IRS CNY 3M vs 7-day Fixing Depository-Institutions Repo Rate mid

The 7-day Fixing Depository-Institutions Repo Rate (FDR007) is a benchmark rate indicating the average cost for banking institutions to raise funds for a 7-day term. Like FDR001, it is calculated using transactions with high-quality collateral and serves as a key indicator for week-long funding within China's banking system. An IRS CNY vs 7-day Fixing Depository-Institutions Repo Rate is a derivative financial instrument involving the exchange of interest rate streams. One party makes payments at a fixed rate, while the other pays a floating rate linked to FDR007. This contract allows market participants to lock in the cost of their weekly funding for a future period.