SBP Liquidity Injection: Central Bank Injects Rs1.021 Trillion Into Banking System

KARACHI: The State Bank of Pakistan (SBP) injected Rs1.021 trillion into the banking system through conventional and Shariah-compliant open market operations (OMOs) on Friday, November 13, according to the central bank.

Conventional reverse repo operations accounted for Rs829.636 billion in accepted bids on a realised-value basis, while Shariah-compliant Mudarabah-based operations contributed Rs191.7 billion.

Under conventional OMOs, the SBP received bids worth Rs1.187 trillion in realised value and accepted Rs829.636 billion, equivalent to a combined face value of Rs854.65 billion.

For the seven-day tenor, the central bank accepted the entire Rs129.810 billion offered in realised value at a rate of 12.02%. For the 14-day tenor, it accepted Rs699.826 billion against offers of Rs1.057 trillion at 12.06%.

The SBP received six bids for the seven-day tenor and 18 for the 14-day tenor, accepting six and nine bids, respectively.

According to the notification, bids worth Rs750 billion in face value were submitted at the 14-day rate of 12.06%, of which Rs613 billion was accepted on a pro-rata basis.

Separately, the central bank injected Rs191.7 billion through Shariah-compliant Mudarabah-based OMOs against total offers of Rs316.963 billion in realised value.

Of the accepted amount, Rs41.7 billion was provided for seven days at a return of 12.06%, while Rs150 billion was injected for 14 days at 12.04%.

The Islamic liquidity operation attracted one bid for the seven-day tenor and four for the 14-day tenor. All five bids were accepted, although the total amount allotted was lower than the amount offered.

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The SBP said bids worth Rs245 billion in face value were submitted at the 14-day return of 12.04%, of which Rs118.4 billion was accepted on a pro-rata basis.

Across both conventional and Shariah-compliant operations, the central bank received bids totalling Rs1.543 trillion in face value and accepted Rs1.050 trillion, equivalent to Rs1.021 trillion on a realised-value basis.