THE government raised Rs131.57bn from the auction of Market Treasury Bills held last Thursday, despite having received bids of Rs382.229bn. It however, exceeded the auction target of Rs100bn.
It generated Rs61.565bn from the auction of 12 month T-bills at a cut off yield of 6.0048pc, Rs58.269bn from six month T-bill at 5.9684pc and Rs11.739bn from three month T-bill at 5.9463pc.
Six month T-bill attracted the highest amount Rs219.491bn, followed by three month T-bill with Rs84.431bn and 12 month T-bill Rs78.306bn.
The government injected Rs191.0bn into the banking system through an open market operation conducted on June 9. The offered amount was Rs281.0bn. The amount was accepted at 5.79pc.
According to the weekly statement of position of all scheduled banks for the week ended May 27, 2016, deposits and other accounts of all scheduled banks increased and stood at Rs9744.399bn, over preceding week’s figure of Rs9659.055bn, an increase of 0.88pc.
Deposits and other accounts of all commercial banks stood at Rs9705.211bn against preceding week’s deposits of Rs9620.275bn, showing a rise of 0.88pc. Deposits and other accounts of specialised banks stood at Rs39.188bn, against previous week’s figure of Rs38.780bn. Gross advances of all scheduled banks stood at Rs5043.488bn, a rise of 0.13pc over preceding week’s figure of Rs5036.997bn. Compared with last year’s corresponding figure of Rs4595.776bn, current week’s figure is higher by 9.74pc.
Advances by all commercial banks increased to Rs4882.314bn against previous week’s Rs4875.634bn or by 0.14pc.
Borrowings by all scheduled banks increased in the week under review. It rose to Rs2076.238bn over previous week’s Rs1885.982bn or by 10.08pc. Compared to last year’s corresponding figure of Rs1183.254bn, current week’s figure is higher by 75.46pc.
Borrowings by commercial banks also increased in the week to Rs1998.300bn against previous week’s Rs1808.125bn, higher by 10.52pc.
Investments of all scheduled banks stood at Rs7128.572bn, against preceding week’s figure of Rs6878.607bn, a rise of 3.63pc. Compared to last year’s corresponding figure of Rs5595.050bn, current week’s figure is higher by 27.40pc.
Investments by all commercial banks stood at Rs7099.847bn, against preceding week’s figure of Rs6850.813bn, an increase of 3.63pc. Compared to last year’s corresponding figure of Rs5571.463bn, current week’s figure is higher by 27.43pc.