央行开展1万亿买断式逆回购操作，流动性投放量为三个月内最高

Group 1 - The People's Bank of China (PBOC) announced a 1 trillion yuan reverse repo operation to maintain ample liquidity in the banking system, with a fixed quantity and multi-price bidding method, set for February 13, 2026, with a term of 6 months [1] - The PBOC will achieve a net liquidity injection of 500 billion yuan due to the maturity of a 6-month reverse repo in February, alongside an additional 800 billion yuan 3-month reverse repo operation conducted on February 4, leading to a total net liquidity injection of 600 billion yuan for the month [1] - This marks the ninth consecutive month that the PBOC has injected medium-term liquidity into the market through reverse repos, reflecting a continuation of the "moderately accommodative" monetary policy stance [1] Group 2 - Analysts suggest that the PBOC's actions through reverse repos and Medium-term Lending Facility (MLF) operations have effectively maintained market liquidity and improved the maturity structure of liquidity, ensuring stability in the financial market at the year's end [2] - It is anticipated that the PBOC will conduct an MLF operation around February 25, likely maintaining or slightly increasing the amount injected [2]