Group 1: Open Market Operations - The central bank conducted a 7-day reverse repurchase operation on November 19, with a fixed rate and a total amount of 310.5 billion yuan, at an interest rate of 1.40% [1] - On the same day, 195.5 billion yuan of reverse repos matured, resulting in a net injection of 115 billion yuan [1] Group 2: Funding Conditions - The interbank market showed a slight easing of funding tensions, with the overnight repo weighted average rate dropping over 10 basis points to around 1.42% [3] - The overnight quotes also fell to 1.42%, while non-bank institutions' pledged credit bonds for overnight funding were quoted at 1.53%-1.55% [3] - Market liquidity is expected to return to a balanced and slightly loose state before the end of the month [3] Group 3: Interbank Certificates of Deposit - The latest transaction for one-year interbank certificates of deposit was around 1.64%, showing a slight decline from the previous day [7] Group 4: Government Bond Futures - The closing prices for government bond futures showed a decline, with the 30-year main contract down 0.41%, the 10-year down 0.06%, the 5-year down 0.03%, and the 2-year down 0.03% [12] Group 5: Sovereign Bond Issuance - The Ministry of Finance successfully issued 4 billion euros in sovereign bonds in Luxembourg, with a total subscription amount of 100.1 billion euros, 25 times the issuance amount [12] - The 7-year bond had a subscription multiple of 26.5 times, indicating strong market demand [12] Group 6: Economic Indicators - In October, the consumer market maintained stable growth, with total retail sales of consumer goods reaching 41.2 trillion yuan, a year-on-year increase of 4.3%, which is 0.8 percentage points higher than the same period last year [12] Group 7: International Developments - Japan's 10-year government bond yield reached a 17-year high, driven by expectations of significant fiscal spending [15] - The expected economic stimulus plan in Japan is projected to exceed 20 trillion yen, with a supplementary budget of approximately 17 trillion yen [16]

首判托管银行担责 事情要从 2023 年的一场信托兑付危机说起。 彼时，多名投资者发现其认购的民生信托某集合资金信托计划出现兑付逾期，资金无法按时收回。在与信托公司沟通 无果后，投资者李某（化名）决定通过法律途径维权。 一位行业实务专家告诉本报记者，这是国内首例托管银行因未完全履行义务而被判承担赔偿责任的案件。 21世纪经济报道记者 郭聪聪 21世纪经济报道记者了解到，近期，北京金融法院对一起信托产品兑付纠纷作出二审判决：不仅要求信托受托人民生 信托公司对未兑付债务负责，还判令托管银行对信托公司应付债务的4%承担连带赔偿责任。 北京金融法院 二审判决书 托管银行只"管钱"，不担"兑付责"？ 管钱，是托管银行在信托计划中的"传统角色"。 北京信托法学研究会副秘书长张杨告诉21世纪经济报道记者，商业银行扮演者集合资金信托计划的"保管人"的角色。 "在我国信托监管框架下，保管人的主要职责在于账户独立与资金收付、指令合规性复核、账务核对与资料留存、定期 保管报告，并在发现重大异常时提示并按规定报告。"张杨解释道，托管人的职责边界很清晰，不负责项目尽职调查， 不参与投资决策，也不替代信托公司进行投后管理，并非"共同受托 ...