Auction of Government of Pakistan Market Treasury Bills was held. Total bids received were of a sum of Rs470.472bn.

Of this amount, bids for three months was Rs119.447bn, for six month T-bills Rs282.525bn and for 12 month T-bills it was Rs68.50bn.

Of the total bids received, the State Bank accepted bids worth Rs312.905bn; three months Rs46.545bn at a cut off yield of 9.0942 per cent; six months T-bills of Rs200.860bn at 9.1645 per cent and Rs65.5bn of 12-months T-bills at 9.2558 per cent.

State Bank of Pakistan conducted its Open Market Operations i.e., Sale of Government of Pakistan Market Treasury Bills/Pakistan Investment Bonds to State Bank of Pakistan through Reverse Repo.

Number of OMO bids offered was 36 of 10-days tenor. Number of bids accepted was 32. Amount offered was Rs649.6bn, while the accepted amount was Rs605.6bn. The rate of return accepted was 8.77 per cent.

According to the Statement of Affairs of the State Bank of Pakistan, for the week ended January 11, 2013, both notes in circulation and those issued increased in the week. Notes in circulation stood at Rs2048.844bn against earlier week’s figure of Rs1981.135bn, a rise of Rs67.709bn. When compared to the corresponding week a year ago when it was Rs1763.543bn, the current week’s figure is higher by Rs285.301bn.

Total notes issued also increased in the current week over preceding week’s level. At Rs2048.977bn it was higher by Rs67.681bn over the figure recorded a week earlier. In the corresponding week last year it amounted to Rs1763.915bn, which shows current week’s figure to be higher by Rs285.062bn over last year’s corresponding figure.

Approved foreign exchange increased in the week to Rs208.508bn, higher by Rs4.289bn over preceding week’s figure of Rs204.219bn. When compared to the corresponding week a year ago, when the figure was Rs471.629bn, the current week’s figure is smaller by Rs263.121bn.

Balances held outside Pakistan in approved foreign exchange increased in the week under review. It stood at Rs678.351bn over preceding week’s figure of Rs666.157bn, a rise of Rs12.194bn. Compared to last year’s corresponding figure of Rs667.829bn, the current week’s figure is higher by Rs10.522bn.

Loans and advances of scheduled banks to the three sectors — agricultural, industrial and export showed a mixed trend in the week under review. The agricultural sector received Rs52.263bn, similar to preceding week’s figure. The current week’s figure is higher by Rs0.593bn over last year’s corresponding figure of Rs51.670bn.

The industrial sector received Rs40.407bn against preceding week’s Rs40.042bn, a rise of Rs0.365bn. Current week’s figure was lower by Rs0.915bn, over last year’s comparable figure of Rs41.322bn.

Loan and advances to export sector were Rs196.942bn, smaller by Rs0.059bn, over previous week’s figure of Rs197.001bn. Current week’s figure was higher by Rs2.415bn, compared to last year’s corresponding figure of Rs194.527bn

In the week ended January 11, 2013, deposits and other accounts of all scheduled banks declined and stood at Rs6606.677bn, smaller by Rs42.274bn over preceding week’s figure of Rs6648.951bn. Compared with last year’s corresponding figure of Rs5651.623bn, the current week’s figure is larger by Rs955.054bn. During the current week, commercial banks deposits showed a fall of Rs41.125bn over the week to Rs6592.895bn, against preceding week’s Rs6634.020bn. Specialised banks deposits stood at Rs13.782bn, against previous week’s Rs14.931bn.

According to the weekly statement of position of all scheduled banks for the week ended January 11, 2013, borrowings by all scheduled banks increased in the week. It rose to Rs1056.689bn over preceding week’s figure of Rs939.029bn, or by Rs117.66bn. Compared to last year’s corresponding figure of Rs687.443bn, current week’s figure is higher by Rs369.246bn. Commercial banks borrowings rose to Rs978.760bn against previous week’s Rs861.138bn, or by Rs117.622bn. Borrowings by specialised banks stood at Rs77.928bn, against preceding weeks Rs77.891bn.

Other liabilities of all scheduled banks stood at Rs359.916bn, against preceding week’s Rs387.295bn, showing a fall of Rs27.379bn. Compared with last year’s corresponding figure of Rs284.296bn, the current week’s figure is higher by Rs75.62bn.

Gross advances stood at Rs3838.435bn in the week under review, a fall of Rs23.214bn over preceding week’s figure of Rs3861.649bn. Compared to last year’s corresponding figure of Rs3471.290bn, current week’s figure is higher by Rs367.145bn. In the week under review, advances by commercial banks fell to Rs3720.065bn against earlier week’s figure of Rs3743.080bn, or by Rs23.015bn. Advances of specialised banks stood at Rs118.370bn.

Investments of all scheduled banks stood at Rs3920.517bn, against preceding week’s figure of Rs3883.108bn, an increase of Rs37.409bn. Compared to last year’s corresponding figure of Rs2995.221bn, current week’s figure is larger by Rs925.296bn. In the current week, commercial banks investment stood at Rs3896.786bn, against preceding week’s figure of Rs3859.774bn, an increase of Rs37.012bn. Specialised banks investment stood at Rs23.731bn.

Cash and balances with treasury banks of all scheduled banks increased by Rs39.626bn during the week to stand at Rs578.586bn against earlier week’s Rs538.960bn. Current week’s figure is higher by Rs90.121bn compared to last year’s corresponding figure of Rs488.465bn.

In the current week, the figure for commercial banks stood at Rs575.764bn against preceding week’s figure of Rs535.937bn, an increase of Rs39.827bn, while of specialised banks it stood at Rs2.822bn, against preceding week’s Rs3.023bn.

Balances with other banks increased to Rs158.875bn against Rs153.400bn in the previous week, or by Rs5.475bn. It was higher by Rs26.509bn against Rs132.366bn in the corresponding week last year. Balances of all commercial banks stood at Rs150.344bn, an increase of Rs6.393bn over preceding week’s figure of Rs143.951bn. Balances of specialised banks stood at Rs8.531bn.

Total assets of scheduled banks stood at Rs9076.939bn, higher by Rs56.507bn, over preceding week’s figure of Rs9020.432bn. Current week’s figure was higher by Rs1501.616bn compared to last year’s corresponding figure of Rs7575.323bn. In the current week, commercial banks assets stood at Rs8920.444bn, higher by Rs57.54bn over previous week’s figure of Rs8862.904bn, while of specialised banks it stood at Rs156.494bn.

Net assets of all scheduled banks stood at Rs890.018bn against preceding week’s figure of Rs877.094bn, showing an increase of Rs12.924bn. Current week’s figure was higher by Rs78.867bn compared to last year’s corresponding figure of Rs811.151bn. The figure for commercial banks stood at Rs874.428bn, higher by Rs12.986bn over preceding week’s figure of Rs861.442bn. Specialised bank’s net assets stood at Rs15.589bn, against previous week’s Rs15.652bn.