Saturday, October 24, 2009
SBP dispenses banks Rs.110b to ease liquidity
2:56 PM | 
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KARACHI: State Bank of Pakistan (SBP) on Saturday dispensed 110 billion rupees to banks, aiming at minimizing the deficiency of liquidity in open market banking system, Geo news reported.The rupees were provided for a week on 12.27 interest percent, which will be utilized for Open Market Operations (OMOs).
According to sources, the bargain took place as private banks offered central bank Treasury Bills (TBs) worth of 123 billion rupees, however, SBP only agreed to purchase TBs of 110 billion rupees at 12.27 interest rate.
Mini market dealers said the open market faced liquidity shortage as the banks paid off 123.50 billion rupees to center bank in terms of maturities, which called for OMOs from SBP, sources added.
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