In order to hedge the impact of factors such as the peak of tax period and maintain a reasonable and sufficient liquidity of the banking system, the People's Bank of China carried out 850 billion yuan medium-term lending facility (MLF) operation and 172 billion yuan open market reverse repurchase operation on November 15, and the bid winning interest rate was the same as the previous one. The MLF operation period is one year, and the bid winning interest rate is 2.75%; The operation period of reverse repurchase is 7 days, and the bid winning interest rate is 2%. In that month, 1 trillion yuan of MLF operations expired. The People's Bank of China said that in addition to the 850 billion yuan MLF operation this time, since November, the People's Bank of China has invested 320 billion yuan in medium and long-term liquidity through mortgage supplementary loans (PSL), scientific and technological innovation refinancing and other tools, and the total amount of medium and long-term liquidity investment has been higher than the MLF maturity this month. (Liu Xinshe)