货币市场日报：10月30日

Monetary Policy and Market Operations - The People's Bank of China conducted a 7-day reverse repurchase operation of 342.6 billion yuan at an interest rate of 1.40%, maintaining the previous rate; with 212.5 billion yuan of reverse repos maturing, the net injection into the market was 130.1 billion yuan [1] - The Shanghai Interbank Offered Rate (Shibor) for short-term instruments continued to decline, with the overnight Shibor falling by 9.70 basis points to 1.3170%, and the 7-day Shibor decreasing by 2.80 basis points to 1.4840% [1][2] Interbank Repo Market - In the interbank pledged repo market, all varieties continued to decline, with R007 and R014 still inverted; the transaction share of R007 rose to 16.8%. The weighted average rates for DR001 and R001 fell by 9.3 basis points and 6.8 basis points, respectively, while transaction volumes decreased by 240.8 billion yuan and 198.8 billion yuan [4] - The weighted average rates for DR007 and R007 decreased by 4.3 basis points and 3.0 basis points, respectively, with transaction volumes increasing by 31.8 billion yuan and 275.2 billion yuan [4] Funding Conditions - On October 30, the funding environment appeared relatively loose, with major banks lending out funds, maintaining a generous supply. Overnight transactions were around 1.48%, with 7-day transactions in the range of 1.55% [9] - By the afternoon, the funding rates remained stable, with overnight transactions around 1.35% and 7-day transactions between 1.50% and 1.54% [9] Bank Performance Reports - China Construction Bank reported Q3 revenue of 179.43 billion yuan, a year-on-year decrease of 1.98%, and a net profit of 95.28 billion yuan, an increase of 4.19%. For the first three quarters, revenue was 573.70 billion yuan, up 0.82%, and net profit was 257.36 billion yuan, up 0.62% [12] - Industrial and Commercial Bank of China announced Q3 revenue of 201.89 billion yuan, a year-on-year increase of 2.42%, and a net profit of 101.80 billion yuan, up 3.29%. For the first three quarters, revenue was 610.97 billion yuan, up 1.98%, and net profit was 269.91 billion yuan, up 0.33% [12] - Agricultural Bank of China reported Q3 revenue of 180.98 billion yuan, a year-on-year increase of 4.3%, and a net profit of 81.35 billion yuan, up 3.66%. For the first three quarters, revenue was 550.77 billion yuan, up 1.87%, and net profit was 220.86 billion yuan, up 3.03% [13] - Postal Savings Bank reported Q3 revenue of 85.63 billion yuan, a year-on-year increase of 2.48%, and a net profit of 27.38 billion yuan, up 1.04%. For the first three quarters, revenue was 265.08 billion yuan, up 1.82%, and net profit was 76.79 billion yuan, up 1.07% [13] - Bank of Communications reported Q3 operating income of 66.56 billion yuan, a year-on-year increase of 4.23%, and a net profit of 23.98 billion yuan, up 2.46%. For the first three quarters, operating income was 200.06 billion yuan, up 1.86%, and net profit was 69.99 billion yuan, up 1.9% [14]