货币市场日报：8月21日

Monetary Policy and Market Operations - The People's Bank of China conducted a 7-day reverse repurchase operation of 253 billion yuan at an interest rate of 1.40%, maintaining the previous rate, resulting in a net injection of 124.3 billion yuan after 128.7 billion yuan of reverse repos matured on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) for short-term instruments fell across the board, with the 7-day Shibor dropping below 1.5%, specifically, the overnight Shibor decreased by 0.70 basis points to 1.4660%, and the 7-day Shibor fell by 3.90 basis points to 1.4950% [1] Interbank Repo Market - In the interbank pledged repo market, various instruments saw slight declines, with the 7-day rates experiencing both volume and price drops. The weighted average rates for DR001 and R001 fell by 1.0 basis points and 4.3 basis points, respectively, with transaction volumes increasing by 168.2 billion yuan and 229.4 billion yuan [3] - The weighted average rates for DR007 and R007 decreased by 5.4 basis points and 4.2 basis points, with transaction volumes decreasing by 10.5 billion yuan and 129.7 billion yuan, respectively [3] Money Market Trends - The money market showed a balanced but slightly tight situation in the morning, which shifted to a looser state after the open market operations. Overnight pledged rates for certificates of deposit traded around 1.60%-1.65%, while 7-day rates were around 1.55%-1.57% [7] - By the afternoon, the money market maintained a balanced to slightly loose stance, with overnight pledged rates dropping to as low as 1.45% [7] Green Finance Initiatives - The State Administration of Foreign Exchange has decided to pilot green foreign debt business in 16 provinces and cities, encouraging non-financial enterprises to use cross-border financing for green or low-carbon transformation projects. This initiative aims to enhance the financing scale for such projects and streamline the registration process for foreign debt [9] Housing Fund Policy - The Chengdu Housing Provident Fund Management Committee issued a notice optimizing housing provident fund policies, including lowering down payment ratios, increasing loan limits, and supporting various housing-related financial activities [10]