From the FDA Drug Label
Hyponatremia can occur as a result of treatment with carbamazepine. In many cases, the hyponatremia appears to be caused by the syndrome of inappropriate antidiuretic hormone secretion (SIADH) The risk of developing SIADH with carbamazepine treatment appears to be dose-related.
Carbamazepine causes Syndrome of Inappropriate Antidiuretic Hormone Secretion (SIADH) by an unknown mechanism, but it is believed that the risk is dose-related. The exact mechanism of how carbamazepine leads to SIADH is not explicitly stated in the drug label.