Interbank call rates were trading unchanged at its previous close of 8.05/8.10% on Thursday, as most of the bank already over covered their fortnightly product requirements. However, cash deficit, which also can be gauged from Repo bids, has constantly kept the call rates above the repo level for fourth consecutive session. Seasonal liquidity is expected to deteriorate in this quarter with a pick-up in seasonal cash outflow. However, this could be well counterbalanced with RBI’s OMOs.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 101,635 crore through repo window on October 18, 2012, while, the banks borrowed Rs 86,260 crore through repo window on October 17, 2012.
The overnight borrowing rates touched a high and low of 8.10% and 7.95% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 8.04% on Thursday and total volume stood at Rs 21,898.87 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 8.01% on Thursday and total volume stood at Rs 13,037.75 crore, so far.
The indicative call rates which closed at 8.05/8.10% on Wednesday were contributions made from Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A., Corporation Bank, Credit Agricole Bank, Indusind Bank, ICICI Bank, ICICI Securities, IDBI Bank, Jammu and Kashmir Bank, Punjab National Bank, RBS, Societe Generale, Standard Chartered.
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