Group 1 - The People's Bank of China conducted a 170.7 billion yuan 7-day reverse repurchase operation at an interest rate of 1.40%, maintaining the previous rate, resulting in a net withdrawal of 55.5 billion yuan due to 226.2 billion yuan of reverse repos maturing on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) for overnight and 7-day tenors decreased, while the 14-day tenor saw a slight increase. Specifically, the overnight Shibor fell by 9.60 basis points to 1.3660%, and the 7-day Shibor decreased by 1.70 basis points to 1.4770% [1][2] - In the interbank pledged repo market, various rates continued to decline, with the 7-day rate dropping below 5%. The weighted average rates for DR001 and R001 fell by 9.6 basis points and 8.7 basis points, respectively, with transaction volumes increasing significantly [6] Group 2 - The funding environment on July 21 was characterized by a loose liquidity situation, with overnight and 7-day transactions settling around 1.48% and 1.47%, respectively. The lowest overnight rate reached 1.35% by the end of the trading day [11] - A total of 95 interbank certificates of deposit were issued on July 21, with an actual issuance volume of 187.56 billion yuan [12] - The loan market quoted interest rates (LPR) were reported at 3.0% for 1-year and 3.5% for 5-year and above, remaining effective until the next announcement [14]

Group 1 - The People's Bank of China conducted a 1,875 billion yuan 7-day reverse repurchase operation on July 18, maintaining an interest rate of 1.40%, resulting in a net injection of 1,028 billion yuan after 847 billion yuan of reverse repos matured on the same day [1] - For the week, the People's Bank of China executed a total of 17,268 billion yuan in 7-day reverse repos, leading to a total net injection of 12,011 billion yuan after accounting for 4,257 billion yuan in reverse repos and 1,000 billion yuan in 1-year MLF maturing [1] - The Shanghai Interbank Offered Rate (Shibor) remained stable, with the overnight Shibor decreasing by 0.10 basis points to 1.4620%, and the 7-day Shibor down by 1.00 basis points to 1.4940% [1] Group 2 - The overnight funding rate in the interbank pledged repo market fell below 1.5%, while the 14-day funding rate saw a slight increase. The weighted average rates for DR001 and R001 decreased by 0.7 basis points and 2.4 basis points, respectively, with transaction volumes dropping significantly [1] - The overall funding environment on July 18 was balanced and slightly loose, with overnight rates stabilizing around 1.48%-1.50% and 7-day rates remaining stable [10] - A total of 169 interbank certificates of deposit were issued on July 18, with an actual issuance volume of 2,617.7 billion yuan, reflecting active trading sentiment in the primary market [11] Group 3 - The Financial Regulatory Administration held a meeting emphasizing the need to advance the reform of small and medium financial institutions and effectively prevent and resolve key area risks [14] - The People's Bank of China is soliciting opinions on the "Interbank Market Brokerage Business Management Measures (Draft for Comments)," which includes 26 articles focusing on the types and scope of brokerage institutions and risk isolation requirements [14] - The People's Bank of China is also seeking feedback on the draft supervision and management measures for financial institutions regarding anti-money laundering and anti-terrorist financing, detailing regulatory responsibilities and requirements [14]

Monetary Policy Operations - The People's Bank of China conducted a 7-day reverse repurchase operation of 450.5 billion yuan at an interest rate of 1.40%, maintaining the previous rate [1] - With 90 billion yuan of 7-day reverse repos maturing on the same day, the net injection into the market was 360.5 billion yuan [1] Interbank Offered Rates - The Shanghai Interbank Offered Rate (Shibor) remained stable, with the overnight Shibor decreasing by 0.30 basis points to 1.4630%, while the 7-day Shibor remained unchanged at 1.5040% [1][2] - The 14-day Shibor decreased by 0.60 basis points to 1.5530% [2] Short-term Funding Rates - In the interbank pledged repo market, short-term funding rates showed minimal fluctuations, with DR001 and R001 weighted average rates decreasing by 0.5 basis points and 0.1 basis points, respectively [5] - The transaction volume for DR001 increased by 207.3 billion yuan, while R001's transaction volume rose by 194.9 billion yuan [5] Market Sentiment - Overall, the funding environment was balanced and slightly loose, with overnight pledged repo transactions occurring at rates around 1.55-1.58% [13] - The issuance of interbank certificates of deposit was active, with 43 certificates issued on July 17, totaling 51.32 billion yuan [13][14]

