Money Market: Bank borrowing rises
THE government raised Rs289.74bn from the auction of Market Treasury Bills of various tenors last Thursday, exceeding its target of Rs250bn. The central bank had received much higher bids of Rs480.38bn. In the earlier auction also the target set was exceeded.
Of the total raised amount, three month T-bill fetched the highest Rs187.89bn at a cut off yield of 5.95pc, followed by 6-month T-bill Rs100.91bn at 5.95pc and 12-month T-bills Rs944bn at 5.949pc.
The central bank had received highest bid for three month T-bill Rs255.66bn, followed by 6-month T-bill with Rs188.40bn and 12-month T-bill Rs36.31bn.
Investments of all scheduled banks showed a rise. Compared to last year’s corresponding figure, the current week’s figure is higher by 9.03pc
According to the weekly statement of position of all scheduled banks for the week ended November 11 deposits and other accounts of all scheduled banks stood at Rs10401.84bn after a 0.06pc decrease over the preceding week’s figure of Rs10407.61bn.
Compared with last year’s corresponding figure of Rs9058.13bn, the current week’s figure was higher by 14.83pc.
Deposits and other accounts of all commercial banks stood at Rs10337.74bn against preceding week’s deposits of Rs10346.07bn, showing a decrease of 0.08pc. Deposits and other accounts of specialised banks stood at Rs64.11bn, higher by 4.18pc against previous week’s figure of Rs61.53bn.
Total assets of all scheduled banks stood at Rs14142.59bn, higher by 0.56pc over preceding week’s figure of Rs14063.74bn. Current week’s figure is higher by 9.14pc compared to last year’s corresponding figure of Rs12957.81bn.