上海银行间同业拆放利率

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货币市场日报:7月28日
Xin Hua Cai Jing· 2025-07-28 12:49
Group 1 - The People's Bank of China conducted a 7-day reverse repurchase operation of 495.8 billion yuan at an interest rate of 1.40%, resulting in a net injection of 325.1 billion yuan after 170.7 billion yuan of reverse repos matured on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) for overnight and 7-day terms decreased slightly, with overnight Shibor down by 5.30 basis points to 1.4670% and 7-day Shibor down by 2.40 basis points to 1.5960% [1][2] - The overnight and 7-day repo rates also saw declines, with the weighted average rates for DR001 and R001 down by 5.5 basis points and 6.2 basis points, respectively, while DR007 and R007 rates decreased by 7.2 basis points and 6.7 basis points [5] Group 2 - The interbank market showed a balanced funding situation in the morning, transitioning to a looser environment later in the day, with overnight rates for collateralized deposits dropping to around 1.50% [13] - A total of 77 interbank certificates of deposit were issued on July 28, with an actual issuance volume of 132.81 billion yuan, indicating active market participation despite cautious sentiment [14] - The insurance industry reported a premium income of 3.735 trillion yuan in the first half of the year, reflecting a year-on-year growth of 5.3%, with life insurance companies showing particularly strong performance in June [16]
货币市场日报:7月14日
Xin Hua Cai Jing· 2025-07-14 14:48
Core Viewpoint - The People's Bank of China (PBOC) conducted a 7-day reverse repurchase operation of 226.2 billion yuan at an interest rate of 1.40%, maintaining the previous rate, resulting in a net injection of 119.7 billion yuan into the market after accounting for 106.5 billion yuan of reverse repos maturing on the same day [1]. Group 1: Market Rates - The Shanghai Interbank Offered Rate (Shibor) showed a slight increase, with overnight Shibor rising by 8.20 basis points to 1.4150%, 7-day Shibor up by 4.00 basis points to 1.5150%, and 14-day Shibor increasing by 2.10 basis points to 1.5350% [2][3]. - In the interbank pledged repo market, overnight rates rose slightly above 1.4%, with DR001 and R001 weighted average rates increasing by 8.1 basis points and 8.0 basis points, respectively, to 1.424% and 1.4837% [4]. Group 2: Funding Conditions - The funding environment on July 14 was characterized as balanced but slightly tight, with increased borrowing demand from banking institutions compared to the previous week. Overnight rates for collateralized deposits were around 1.50%, while 7-day rates were near 1.53% [10]. - By the end of the day, the overnight collateralized deposit rates stabilized around 1.55%, with 7-day rates climbing to between 1.55% and 1.58% [10]. Group 3: Interbank Certificates of Deposit - On July 14, there were 96 interbank certificates of deposit issued, with a total issuance amount of 177.94 billion yuan. The trading sentiment was less active than expected due to tax periods and market expectations [11]. - The secondary market for certificates of deposit maintained an upward trend, with the 1-year large bank deposit rate stabilizing around 1.6375% by the end of the day [11]. Group 4: Monetary Supply and Financing - As of the end of June, the broad money supply (M2) stood at 330.29 trillion yuan, reflecting a year-on-year growth of 8.3%. The narrow money supply (M1) was 113.95 trillion yuan, up 4.6% year-on-year [13]. - The total social financing scale for the first half of 2025 reached 22.83 trillion yuan, an increase of 4.74 trillion yuan compared to the same period last year [13].
