央行，10000亿大动作！就在周五→

Core Viewpoint - The People's Bank of China (PBOC) is set to conduct a 1 trillion yuan buyout reverse repurchase operation, aimed at maintaining liquidity in the banking system as the year-end approaches [1][2]. Group 1: Reverse Repo Operations - The PBOC will carry out a 1 trillion yuan buyout reverse repo operation with a term of 3 months (91 days) on December 5, which will be an equivalent rollover of the same amount maturing this month [1]. - The operation will utilize a fixed quantity, interest rate bidding, and multiple price bidding methods, reflecting the true demand for funds from institutions [2]. - The December operation is expected to support the funding environment across year-end, preventing liquidity gaps due to maturing funds [2]. Group 2: Market Analysis and Expectations - Analysts suggest that the current liquidity environment in December is stable, similar to previous months, with fewer disturbances [2]. - There is a potential tightening pressure on liquidity in December due to a large amount of interbank certificates maturing and the Ministry of Finance issuing local government debt limits [2]. - The PBOC's strategy of "short-term collection and long-term release" has been evident, with a net injection of 650 billion yuan in medium to long-term liquidity in November, while simultaneously withdrawing 556.2 billion yuan through 7-day reverse repos [3].