Group 1 - The People's Bank of China conducted a 520.1 billion yuan reverse repurchase operation with a 7-day term at an interest rate of 1.40%, maintaining the previous rate, resulting in a net injection of 444.6 billion yuan after 75.5 billion yuan of reverse repos matured on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) showed a downward trend, with the overnight Shibor decreasing by 6.90 basis points to 1.4660%, the 7-day Shibor down by 4.20 basis points to 1.5040%, and the 14-day Shibor down by 2.00 basis points to 1.5590% [1][2] Group 2 - In the interbank pledged repo market, overnight rates increased in volume but decreased in price, with the weighted average rates for DR001 and R001 falling by 6.1 basis points and 6.2 basis points to 1.4689% and 1.5129%, respectively, while transaction volumes rose by 180.3 billion yuan and 144.1 billion yuan [5] - The overall funding situation was balanced throughout the day, with demand from banking institutions remaining strong, and the prices for overnight and 7-day repos stabilizing around 1.50% and 1.50%, respectively [11] - As of July 16, 127 interbank certificates of deposit were issued, with a total issuance amount of 301.24 billion yuan, indicating a weak trading sentiment in the primary market except for the 1-month maturity [12]

Group 1 - The funding environment on July 15 shifted from tight to loose, with overnight rates rising above 1.5% and increased transaction volumes for 7D and 14D products [1][11] - The People's Bank of China conducted a 342.5 billion yuan 7-day reverse repo operation at a rate of 1.40%, maintaining the previous level, resulting in a net injection of 173.5 billion yuan into the market [1][14] - The Shanghai Interbank Offered Rate (Shibor) for overnight loans rose by 12.00 basis points to 1.5350%, while the 7-day and 14-day Shibor increased by 3.10 and 4.40 basis points, respectively [2][5] Group 2 - In the interbank pledged repo market, overnight rates exceeded 1.5%, with the weighted average rates for DR001 and R001 rising by 10.6 and 9.1 basis points, respectively [5][8] - The total transaction volume for DR001 decreased by 10.7 billion yuan, while R001 saw an increase of 42.5 billion yuan [5][8] - The primary market for negotiable certificates of deposit (NCDs) showed strong trading sentiment, particularly for 3-month and 1-year maturities, with a total issuance of 134.2 billion yuan on July 15 [12][14] Group 3 - The China Banking and Insurance Regulatory Commission issued new regulations for local asset management companies, limiting their investment balances with single clients and related parties to a percentage of their net assets [14] - China Pacific Insurance reported a 9.7% year-on-year increase in original insurance premium income for its life insurance subsidiary, totaling 168.01 billion yuan, while its property insurance subsidiary saw a 0.9% increase to 113.99 billion yuan [14]

Monetary Policy Operations - The People's Bank of China conducted a 847 billion yuan reverse repurchase operation with a rate of 1.40%, maintaining the previous level; with 340 billion yuan of reverse repos maturing, the net injection was 507 billion yuan [1] - This week, the central bank performed a total of 4,257 billion yuan in reverse repos, with 6,522 billion yuan maturing, resulting in a net withdrawal of 2,265 billion yuan [1] Interbank Rates - The Shanghai Interbank Offered Rate (Shibor) showed low volatility; overnight Shibor rose by 1.70 basis points to 1.3330%, while the 7-day Shibor increased by 0.10 basis points to 1.4750%, and the 14-day Shibor went up by 1.60 basis points to 1.5140% [1][2] - The short-term funding rates in the interbank pledged repo market exhibited mixed movements; DR001 and R001 weighted average rates increased by 2.0 basis points and 1.7 basis points, respectively, while DR007 and R007 rates decreased by 2.3 basis points and 1.2 basis points [5] Market Conditions - The overall funding situation on July 11 was balanced, with non-bank entities being relatively loose while banks were tighter; overnight pledged rate certificates traded around 1.48%-1.50% [10] - A total of 120 interbank certificates were issued on July 11, with an actual issuance volume of 1,635.9 billion yuan; the primary market saw active trading with issuers raising prices [11] Financial Products and Regulations - The National Financial Regulatory Administration released the "Management Measures for the Appropriateness of Financial Institution Products," emphasizing the need for financial institutions to collect customer information responsibly and protect customer data [13] - As of the end of May, the balance of Shanghai's foreign and domestic currency loans was 12.73 trillion yuan, reflecting a year-on-year growth of 8.6%, while deposits reached 22.33 trillion yuan, up 5.7% year-on-year [14]

