Monetary Policy Operations - The People's Bank of China conducted a 7-day reverse repurchase operation of 220.5 billion yuan at a steady interest rate of 1.40%, resulting in a net withdrawal of 21.5 billion yuan after 242 billion yuan of reverse repos matured on the same day [1] - An additional 100 billion yuan in treasury cash deposits is set to mature on the same day [1] Interbank Offered Rates - The Shanghai Interbank Offered Rate (Shibor) for short-term instruments showed a slight decline, with overnight Shibor down by 0.10 basis points to 1.3670%, 7-day Shibor down by 3.20 basis points to 1.4970%, and 14-day Shibor down by 0.60 basis points to 1.7130% [1][2] Repo Market Activity - In the interbank pledged repo market, most rates continued to decline, except for a slight increase in DR007. Specifically, the weighted average rates for DR001 and R001 fell by 0.4 basis points and 0.8 basis points to 1.3704% and 1.4394%, respectively, with transaction volumes decreasing by 602 billion yuan and 723 billion yuan [4] - The weighted average rates for DR007 increased by 1.3 basis points to 1.5075%, while R007 decreased by 2.8 basis points to 1.5629%, with transaction volumes decreasing by 394 billion yuan and 301.2 billion yuan, respectively [4] Funding Market Conditions - The overall funding environment on June 23 was balanced, with major banks lending funds. The rates for pledged deposits were around 1.52% to 1.57%, while 7-day pledged deposits were around 1.55% [9] - By the end of the day, the lowest transaction rates for overnight pledged deposits were recorded at 1.40% and for pledged deposits at 1.48%, maintaining a loose stance until the market closed [9] Interbank Certificate of Deposit Issuance - As of 5:30 PM on June 23, there were 102 interbank certificates of deposit issued, with a total issuance amount of 225.12 billion yuan. The trading was particularly active for short-term deposits, although sentiment slightly cooled in the afternoon [10] - The yields for various maturities showed slight increases compared to the previous Friday, with 1-month national bank deposits ending at 1.63%, 3-month at 1.61%, and 6-month at 1.625% [10]