Money Market: Bank deposits dip
The government raised Rs154.44bn from the auction of MTB of various tenors held last Thursday, smaller against the received bids of Rs259.42bn and auction target of Rs300bn.
The cut off yields were higher against the last auction.
Of the total raised amount, six month T-bills fetched the highest Rs128.93bn at a cut off yield of 6.01pc, followed by three month T-bill Rs23.07bn at 5.99pc, and 12-month T-bills Rs2.43bn at 6.04pc.
Deposits and other accounts of all scheduled banks stood at Rs10,992.69bn after a 1.53pc decrease over the preceding week’s figure of Rs11,163.34bn
Deposits and other accounts of all scheduled banks stood at Rs10,992.69bn after a 1.53pc decrease over the preceding week’s figure of Rs11,163.34bn, according to the weekly statement of position for the week ended May 26.
Compared with last year’s corresponding figure of Rs9,744.39bn, the current week’s figure was higher by 12.81pc.
Deposits and other accounts of commercial banks stood at Rs10,929.28bn against preceding week’s deposits of Rs11,088.01bn, showing a fall of 1.43pc. Deposits and other accounts of specialised banks stood at Rs63.41bn, lower by 15.82pc against previous week’s figure of Rs75.33bn.
Total assets of all scheduled banks stood at Rs15,836.12bn, higher by 0.36pc over preceding week’s figure of Rs15,779.95bn. Current week’s figure is higher by 14.04pc compared to last year’s corresponding figure of Rs13,886.27bn.