Following the 50 basis points reduction in the State Bank policy rate to 10 per cent early October 2012, the yield on market treasury bills has been further reduced in the auction held on October 17.

Tenders for sale of 3-months, 6-months and 12-months Government of Pakistan Market Treasury Bills were invited by the State Bank of Pakistan on October 16.

The SBP received total bids worth Rs449.513 billion (realized value) of T-bills of various tenors. It accepted Rs170.017 billion (realized) with face value of Rs182.027 billion. SBP accepted 3-month T-bills of Rs12.744 billion at a cut off yield of 9.6383 per cent, 6-month T-bills of Rs71.605 billion at 9.6481 per cent and Rs85.667 billion of 12-month T-bills at 9.7118 per cent.

In the week ended October 12, 2012, deposits and other accounts of all scheduled banks increased and stood at Rs6267.693 billion, higher by Rs7.782 billion over preceding week’s figure of Rs6259.911 billion. Compared with last year’s corresponding figure of Rs5357.573 billion, the current week’s figure is larger by Rs910.12 billion. During the current week, commercial banks deposits showed a rise of Rs7.836 billion over the week to Rs6254.382 billion, against preceding week’s Rs6246.546 billion. Specialized banks deposits stood at Rs13.311 billion, against previous week’s Rs13.365 billion.

According to the weekly statement of position of all scheduled banks for the week ended October 12, 2012, borrowings by all scheduled banks increased in the week. It rose to Rs924.731 billion over preceding week’s figure of Rs866.341 billion, or by Rs58.39 billion. Compared to last year’s corresponding figure of Rs737.821 billion, current week’s figure is higher by Rs186.91 billion. Commercial banks borrowings increased to Rs848.046 billion against previous week’s Rs790.019 billion, or by Rs58.027 billion. Borrowings by specialized banks stood at Rs76.685 billion, against preceding weeks Rs76.322 billion.

Other liabilities of all scheduled banks stood at Rs331.086 billion, against preceding week’s Rs331.203 billion, showing a rise of Rs0.117 billion. Compared with last year’s corresponding figure of Rs283.742 billion, the current week’s figure is higher by Rs47.344 billion.

Gross advances stood at Rs3706.714 billion in the week under review, a decline of Rs1.974 billion over preceding week’s figure of Rs3708.688 billion. Compared to last year’s corresponding figure of Rs3402.953 billion, current week’s figure is higher by Rs303.781 billion. In the week under review, advances by commercial banks fell to Rs3587.798 billion against earlier week’s figure of Rs3589.840 billion, or by Rs2.042 billion. Advances of specialized banks stood at Rs118.916 billion.

Investments of all scheduled banks stood at Rs3634.295 billion, against preceding week’s figure of Rs3640.636 billion, a decline of Rs6.341 billion. Compared to last year’s corresponding figure of Rs2790.495 billion, current week’s figure is larger by Rs843.8 billion. In the current week, commercial banks investment stood at Rs3611.261 billion, against preceding week’s figure of Rs3617.962 billion, a decline of Rs6.701 billion. Specialized banks investment stood at Rs23.035 billion.

Cash and balances with treasury banks of all scheduled banks increased by Rs48.228 billion during the week to stand at Rs559.238 billion against earlier week’s Rs511.010 billion. Current week’s figure is higher by Rs109.753 billion compared to last year’s corresponding figure of Rs449.485 billion. In the current week, the figure for commercial banks stood at Rs556.229 billion against preceding week’s figure of Rs508.120 billion, an increase of Rs48.109 billion, while of specialized banks it stood at Rs3.009 billion, against preceding week’s Rs2.889 billion.

Balances with other banks increased to Rs150.875 billion against Rs125.680 billion in the previous week, or by Rs25.195 billion. It was higher by Rs1.029 billion against Rs149.846 billion in the corresponding week last year. Balances of all commercial banks stood at Rs146.222 billion, an increase of Rs25.749 billion over preceding week’s figure of Rs120.473 billion. Balances of specialized banks stood at Rs4.653 billion.

Total assets of scheduled banks stood at Rs8549.291 billion, higher by Rs62.228 billion, over preceding week’s figure of Rs8487.063 billion.

Current week’s figure was higher by Rs1251.496 billion compared to last year’s corresponding figure of Rs7297.795 billion. In the current week, commercial banks assets stood at Rs8400.106 billion, higher by Rs61.59 billion over previous week’s figure of Rs8338.516 billion, while of specialized banks it stood at Rs149.185 billion.

Net assets of all scheduled banks stood at Rs872.225 billion against preceding week’s figure of Rs877.242 billion, showing a fall of Rs5.017 billion.

Current week’s figure was higher by Rs89.521 billion compared to last year’s corresponding figure of Rs782.704 billion. The figure for commercial banks stood at Rs860.815 billion, smaller by Rs5.11 billion over preceding week’s figure of Rs865.925 billion. Specialized bank’s net assets stood at Rs11.410 billion, against previous week’s Rs11.317 billion.