On September 26, the State Bank of Pakistan raised Rs21.2 billion trough sale of 12 month treasury bills. It did not change the cut off yield of the paper from 9.399 per cent.

The Central Bank did not receive any offer for 3 and 6 month T-bills. For the last three auctions the banks have not been investing in short term T-bills.

According to the weekly statement of position of all scheduled banks for the week ended September 15, 2007, deposits and other accounts of the scheduled banks stood at Rs3,381.122 billion, smaller by Rs54.222 billion over preceding week’s figure of Rs3,435.344 billion. Commercial banks deposits showed a decrease of Rs53.858 billion over the week to Rs3,369.341 billion, against preceding week’s Rs3,423.199 billion. Specialized banks deposits stood at Rs11.780 billion, against preceding week’s Rs12.145 billion, a fall of Rs0.365 billion.

Borrowings by all scheduled banks increased during the week over preceding week’s figure. It rose to Rs394.268 billion over preceding week’s figure of Rs375.396 billion, a rise of Rs18.872 billion. This was primarily due to a rise in the borrowings by commercial banks, which rose to Rs313.290 billion against previous week’s Rs294.333 billion, or by Rs18.957 billion. Borrowings by specialized banks stood at Rs80.978 billion, against preceding week’s figure of Rs81.063 billion, a decline of Rs0.085 billion.

Gross advances stood at Rs2,436.339 billion in the week under review, an increase of Rs12.574 billion over preceding week’s figure of Rs2,423.765 billion. Advances by commercial banks rose to Rs2,340.261 billion against earlier week’s figure of Rs2,327.796 billion, or by Rs12.465 billion. Advances of specialized banks stood at Rs96.077 billion, higher by Rs0.108 billion over earlier week’s figure of Rs95.969 billion.

Investments of all scheduled banks increased in the week by Rs22.71 billion to Rs1,228.552 billion against preceding week’s figure of Rs1,205.842 billion. Commercial banks investment rose to Rs1,214.986 billion, from earlier week’s Rs1,192.258 billion, larger by Rs22.728 billion. Specialized banks investment stood at Rs13.566 billion, against preceding week’s Rs13.584 billion, a fall of Rs0.018 billion.

Cash and balances with treasury banks of all scheduled banks fell by Rs2.527 billion during the week to stand at Rs337.705 billion against earlier week’s Rs340.232 billion. The figure for commercial banks stood at Rs335.375 billion against preceding week’s figure of Rs337.898 billion, a decline of Rs2.523 billion, while of specialized banks it stood at 2.330 billion over previous week’s 2.334 billion.

Total assets of scheduled banks stood at Rs4,584.038 billion, higher by Rs0.252 billion, over preceding week’s figure of Rs4,583.786 billion. Meanwhile, commercial banks assets stood at Rs4,470.071 billion, larger by Rs0.635 billion over previous week’s figure of Rs4,469.436 billion. Specialized banks assets declined to Rs113.967 billion, or by Rs0.383 billion over previous week’s Rs114.350 billion.