人民银行：2025年银行间市场债券回购日均成交6.9万亿元

Core Viewpoint - The People's Bank of China released the financial market operation data for 2025, indicating significant changes in interbank lending and bond repurchase transactions compared to 2024 [1] Group 1: Interbank Lending - The average daily transaction volume of interbank lending in 2025 was 3610.7 billion yuan, a decrease of 12.1% from 2024 [1] - The outstanding balance of interbank lending at the end of 2025 was 1000 billion yuan [1] Group 2: Bond Repurchase Market - The average daily transaction volume of bond repurchase in the interbank market reached 69,000 billion yuan in 2025, an increase of 3.0% from 2024 [1] - The outstanding balance of bond repurchase at the end of 2025 was 12,000 billion 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 repo operation rate was 7 basis points [1] - The average daily spread between R001 and DR001 was 8 basis points [1]