Xinhua Finance and Economics, Beijing, April 17 (Gao Ershan) The People's Bank of China launched a 7-day reverse repurchase operation of 2 billion yuan on the 17th, and the winning interest rate was 1.80%, the same as before; in view of the expiration of 2 billion yuan of reverse repurchase and 170 billion yuan of 1-year MLF on the same day, the open market achieved a net withdrawal of 170 billion yuan.
The Shanghai Interbank Offered Rate (Shibor) short-term funding rate rose slightly. Specifically, the overnight Shibor rose 0.80BP to 1.7230%, the 7-day Shibor rose 1.10BP to 1.8160%, and the 14-day Shibor rose 9.40BP to 1.9520%.
Shanghai Interbank Offered Rate (17 Apr)
Source: National Interbank Funding Center
In the interbank pledged repo market, the short-term funding rate generally rose, and DR014 rose by more than 10BP. Specifically, the weighted average interest rates of DR001 and R001 rose by 1.6BP and 1.8BP respectively to 1.7318% and 1.8145%, and the turnover increased by 58.8 billion yuan and decreased by 25.6 billion yuan respectively; the weighted average interest rates of DR007 and R007 rose by 1.7BP and 0.6BP respectively to 1.8326% and 1.9322%, and the turnover decreased by 12.4 billion yuan and 78.1 billion yuan respectively; DR014, The weighted average interest rate of R014 rose by 10.2BP and 1.7BP respectively to 1.9591% and 2.0038%, and the turnover increased by 900 million yuan and decreased by 3.5 billion yuan respectively.
Money Market Rates (17 April)
Source: National Interbank Funding Center
According to the traders of Shanghai International Currency Brokerage Company, the capital side continued to loose in early trading on the 17th, and tightened after ten o'clock, and the capital side turned into a balance. The big banks opened in the morning, the state-owned banks and joint-stock banks financed overnight for seven days, the overnight transaction of the mortgage rate was around the weighted to weighted +15BP, the overnight deposit certificate credit transaction was priced at 1.85%-1.90%, the local transaction of the 7D mortgage rate was 1.85%-1.90%, and the mortgage credit was 1.95%. The supply of funds in each period is sufficient, and the demand for funds is quickly met. After the open market operation, the capital side turned into a balance, and the bank lending decreased. In the afternoon, the transaction price of funds continued to be equilibrium, with the overnight deposit certificate trading at around 1.85%-1.88%, the charging interest rate trading at 1.80%, and the 7D charging interest rate at 1.90%, and the capital side remained balanced until the close.
In terms of interbank certificates of deposit, Shanghai international money brokerage traders said that as of 5:30 p.m., 107 interbank certificates of deposit were issued on April 17, with an actual issuance of 86.96 billion yuan.
In terms of primary certificates of deposit, except for 3M, all of them expire on rest days, which are affected by the expiration date, and the trading is light. As of the close, 1M was basically flat at 1.90%, 3M was down about 1BP to 1.97%, 6M was basically flat at 2.00%, 9M was down about 2.5BP to 2.06%, and 1Y was down about 1.5BP to 2.09%.
【Today's Attention】
•According to the People's Bank of China on the 17th, recently, the People's Bank of China held the 2024 Treasury Work Conference. The meeting held that in 2023, the treasury line of the People's Bank of China will resolutely implement the Party Central Committee, The State Council has made decisions and arrangements, conscientiously implemented the work requirements of the Party committee, handled the treasury revenue and expenditure business in a timely and accurate manner, solidly promoted the construction of the national treasury project, continued to promote the construction of the treasury system, performed the treasury supervision duties in accordance with laws and regulations, successfully completed the issuance and redemption of savings treasury bonds, standardized the treasury cash management, continuously improved the quality and efficiency of analysis and research, and completed the transfer of the treasury business of county (city) branches in a smooth and orderly manner, and achieved new results in all aspects of the treasury work.
•On April 17, the State Council Information Office held a press conference on the macroeconomic situation and policies, at which Liu Sushe, deputy director of the National Development and Reform Commission, said that the construction and implementation of additional treasury bond issuance projects in 2023 will be accelerated. In February this year, the National Development and Reform Commission (NDRC) completed the issuance of all three batches of projects totaling 1 trillion yuan in additional treasury bonds, and the funds for the additional issuance of treasury bonds have been implemented to about 15,000 specific projects.
•According to the Shandong Provincial Commission for Discipline Inspection and Supervision, with the approval of the Shandong Provincial Party Committee, the Shandong Provincial Commission for Discipline Inspection and Supervision conducted a case review and investigation on Yin Peng, former Secretary of the Party Committee and Chairman of Shandong Guohui Investment Holding Group Co., Ltd., for serious violations of discipline and law. In accordance with the relevant regulations, after the meeting of the Standing Committee of the Shandong Provincial Commission for Discipline Inspection and the approval of the Shandong Provincial Party Committee, it was decided to expel Yin Peng from the party; the Shandong Provincial Supervision Commission shall give him the sanction of dismissal from public office; confiscate his disciplinary and illegal gains; transfer his suspected crime to the procuratorial organs for examination and prosecution according to law, and transfer the property involved together.
Editor: Xing Lisha
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