中国人民银行调整14天期逆回购操作规则

Core Viewpoint - The People's Bank of China has announced a change in the operation of the 14-day reverse repurchase agreement to a fixed quantity, interest rate bidding, and multiple price bidding, aimed at maintaining ample liquidity in the banking system and better meeting the differentiated funding needs of various participating institutions [1] Group 1 - The adjustment allows for a more market-oriented pricing mechanism, reflecting the differentiated funding demands of institutions [1] - The operation time and scale of the 14-day reverse repurchase will be determined based on liquidity management needs [1] - This change is expected to enhance the precision and efficiency of liquidity management within the banking system [1] Group 2 - The new approach is anticipated to strengthen the policy position of the 7-day reverse repurchase operation interest rate [1]