Sino-Singapore Jingwei Client, December 23, according to the official website of the central bank, in order to maintain stable liquidity at the end of the year, on December 23, 2020, the People's Bank of China launched a reverse repurchase operation of 110 billion yuan by way of interest rate bidding.
On the 23rd, the reverse repurchase expired at 10 billion yuan, and a net investment of 100 billion yuan was realized that day.
Source: Central Bank's official website
The announcement showed that the central bank’s open market 7-day reverse repurchase operation won the bid rate of 2.20%, and the 14-day reverse repurchase operation won the bid rate of 2.35%, which was the same as before.
In order to maintain stable liquidity at the end of the year, the central bank carried out reverse repurchase operations of 110 billion yuan, 130 billion yuan, and 110 billion yuan on December 21, 22, and 23, respectively, achieving net investment of 90 billion yuan, 120 billion yuan, and 100 billion yuan, with a cumulative net investment of 310 billion yuan in three days.
Wind data shows that this week (December 21-27), the central bank’s open market has 60 billion yuan of reverse repurchase maturities, of which 20 billion yuan, 10 billion yuan, 10 billion yuan, and 10 billion are due respectively from Monday to Friday. RMB 10 billion.
On the 21st, the executive meeting of the State Council determined that in the first quarter of next year, we will continue to implement the original policy of deferring principal and interest repayment for inclusive small and micro enterprise loans. On this basis, the policy period should be extended appropriately to ensure that the extension should be extended in accordance with market principles , Determined by the bank and the enterprise through independent negotiation.
Local corporate banks that handle loan deferred repayment of principal and interest with a period of not less than 6 months will continue to provide incentives at 1% of the loan principal.
The implementation period of the Inclusive Small and Micro Enterprise Credit Loan Support Program will be appropriately extended from the end of this year.
For eligible local corporate banks to issue inclusive credit loans to small and micro enterprises, continue to provide preferential financial support at 40% of the loan principal.
Implementing and appropriately extending the above-mentioned direct monetary policy tools will help small and micro enterprises to better respond to changes in the domestic and foreign environment and achieve stable recovery of production and operation.
Shanxi Securities believes that in the short term, it is not too worried about the tightening of monetary policy.
First, the "no sharp turn" proposed by the Central Economic Work Conference determines that the timing of monetary policy tightening will not be too early.
Second, in the past few years, at the end and the beginning of the year, the central bank tended to invest in a timely manner, and liquidity is usually not lacking.
Of course, the central bank may have an intention to maintain stability during the period from New Year's Eve to the Spring Festival. According to this rule, funds will not be too tight from now to February.
(Zhongxin Jingwei APP)