Q235B鍍鋅方管進入小幅凈回籠格局

Q235B鍍鋅方管中(zhong)國(guo)(guo)(guo)金(jin)(jin)融(rong)監(jian)(jian)(jian)管(guan)體(ti)制(zhi)延續(xu)多年的(de)“一(yi)行三會(hui)(hui)(hui)”結構，出現重大變化，中(zhong)國(guo)(guo)(guo)銀行業(ye)監(jian)(jian)(jian)督(du)管(guan)理(li)委(wei)員(yuan)會(hui)(hui)(hui)和中(zhong)國(guo)(guo)(guo)保險監(jian)(jian)(jian)督(du)管(guan)理(li)委(wei)員(yuan)會(hui)(hui)(hui)的(de)職責整合，組(zu)建中(zhong)國(guo)(guo)(guo)銀行保險監(jian)(jian)(jian)督(du)管(guan)理(li)委(wei)員(yuan)會(hui)(hui)(hui)(下(xia)稱“銀保監(jian)(jian)(jian)會(hui)(hui)(hui)”)，作為(wei)國(guo)(guo)(guo)務院直屬事業(ye)單位。若此方案在兩會(hui)(hui)(hui)上獲得通過(guo)，未來中(zhong)國(guo)(guo)(guo)金(jin)(jin)融(rong)監(jian)(jian)(jian)管(guan)體(ti)制(zhi)就將形成新的(de)“一(yi)行兩會(hui)(hui)(hui)”結構：中(zhong)國(guo)(guo)(guo)人民銀行、中(zhong)國(guo)(guo)(guo)證(zheng)監(jian)(jian)(jian)會(hui)(hui)(hui)、中(zhong)國(guo)(guo)(guo)銀保監(jian)(jian)(jian)會(hui)(hui)(hui)。

    根據國(guo)務院(yuan)機構改革方(fang)案的描述，新組建的中國(guo)銀(yin)(yin)(yin)保(bao)監(jian)(jian)會主要職責(ze)是(shi)，依照法(fa)律(lv)法(fa)規統(tong)一監(jian)(jian)督(du)(du)管(guan)(guan)理銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)業(ye)(ye)和保(bao)險(xian)業(ye)(ye)，維(wei)護銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)業(ye)(ye)和保(bao)險(xian)業(ye)(ye)合法(fa)、穩健(jian)進行(xing)(xing)(xing)(xing)，防范(fan)和化解金(jin)(jin)(jin)融(rong)風險(xian)、保(bao)護金(jin)(jin)(jin)融(rong)消費者合法(fa)權(quan)益，維(wei)護金(jin)(jin)(jin)融(rong)穩定。將(jiang)中國(guo)銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)業(ye)(ye)監(jian)(jian)督(du)(du)管(guan)(guan)理委(wei)員會和中國(guo)保(bao)險(xian)監(jian)(jian)督(du)(du)管(guan)(guan)理委(wei)員會擬定銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)業(ye)(ye)、保(bao)險(xian)業(ye)(ye)重要性法(fa)律(lv)法(fa)規草案和審慎監(jian)(jian)管(guan)(guan)基(ji)本制(zhi)度(du)的職責(ze)，均(jun)劃入(ru)中國(guo)人民銀(yin)(yin)(yin)行(xing)(xing)(xing)(xing)。

  央行(xing)(xing)上周三未進行(xing)(xing)逆回購操作，當日(ri)無逆回購到期；開展1年期1055億MLF操作，中標利率3.25%較上次(ci)持(chi)平。交易員(yuan)稱，央行(xing)(xing)MLF操作僅對沖當日(ri)到期，未一次(ci)續作全(quan)月(yue)到期規模，令市場(chang)揣測央行(xing)(xing)或有意在未來(lai)再(zai)度跟(gen)隨美(mei)(mei)聯儲加息而上調公(gong)開市場(chang)操作利率，故亦需關注美(mei)(mei)債收益率走(zou)勢帶來(lai)的影響。

    Q235B鍍鋅方管市(shi)場資(zi)金(jin)面(mian)(mian)方面(mian)(mian)，上周五(wu)盡管央(yang)行公開市(shi)場連(lian)續兩日暫停操作(zuo)，小幅凈回籠格局(ju)不(bu)改(gai)，但銀行間市(shi)場資(zi)金(jin)面(mian)(mian)仍舊寬松無虞。質押利率(lv)債品種融出隔夜資(zi)金(jin)的機(ji)構(gou)，盤中可頻見減點，而非銀機(ji)構(gou)加(jia)(jia)權利率(lv)拆借難度亦不(bu)大，跨月(yue)(yue)資(zi)金(jin)雖然供不(bu)應求(qiu)，但短期(qi)(qi)機(ji)構(gou)預期(qi)(qi)仍平穩(wen)無憂。本周資(zi)金(jin)面(mian)(mian)面(mian)(mian)臨繳稅因素(su)擾動，屆時(shi)(shi)將(jiang)有一筆1895億1年期(qi)(qi)MLF到(dao)期(qi)(qi)，央(yang)行會(hui)(hui)不(bu)會(hui)(hui)及時(shi)(shi)續作(zuo)MLF值得(de)關注，延遲(chi)到(dao)美聯儲(chu)加(jia)(jia)息(xi)之后續作(zuo)也有可能。按照(zhao)日程(cheng)，3月(yue)(yue)20日至(zhi)3月(yue)(yue)21日美聯儲(chu)將(jiang)舉(ju)行為期(qi)(qi)兩天的議息(xi)會(hui)(hui)議，并在北京時(shi)(shi)間3月(yue)(yue)22日凌晨宣布利率(lv)決定。