此外，抵押补充贷款（PSL）当月无投放，回笼56亿元，导致净回笼56亿元；其他结构性货币政策工具 投放6389亿元，回笼4795亿元，实现净投放1594亿元。 人民银行网站1月5日消息，央行公布的2025年12月份各项工具流动性投放情况显示，央行各项工具净投 放流动性8028亿元。 | | | 中国人民银行 THE PEOPLE'S BANK OF CHINA | | 货币政策司 Monetary Policy Department | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 配買取 | | 货博被服 | 質の放置 变凝申佩 | 值贷政策 | ▲题章场 | 会副是文 | 清显缓计 | 图们全体 文件保具 | | 信息公开 | 血酸料技 | 人民币 | 外游览库 同国文集 | 人类推象 | 中求安厦 | 任命管理 | 反腐性 | 文康工作 | | 胶备会用 | | 成員評鑑 | 会管管理 同文具属 | 负着特殊 | 量源视剧 | 章节目本 | 用上展厅 | 發骨下家 张刚午落 | | 服务互动 | 网球文件 | 办事大厅 ...

中国人民银行1月5日公布的2025年12月份各项工具流动性投放情况显示，当月，中期借贷便利 （MLF）投放4000亿元，回笼3000亿元，实现净投放1000亿元。 投放情况还显示，2025年12月份公开市场国债买卖净投放500亿元，中央国库现金管理净投放100亿元。 此外，7天期逆回购投放35361亿元，回笼34542亿元，实现净投放819亿元。 ...

证券时报各平台所有原创内容，未经书面授权，任何单位及个人不得转载。我社保留追 究相关 行 为主体 法律责任的权利。 转载与合作可联系证券时报小助理，微信ID：SecuritiesTimes END 点击关键字可查看 潜望系列深度报道丨 股事会专栏 丨 投资小红书 丨 e公司调查 丨 时报会客厅 丨 十大明星私募访谈 丨 突发！002715，实控人被抓！ 丨 全线大涨！亚太股市爆发 丨 突破4000点！这一概念，批量涨 停！ 丨 八大交易所，最新发声！ 丨 黑天鹅突袭！影响有多大？ 丨 利好！上海，重大发布！ 丨 300658，明起停牌！重大资产重组 丨 一娃难求→部分破发！"盲盒界的爱马仕"发生了什么？ 丨 巴 菲特，最新发声！ 丨 特朗普：美国将"管理"委内瑞拉！美大型石油公司将进入！威胁古巴、哥伦比 亚…… 来源：金融时报 责编：叶舒筠 校对： 刘榕枝 版权声明 1月5日，央行公布2025年12月各项工具流动性投放情况： 中央银行贷款方面，常备借贷便利（SLF）净投放71亿元；中期借贷便利（MLF）净投放 1000亿元，抵押补充贷款（PSL）净回笼56亿元，其他结构性货币政策工具净投放1594亿 元。 公 ...

此外，7天期逆回购投放35361亿元，回笼34542亿元，实现净投放819亿元。（记者任军、吴雨） 【纠错】 【责任编辑:邱丽芳】 投放情况还显示，2025年12月份公开市场国债买卖净投放500亿元，中央国库现金管理净投放100亿 元。 中国人民银行1月5日公布的2025年12月份各项工具流动性投放情况显示，当月，中期借贷便利 （MLF）投放4000亿元，回笼3000亿元，实现净投放1000亿元。 ...

1月5日，央行公布2025年12月各项工具流动性投放情况： 来源：金融时报客户端 中央银行贷款方面，常备借贷便利（SLF）净投放71亿元；中期借贷便利（MLF）净投放1000亿元，抵押补充贷款（PSL）净回笼56亿元，其他结构性货 币政策工具净投放1594亿元。 公开市场业务方面，7天期逆回购净投放819亿元，其他期限逆回购净投放4000亿元，公开市场国债买卖净投放500亿元，中央国库现金管理净投放100亿 元。 | | 2025年12月中央银行各项工具流动性投放情况 | | | --- | --- | --- | | 字号 | 文章来源:货币政策司 | 2026-01-05 19:00:00 | | | | 打印本页 关闭窗口 | | 工具类型 | 工具名称 | 投放 | 回笼 | 净投放 | | --- | --- | --- | --- | --- | | 准备金 | 调整法定存款准备金率 | - | - | - | | 中央银行贷款 | 常备借贷便利(SLF) | 100 | 29 | 71 | | | 中期借贷便利(MLF) | 4000 | 3000 | 1000 | | | 抵押补充贷款 (PS ...

投放情况还显示，11月份公开市场国债买卖净投放500亿元，中央国库现金管理净投放800亿元。 此外，7天期逆回购投放48056亿元，回笼53618亿元，实现净回笼5562亿元。（记者任军、吴雨） 【纠错】 【责任编辑:马俊卿】 中国人民银行12月2日公布的11月份各项工具流动性投放情况显示，当月，中期借贷便利（MLF）投放 10000亿元，回笼9000亿元，实现净投放1000亿元。 ...

| 工具类型 | 工具名称 | 投放 | 回笼 | 净投放 | | --- | --- | --- | --- | --- | | 准备金 | 调整法定存款准备金率 | - | - | - | | 中央银行贷款 | 常备借贷便利(SLF) | 8 | 11 | -3 | | | 中期借贷便利(MLF) | 10000 | 9000 | 1000 | | | 抵押补充贷款(PSL) | 254 | 0 | 254 | | | 其他结构性货币政策工具 | 6108 | 4958 | 1150 | | 公开市场业务 | 7天期逆回购 | 48056 | 53618 | -5562 | | | 其他期限逆回购 | 15000 | 10000 | 5000 | | | 公开市场国债买卖 | 500 | 0 | 500 | | | 中央国库现金管理 | 2000 | 1200 | 800 | 12月2日，央行发布的2025年11月中央银行各项工具流动性投放情况显示：11月，中央银行贷款方面，常备借贷便利净投放-3亿元，中期借贷便利净投放 1000亿元，抵押补充贷款净投放254亿元，其他结构性货币政策工具净投放1150亿元 ...

