央行：2025年同业拆借日均成交3610.7亿元，较2024年减少12.1%

Core Insights - The central bank released the financial market operation situation for 2025, indicating a mixed performance in interbank lending and bond repurchase markets [1] Group 1: Interbank Lending - The average daily transaction volume of interbank lending in 2025 was 361.07 billion yuan, a decrease of 12.1% compared to 2024 [1] - The outstanding balance of interbank lending at the end of 2025 was 1.0 trillion yuan [1] Group 2: Bond Repurchase Market - The average daily transaction volume of bond repurchase in the interbank market reached 6.9 trillion yuan in 2025, an increase of 3.0% from 2024 [1] - The outstanding balance of bond repurchase agreements in the interbank market at the end of 2025 was 12.0 trillion yuan [1] Group 3: Interest Rates - The annual weighted average interest rate for overnight pledged repos (DR001) in 2025 was 1.46%, down 19 basis points from 2024 [1] - The annual weighted average interest rate for DR007 was 1.63%, also down 19 basis points from 2024 [1] - The annual weighted average interest rate for overnight repos (R001) was 1.55%, a decrease of 21 basis points from 2024 [1] - The average daily spread between DR001 and the central bank's 7-day reverse repurchase operation rate was 7 basis points, while the average daily spread between R001 and DR001 was 8 basis points [1]