货币市场日报:6月20日
Xin Hua Cai Jing· 2025-06-20 12:44
Group 1 - The People's Bank of China conducted a 161.2 billion yuan 7-day reverse repurchase operation at an interest rate of 1.40%, maintaining the previous rate; with 202.5 billion yuan of reverse repos maturing on the same day, the net withdrawal from the open market was 41.3 billion yuan [1] - This week, the total amount of 7-day reverse repurchase operations conducted by the People's Bank of China reached 960.3 billion yuan, with 1,040.2 billion yuan of reverse repos maturing, resulting in a total net withdrawal of 79.9 billion yuan from the open market [1] - The Shanghai Interbank Offered Rate (Shibor) for short-term products saw a slight increase, with overnight Shibor rising by 0.10 basis points to 1.3680%, 7-day Shibor increasing by 0.50 basis points to 1.5290%, and 14-day Shibor up by 6.10 basis points to 1.7190% [1][2] Group 2 - In the interbank pledged repo market, overnight funding rates remained low, while the price spread for 7-day and 14-day funds widened; the weighted average rates for DR001 and R001 increased by 0.3 basis points and 0.7 basis points, respectively, to 1.3742% and 1.4478%, with transaction volumes decreasing by 25.5 billion yuan and 147.7 billion yuan [4] - The weighted average rates for DR007 and R007 decreased by 5.0 basis points and 1.1 basis points, respectively, to 1.4941% and 1.591%, with transaction volumes increasing by 15.7 billion yuan and decreasing by 43.1 billion yuan [4] - The overall trading sentiment in the interbank certificate of deposit market was active, with 133 certificates issued on June 20, amounting to an actual issuance of 170.44 billion yuan; the secondary market showed stable yields compared to the previous day's close [11]
货币市场日报:6月13日
Xin Hua Cai Jing· 2025-06-13 13:40
Core Viewpoint - The People's Bank of China (PBOC) conducted a 2025 billion yuan reverse repurchase operation with a stable interest rate of 1.40%, resulting in a net injection of 675 billion yuan into the market after accounting for 1350 billion yuan of reverse repos maturing on the same day [1] Group 1: Monetary Policy Operations - This week, the PBOC carried out a total of 8582 billion yuan in reverse repurchase operations, with 9309 billion yuan maturing, leading to a total net withdrawal of 727 billion yuan from the open market [1] - The overnight Shanghai Interbank Offered Rate (Shibor) increased by 4.40 basis points to 1.4110%, while the 7-day Shibor decreased by 1.30 basis points to 1.5080% [2][3] - The 14-day Shibor rose by 0.80 basis points to 1.5430% [2] Group 2: Interbank Repo Market - In the interbank pledged repo market, the weighted average rates for overnight and 14-day repos increased by 4.0 basis points and 0.5 basis points, respectively, while the 7-day repo rate decreased by 3.7 basis points [4] - The transaction volumes for overnight and 7-day repos decreased by 635 billion yuan and 2608 billion yuan, respectively [4] Group 3: Money Market Conditions - The money market showed a relatively loose liquidity condition on June 13, with overnight rates dropping to around 1.48% by the end of the trading day [9] - A total of 122 interbank certificates of deposit were issued, with an actual issuance amount of 1354.4 billion yuan [10] Group 4: Financial Statistics - As of the end of May 2025, the broad money supply (M2) stood at 325.78 trillion yuan, reflecting a year-on-year growth of 7.9% [12] - The total social financing scale reached 426.16 trillion yuan by the end of May, with a year-on-year increase of 8.7% [13]
货币市场日报:5月28日
Xin Hua Cai Jing· 2025-05-28 12:36
Group 1 - The People's Bank of China conducted a 215.5 billion yuan reverse repurchase operation with an interest rate steady at 1.40%, resulting in a net injection of 58.5 billion yuan after 157 billion yuan of reverse repos matured on the same day [1] - The overnight Shibor decreased by 4.10 basis points to 1.4110%, while the 7-day Shibor fell by 2.00 basis points to 1.5780%. The 14-day Shibor saw a slight increase of 0.20 basis points to 1.6690% [1][2] - In the interbank pledged repo market, overnight rates continued to decline, while the 14-day rates saw a slight increase. The weighted average rates for DR001 and R001 fell by 3.4 basis points and 3.2 basis points, respectively [4] Group 2 - The interbank funding market showed a balanced and slightly loose trend, with overnight pledged rates for certificates of deposit trading at 1.48%-1.50% by the end of the day, indicating a generally loose liquidity environment [10] - As of 5:30 PM on May 28, there were 80 interbank certificates of deposit issued, with a total issuance amount of 96.56 billion yuan [10] - The issuance of local government bonds reached 353.54 billion yuan in the first four months of the year, with an average issuance term of 16.9 years and an average interest rate of 1.96% [13]