货币市场日报：9月15日

Monetary Policy Operations - The People's Bank of China conducted a 280 billion yuan 7-day reverse repurchase operation with an interest rate of 1.40%, unchanged from previous levels, resulting in a net injection of 88.5 billion yuan after 191.5 billion yuan of reverse repos matured on the same day [1] Interbank Offered Rates - The Shanghai Interbank Offered Rate (Shibor) saw slight increases in the overnight and 7-day rates, with the overnight Shibor rising by 4.10 basis points to 1.4080% and the 7-day Shibor increasing by 1.00 basis point to 1.4700%. The 14-day Shibor, however, decreased by 2.00 basis points to 1.5040% [2][3] Repo Market Activity - In the interbank pledged repo market, most rates experienced slight increases. The weighted average rates for DR001 and R001 rose by 4.9 basis points and 5.0 basis points, respectively, to 1.414% and 1.4474%. The transaction volumes for DR001 increased by 36.9 billion yuan, while R001 saw a decrease of 146.5 billion yuan [6] Market Stability - The funding environment remained balanced on September 15, with overnight transaction rates for collateralized deposits ranging from 1.46% to 1.48%. The 7-day transactions were stable, with rates around 1.46% [11] Interbank Certificate of Deposit Issuance - On September 15, a total of 99 interbank certificates of deposit were issued, with an actual issuance volume of 170.59 billion yuan, indicating a positive trading sentiment in the primary market [11][12] Financial Education Initiatives - The Financial Regulatory Bureau, People's Bank of China, and China Securities Regulatory Commission launched a financial education campaign aimed at enhancing consumer awareness and understanding of financial products and services [14] Cross-Border RMB Transactions - In the first seven months of the year, the total amount of cross-border RMB transactions in Shanghai reached 18.83 trillion yuan, with foreign-related income and expenditure totaling 3.26 trillion USD. The establishment of a one-stop account opening platform for foreign institutions aims to facilitate their entry into the bond market [15]