The SBP is continuously supporting the money market by injections to counter short liquidity position faced by the commercial banks. Overnight rates were 12.90 per cent.
According to the weekly statement of position of all scheduled banks for the week ended September 20, 2008, deposits and other accounts of the scheduled banks stood at Rs3,778.923 billion, lower by Rs20.932 billion over preceding week’s figure of Rs3,799.855 billion. Compared with last year’s corresponding figure of Rs3,407.446 billion, the current week’s figure is higher by Rs371.477 billion. During the current week commercial banks deposits showed a fall of Rs20.944 billion over the week to Rs3,767.054 billion, against preceding week’s Rs3,787.998 billion. Specialised banks deposits stood at Rs11.869 billion, against preceding week’s Rs11.857 billion, a rise of Rs0.012 billion.
Borrowings by all scheduled banks increased during the week over preceding week’s figure. It rose to Rs444.616 billion over preceding week’s figure of Rs416.298 billion, a rise of Rs28.318 billion. Compared to last year’s corresponding figure of Rs378.550 billion, current week’s figure is larger by Rs66.066 billion. Current week’s increase was due to an increase in the borrowings by commercial banks, which rose to Rs363.293 billion against previous week’s Rs335.005 billion, or by Rs28.288 billion. Borrowings by specialised banks stood at Rs81.323 billion, against preceding week’s figure of Rs81.293 billion, higher by Rs0.03 billion.
Gross advances stood at Rs2,981.946 billion in the week under review, a rise of Rs37.753 billion over preceding week’s figure of Rs2,944.193 billion. Compared to last year’s corresponding figure of Rs2,427.134 billion, current week’s figure is larger by Rs554.812 billion. In the week under review, advances by commercial banks increased to Rs2,882.151 billion against earlier week’s figure of Rs2,844.608 billion, or by Rs37.543 billion. Advances of specialized banks stood at Rs99.795 billion, larger by Rs0.21 billion over earlier week’s figure of Rs99.585 billion.
Investments of all scheduled banks increased in the week by Rs1.155 billion to Rs1,016.422 billion against preceding week’s figure of Rs1,015.267 billion. Compared to last year’s corresponding figure of Rs1,232.206 billion, current week’s figure is smaller by Rs215.784 billion. In the current week, commercial banks investment rose to Rs1,003.905 billion, from earlier week’s Rs1,002.715 billion, or by Rs1.19 billion. Specialized banks investment stood at Rs12.517 billion, against preceding week’s Rs12.552 billion, smaller by Rs0.035 billion.
Cash and balances with treasury banks of all scheduled banks increased by Rs4.261 billion during the week to stand at Rs452.403 billion against earlier week’s Rs448.142 billion. Current week’s figure was higher by Rs108.282 billion compared to last year’s corresponding figure of Rs344.121 billion. In the current week, the figure for commercial banks stood at Rs449.338 billion against preceding week’s figure of Rs445.104 billion, a rise of Rs4.234 billion, while of specialized banks it stood at Rs3.064 billion over previous week’s Rs3.038 billion.
Total assets of scheduled banks stood at Rs5,107.200 billion, larger by Rs5.345 billion, over preceding week’s figure of Rs5,101.855 billion. Current week’s figure was higher by Rs528.695 billion compared to last year’s corresponding figure of Rs4,578.505 billion. Meanwhile, commercial banks assets, in the current week, stood at Rs4,985.430 billion, larger by Rs5.884 billion over previous week’s figure of Rs4,979.546 billion. Specialised banks assets fell to Rs121.770 billion, or by Rs0.539 billion over previous week’s Rs122.309 billion.