Tuesday, February 12, 2013

Call rates edge a tad higher on higher demand

The overnight borrowing rates touched a high and low of 7.90% and 7.85% respectively

Interbank call rates were trading at 7.85/90% from its previous close of 7.80/7.85% on Monday, on higher demand in the first week of the reporting fortnight. However, cash rates remain little changed given that cut in banks' cash reserve ratio by 25 basis points became effective on February 9 and released Rs 18,000 crore into the system.

The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 123,965 crore through repo window on February 12, 2013, while banks using LAF facility borrowed Rs 109,480 crore through repo window on February 11, 2013 and parked Rs 10 crore via reverse repo window on the same day.

The overnight borrowing rates touched a high and low of 7.90% and 7.85% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 7.82% on Tuesday and total volume stood at Rs 22,151.39 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.76% on Tuesday and total volume stood at Rs 25,246.65 crore, so far.

The indicative call rates which closed at 7.80/85% on Monday 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, so far.




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