Group 1 - The People's Bank of China (PBOC) conducted a 1.378 trillion yuan 7-day reverse repurchase operation at an interest rate of 1.40%, maintaining the previous rate, resulting in a net injection of 1.378 trillion yuan due to no reverse repos maturing on that day [1] - From September 28 to October 11, the central bank's reverse repo net withdrawal reached 1.3304 trillion yuan, with a significant operation of 1.1 trillion yuan 3-month reverse repos announced on October 9, contrasting with a net injection of 300 billion yuan for the month [1] - Despite the large-scale reverse repos maturing after the holiday, funding prices gradually returned to pre-quarter-end levels, with overnight funding rates dropping to 1.33%, down 21 basis points from before the holiday [1] Group 2 - The upcoming week (October 13-17) will see a decrease in reverse repo maturities to 1.021 trillion yuan, with significant amounts maturing on Thursday and Friday, and a total of 8 billion yuan 3-month reverse repos maturing on Tuesday [2] - Analysts expect the funding environment to remain loose, as the central bank's proactive measures and limited government bond net payments will help mitigate external disturbances [2] - The liquidity test in October is anticipated to be concentrated at the end of the month, with tax payment deadlines delayed to October 27, coinciding with the month-end liquidity pressure [3] Group 3 - The PBOC's liquidity injection tools have shifted towards longer-term MLF and reverse repos since the third quarter, reducing the necessity for frequent short-term operations [4] - Despite the increase in reverse repo maturities post-holiday, the central bank's consistent stance on liquidity provision suggests limited impact on the funding environment [4] - Analysts from Citic Securities believe that the liquidity gap in October may be weaker than seasonal trends, with the central bank's monetary policy remaining accommodative [3][4]

Core Insights - The People's Bank of China (PBOC) reported liquidity injection data for August 2025, indicating a mixed approach to monetary policy with both net injections and withdrawals across various tools [1] Group 1: Liquidity Tools Overview - The net injection from the Standing Lending Facility (SLF) was 0.2 billion yuan, while the Medium-term Lending Facility (MLF) saw a net injection of 300 billion yuan [1] - The PBOC conducted a net withdrawal of 160.8 billion yuan through the Pledged Supplementary Lending (PSL) and a net withdrawal of 53.4 billion yuan via short-term reverse repos [1] - A net injection of 300 billion yuan was recorded from the buyout reverse repos, with no public market transactions for government bonds during the month [1] Group 2: Detailed Tool Performance - The SLF had a total lending of 1.6 billion yuan and a repayment of 1.4 billion yuan, resulting in a net injection of 0.2 billion yuan [2] - The MLF had total lending of 600 billion yuan and repayments of 300 billion yuan, leading to a net injection of 300 billion yuan [2] - The PSL had total lending of 4 billion yuan and repayments of 16.12 billion yuan, resulting in a net withdrawal of 160.8 billion yuan [2] - The short-term reverse repos had total lending of 63.146 billion yuan and repayments of 63.680 billion yuan, leading to a net withdrawal of 53.4 billion yuan [2] - The buyout reverse repos had total lending of 12 billion yuan and repayments of 9 billion yuan, resulting in a net injection of 3 billion yuan [2] - The central treasury cash management showed total lending of 1.2 billion yuan and repayments of 2.2 billion yuan, resulting in a net withdrawal of 1 billion yuan [2]

Core Insights - The People's Bank of China (PBOC) reported liquidity conditions for July 2025, indicating a mixed approach to monetary policy with both net withdrawals and injections across various tools [1] Group 1: Liquidity Tools Overview - In July, the Standing Lending Facility (SLF) experienced a net withdrawal of 300 million yuan [1][2] - The Medium-term Lending Facility (MLF) saw a net injection of 100 billion yuan [1][2] - The Pledged Supplementary Lending (PSL) had a net withdrawal of 230 billion yuan [1][2] - The Short-term Reverse Repo recorded a net injection of 188 billion yuan [1][2] - The Buyout Reverse Repo also had a net injection of 200 billion yuan [1][2] - No open market transactions for government bonds were conducted in July [1] Group 2: Detailed Tool Performance - SLF: 14 billion yuan injected, 17 billion yuan withdrawn, resulting in a net withdrawal of 3 billion yuan [2] - MLF: 40 billion yuan injected, 30 billion yuan withdrawn, resulting in a net injection of 10 billion yuan [2] - PSL: 116.3 billion yuan injected, 346.3 billion yuan withdrawn, resulting in a net withdrawal of 23 billion yuan [2] - Other structural monetary policy tools: 41.76 billion yuan injected, 41.88 billion yuan withdrawn, resulting in a net withdrawal of 1.2 billion yuan [2] - Short-term Reverse Repo: 56.67 billion yuan injected, 54.787 billion yuan withdrawn, resulting in a net injection of 1.88 billion yuan [2] - Buyout Reverse Repo: 14 billion yuan injected, 12 billion yuan withdrawn, resulting in a net injection of 2 billion yuan [2] - Central Treasury Cash Management: 10 billion yuan injected, 12 billion yuan withdrawn, resulting in a net withdrawal of 2 billion yuan [2]