According to Pakistan’s economy news, the central bank pumped in a cumulative Rs1.3tr into the banking system through two open market operations last week.
In the first one on Wednesday, it injected Rs623.8bn in a two-day contract at 6.07pc. In the second one on Friday, it poured in another Rs704.7bn in a seven-day contract at 6.04pc. Interestingly, in both OMOs, the central bank had received bids worth far larger amounts than it accepted, signalling the continued liquidity shortages faced by banks.
Meanwhile, the government raised Rs53.846bn from the auction of Treasury bills of various tenors last Wednesday, missing its target of Rs125bn.
Of the total, three-month T-bills fetched Rs48.034bn at a cut-off yield of 6.4828pc, followed by six-month T-bills with Rs5.812bn at 6.48pc.
The government raised Rs53.846bn from the auction of Treasury bills last Wednesday, missing its target of Rs125bn
The central bank had received total bids worth Rs54.784bn. All bids received for three- and six-month T-bills were accepted, while those for 12-month T-bills (worth Rs937.8m) were rejected.
According to the weekly statement of position of all scheduled banks for the week ending September 18 deposits and other accounts of all scheduled banks rose 0.66pc to Rs9,038.819bn, against the preceding week’s figure of Rs8,979.848bn. When compared with last year’s corresponding figure of Rs7,987.817bn, the current week’s figure is higher by 13.16pc.
Deposits and other accounts of all commercial banks stood at Rs9,010.142bn in the week, against the preceding week’s level of Rs8,950.783bn, depicting an increase of 0.66pc. Deposits and other accounts of specialised banks stood at Rs28.677bn in the week.
Investments of all scheduled banks stood at Rs6,434.2bn in the week under review against the preceding week’s figure of Rs6,456.47bn, down 0.34pc. When compared with last year’s corresponding figure of Rs. 4, 438.956bn, the current week’s figure is higher by 45pc.
Investments of all commercial banks stood at Rs6,411.6bn in the week, down 0.33pc against the preceding week’s figure of Rs6,432.914bn.
Investments by all specialized banks stood at Rs22.59bn in the week against the preceding week’s figure of Rs23.56bn.