Money Market: Bank deposits rise
THE government raised Rs278.42bn from the auction of MTBs of various tenors held last Thursday, smaller against the received bids of Rs373bn. It was also lower against the auction target of Rs350bn. The cut off yields remained unchanged.
Of the total raised amount, six month T-bills fetched the highest Rs139.60bn at a cut off yield of 5.98pc, followed by three month T-bill Rs138.81bn at 5.94pc. Bids received for 12 month bills were rejected.
Three month T-bill attracted the highest amount of Rs190.75bn: six month T-bill Rs163.38bn, and 12 month T-bill Rs18.86bn.
Borrowings by all scheduled banks increased by 2.84pc. Compared to last year’s corresponding figure, the current week’s figure is higher by 1.78pc
According to the weekly statement of position for the week ended March 03, deposits and other accounts of all scheduled banks stood at Rs10,797.73bn after a 0.63pc increase over the preceding week’s figure of Rs10,730.19bn. Compared with last year’s corresponding figure of Rs9,412.62bn, the current week’s figure was higher by 14.72pc.
Deposits and other accounts of all commercial banks stood at Rs10,726.66bn against preceding week’s deposits of Rs10,659.14bn, showing a rise of 0.63pc. Deposits and other accounts of specialised banks stood at Rs71.07bn, higher by 0.03pc against previous week’s figure of Rs71.05bn.
Total assets of all scheduled banks stood at Rs14,941.67bn, higher by 0.78pc over preceding week’s figure of Rs14,825.96bn. Current week’s figure is higher by10.72pc compared to last year’s corresponding figure of Rs13,495.42bn.