According to CoinMeta, CICC won the bid for the third batch of swap facilities totaling 16.3 billion yuan. Recently, the People's Bank of China carried out swap facility operations for securities, funds, and insurance companies, with a total amount of 100 billion yuan involved in this operation. A bidding process based on fees was adopted, and 31 securities and fund companies participated in the bidding, with the winning bid fee rate being 10 basis points (bps). CICC completed the first batch of pledged repurchase transactions on November 4th, using central bank bills from the first phase of 2026 as the pledged collateral. The aim is to support the rapid implementation of macro policies with practical actions.