Monetary Policy and Market Operations - The People's Bank of China conducted a 900 billion yuan reverse repurchase operation with a rate unchanged at 1.40%, resulting in a net injection of 328 billion yuan after 572 billion yuan matured on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) showed slight fluctuations, with overnight Shibor rising by 0.30 basis points to 1.3160%, and 7-day Shibor increasing by 1.00 basis points to 1.4740% [1] Interbank Repo Market - In the interbank pledged repo market, short-term funding rates increased slightly, with DR001 and R001 weighted average rates rising by 0.6 basis points and 1.1 basis points to 1.3227% and 1.387% respectively, while transaction volumes decreased by 637 billion yuan and 428 billion yuan [4] - DR007 and R007 weighted average rates increased by 1.8 basis points and 1.7 basis points to 1.4945% and 1.5208%, with transaction volumes decreasing by 59 billion yuan and 361 billion yuan [4] Funding Conditions - Early morning funding conditions were balanced but slightly tight, gradually easing after the open market operations, with overnight repo rates trading around 1.48%-1.50% [10] - By the afternoon, funding conditions shifted to a balanced to slightly loose state, with overnight repo rates dropping to a minimum of 1.40% [10] Interbank Certificates of Deposit - On July 10, there were 47 interbank certificates of deposit issued, with a total issuance amount of 238.9 billion yuan, indicating active trading sentiment [11] - The secondary market saw prices entering an upward channel, with the one-year government bond yield surpassing 1.62% to around 1.625% [11]

上海银行间同业拆放利率（Shibor）延续窄幅波动。具体来看，隔夜Shibor与前日持平，报1.3120%；7天Shibor下跌0.30BP，报1.4550%；14天Shibor上涨 0.60BP，报1.5000%。 | | | | 2025-07-08 11:00 | | --- | --- | --- | --- | | | 期限 | Shibor(%) | 涨跌(BP) | | 价 | O/N | 1.3120 | 0.00 | | 中 | 1W | 1.4550 | 0.30 | | � | 2W | 1.5000 | 0.60 | | � | 1M | 1.5460 | 1.10 | | 中 | 3M | 1.5700 | 0.90 | | ゃ | 6M | 1.5970 | 0.30 | | 价 | 9M | 1.6090 | 0.30 | | 价 | 1Y | 1.6120 | 0.40 | 新华财经北京7月8日电（刘润榕）人民银行8日开展690亿元7天期逆回购操作，操作利率持平1.40%；鉴于当日有1310亿元7天期逆回购到期，公开市场实 现净回笼620元。 上海银行间同业拆放利率（7月8日） ...

Group 1 - The People's Bank of China (PBOC) conducted a 340 billion yuan reverse repurchase operation with an interest rate of 1.40%, maintaining the previous level, resulting in a net withdrawal of 4,919 billion yuan due to 5,259 billion yuan of reverse repos maturing on the same day [1] - For the week, the PBOC executed a total of 6,522 billion yuan in reverse repos, with 20,275 billion yuan maturing, leading to a cumulative net withdrawal of 13,753 billion yuan [1] - The Shanghai Interbank Offered Rate (Shibor) for various tenors has been declining, with the overnight Shibor down by 0.20 basis points to 1.3130%, and the 7-day Shibor down by 3.30 basis points to 1.4230% [1] Group 2 - In the interbank pledged repo market, the rate declines have slowed, with the overnight weighted average rates for DR001 and R001 down by 0.1 basis points and 1.1 basis points, respectively, while transaction volumes increased significantly [4] - The overall funding environment on July 4 was described as relaxed, with overnight rates for various transactions showing a downward trend, indicating a continued loose monetary condition [8] - As of July 4, there were 114 interbank certificates of deposit issued, with an actual issuance volume of 124.64 billion yuan, reflecting active market participation [9]

Monetary Policy Operations - The People's Bank of China conducted a 985 billion yuan reverse repurchase operation with a rate of 1.40%, unchanged from previous levels, resulting in a net withdrawal of 2,668 billion yuan due to 3,653 billion yuan of reverse repos maturing on the same day [1][12] Interbank Offered Rates - The Shanghai Interbank Offered Rate (Shibor) saw a slight decline across various maturities, with the 7-day Shibor falling below 1.5%. Specifically, the overnight Shibor decreased by 0.20 basis points to 1.3650%, the 7-day Shibor dropped by 3.30 basis points to 1.4970%, and the 14-day Shibor fell by 1.50 basis points to 1.5540% [1][2][3] Repo Market Activity - In the interbank pledged repo market, short-term rates continued to decline slightly. The weighted average rates for DR001 and R001 fell by 0.8 basis points and 3.0 basis points, respectively, to 1.3597% and 1.4191%, with transaction volumes decreasing for DR001 and increasing for R001. Similarly, DR007 and R007 rates decreased by 4.0 basis points and 4.9 basis points, respectively [4][9] Funding Conditions - Overall funding conditions remained loose, with overnight rates trading in the range of 1.30%-1.55% and 7-day rates around 1.53%-1.58%. By the end of the trading day, the overnight rates had further eased to around 1.30% [9][10] Interbank Certificate of Deposit Issuance - On July 2, there were 50 interbank certificates of deposit issued, with a total issuance amount of 770.3 million yuan, indicating active market participation [9][10]