment on July 18 was balanced and slightly loose, with overnight rates stabilizing around 1.48%-1.50% and 7-day rates remaining stable [10] - A total of 169 interbank certificates of deposit were issued on July 18, with an actual issuance volume of 2,617.7 billion yuan, reflecting active trading sentiment in the primary market [11] Group 3 - The Financial Regulatory Administration held a meeting emphasizing the need to advance the reform of small and medium financial institutions and effectively prevent and resolve key area risks [14] - The People's Bank of China is soliciting opinions on the "Interbank Market Brokerage Business Management Measures (Draft for Comments)," which includes 26 articles focusing on the types and scope of brokerage institutions and risk isolation requirements [14] - The People's Bank of China is also seeking feedback on the draft supervision and management measures for financial institutions regarding anti-money laundering and anti-terrorist financing, detailing regulatory responsibilities and requirements [14]