货币市场日报：9月26日

Core Points - The People's Bank of China (PBOC) conducted a 7-day reverse repo operation of 165.8 billion yuan at an interest rate of 1.40% and a 14-day reverse repo operation of 600 billion yuan, resulting in a net injection of 411.5 billion yuan into the market [1] - This week, the PBOC has executed a total of 1.5674 trillion yuan in 7-day reverse repos, 900 billion yuan in 14-day reverse repos, and 600 billion yuan in Medium-term Lending Facility (MLF) operations, leading to a net injection of 940.6 billion yuan [1] - The Shanghai Interbank Offered Rate (Shibor) for overnight and 7-day tenors has decreased significantly, while the 14-day tenor has seen a slight increase [1][2] Interest Rate Summary - The overnight Shibor fell by 15.10 basis points to 1.3210% [3] - The 7-day Shibor decreased by 8.30 basis points to 1.5010% [3] - The 14-day Shibor increased by 2.10 basis points to 1.6460% [3] Repo Market Overview - In the repo market, the weighted average rates for overnight and 7-day repos have decreased, while the 14-day repos saw a slight increase [5] - The weighted average rate for overnight repos (DR001) fell by 15.7 basis points to 1.3182%, with a transaction volume decrease of 507.3 billion yuan [5] - The weighted average rate for 7-day repos (R001) decreased by 18.5 basis points to 1.3344%, with a transaction volume decrease of 3.641 trillion yuan [5] Market Conditions - The funding environment was balanced in the morning and slightly loose in the afternoon, with overnight transactions around 1.40%-1.45% [9] - A total of 34 interbank certificates of deposit were issued on September 26, with an actual issuance amount of 52 billion yuan [9][10] Regulatory Developments - The PBOC, along with the China Securities Regulatory Commission and the State Administration of Foreign Exchange, announced support for foreign institutional investors to engage in bond repurchase transactions in the Chinese bond market [12] - The Hong Kong Monetary Authority announced similar support for foreign investors participating in onshore bond repurchase transactions, enhancing liquidity access [12]