货币市场日报：9月12日

Core Points - The People's Bank of China (PBOC) conducted a 230 billion yuan reverse repurchase operation on September 12, maintaining the operation rate at 1.40% [1] - A total of 1,961 billion yuan was net injected into the market this week, with 12,645 billion yuan in reverse repos conducted and 10,684 billion yuan maturing [1] - The overnight and 7-day Shanghai Interbank Offered Rate (Shibor) slightly decreased, while the 14-day Shibor saw a minor increase [1][2] Monetary Market Rates - In the interbank pledged repo market, most rates experienced slight declines, with R007 transaction share dropping to 9.5% [3] - The weighted average rates for DR001 and R001 decreased by 0.6 basis points and 1.1 basis points, respectively, with transaction volumes dropping significantly [3] - The weighted average rates for DR007 and R007 also fell, while DR014 saw a slight increase [3] Funding Conditions - The funding environment was reported to be loose, with overnight and 7-day rates showing a downward trend [7] - The issuance of interbank certificates of deposit reached 154.03 billion yuan on September 12, with a generally positive trading sentiment in the primary market [8] Financial Statistics - As of the end of August, the broad money supply (M2) stood at 331.98 trillion yuan, growing by 8.8% year-on-year [10] - The total social financing stock was reported at 433.66 trillion yuan, also reflecting an 8.8% year-on-year increase [11] - The cumulative increase in social financing for the first eight months was 26.56 trillion yuan, surpassing the previous year's figures [12]