1.4万亿！央行公布

Core Viewpoint - The People's Bank of China (PBOC) is implementing a buyout reverse repurchase operation of 1.4 trillion yuan to maintain liquidity in the banking system, indicating a proactive approach to managing monetary policy and liquidity conditions in the market [1][4]. Group 1: Reverse Repurchase Operations - On July 15, the PBOC will conduct a buyout reverse repurchase operation with a total amount of 1.4 trillion yuan, consisting of 800 billion yuan for 3-month (91 days) and 600 billion yuan for 6-month (182 days) [1][2]. - This week, 4.257 trillion yuan of reverse repos will mature, with specific amounts maturing each day, indicating a significant liquidity event in the market [4]. Group 2: Monetary Policy and Economic Support - The PBOC reported that the effects of monetary policy on supporting the real economy are evident, with social financing stock growing by 8.9% year-on-year, M2 increasing by 8.3%, and RMB loans rising by 7.1% as of the end of June [5]. - The central bank emphasized that the transmission of monetary policy takes time, and the effects of already implemented policies will continue to manifest [5]. - Moving forward, the PBOC plans to further implement a moderately loose monetary policy and enhance the execution of existing measures to improve financial services for the real economy [5].