THE government managed to raise Rs114.89bn during the latest auction of Treasury bills of various tenors on July 23.

Of this, three-month T-bills fetched Rs111.726bn at a cut-off yield of 9.9564pc, followed by six-month T-bills with Rs1.953bn at 9.9791pc and 12-month T-bills with Rs1.21bn at 9.99pc. The central bank accepted all the bids it had received during the auction.

The SBP also conducted an open market operation on July 21, and mopped up Rs72.5m through the three-day contract, at a rate of return of 9.19pc. The central bank had received 15 bids offering Rs75.5m.

Three-month Treasury bills fetched the highest amount of Rs111.726bn during the latest T-bill auction

According to the weekly statement of position of all scheduled banks for the week ending July 11, net assets of all scheduled banks rose to Rs993.654bn, against the preceding week’s Rs989.07bn. Net assets of all commercial banks stood at Rs973.281bn in the week, up 0.36pc over the prior week’s figure of Rs969.798bn. Specialised banks’ net assets stood at Rs20.374bn in the week, against the previous week’s Rs19.272bn.

Cash and balances with treasury banks of all scheduled banks rose by 3.8pc during the week under review to Rs696.402bn, against the earlier week’s Rs670.956bn. Cash and balances with treasury banks of all commercial banks stood at Rs692.958bn in the week, against the preceding week’s figure of Rs667.254bn, up 3.85pc. Cash and balances with treasury banks of all specialised banks stood at Rs3.444bn in the week, against the preceding week’s figure of Rs3.701bn.

Investments of all scheduled banks stood at Rs4387.623bn in the week ending July 11, against the preceding week’s figure of Rs4346.542bn, up 0.94pc. Investments of all commercial banks stood at Rs4355.65bn in the week, against the preceding week’s figure of Rs4314.545bn, up 0.95pc. Specialised banks’ investments stood at Rs31.972bn in the week, against the previous week’s figure of Rs31.997bn.

Gross advances stood at Rs4202.774bn in the week under review, down 0.44pc over the preceding week’s figure of Rs4221.2bn. Gross advances by commercial banks decreased by 0.45pc to Rs4070.592bn, against the earlier week’s figure of Rs4089.197bn. Advances by specialised banks stood at Rs132.183bn in the week.

Total assets of all scheduled banks stood at Rs10286.598bn in the week ending July 11, lower by 0.37pc over the preceding week’s figure of Rs10325.401bn. Total assets of all commercial banks stood at Rs10106.642bn in the week, down 0.38pc over the previous week’s figure of Rs10145.240bn. Total assets of all specialised banks stood at Rs179.956bn in the week, over the previous week’s Rs180.161bn.

Deposits and other accounts of all scheduled banks fell to Rs8012.311bn in the week under review, lower by 0.91pc over the previous week’s figure of Rs8085.702bn. Deposits and other accounts of all commercial banks fell by 0.90pc over the week to Rs7991.036bn.

Published in Dawn, Economic & Business, July 28th, 2014