WITH the banking system reportedly facing liquidity shortages, the central bank injected funds into the system on December 1, the third time it did so in less than a three-week period.
In the latest open market operation, the SBP injected Rs88.65bn into the system through a four-day contract, at a rate of return of 9.4pc. It accepted 12 of the 14 bids it was offered. The offered bids asked for a return of 9.25-9.4pc.
According to a weekly statement of position of all scheduled banks for the week ending November 21, borrowings by all scheduled banks rose 10pc to Rs1015.938bn, over the preceding week’s figure of Rs923.476bn.
Borrowings by all commercial banks rose 10.9pc to Rs939.02bn in the week, against the previous week’s figure of Rs846.77bn. Borrowings by specialised banks stood at Rs76.918bn in the week, against the preceding week’s figure of Rs76.705bn.
Cash and balances with treasury banks of all scheduled banks went up 1.3pc during the week under review to Rs694.946bn, against the earlier week’s Rs686.025bn.
