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Tuesday, November 17, 2015, Agrahayan 3, 1422 BS, Safar 4, 1437 Hijri

Market Update
Call money market becomes active
Observer Analysis
Published :Tuesday, 17 November, 2015,  Time : 12:00 AM  View Count : 14

Interbank call money market was very active on Monday as the demand for call money shot up higher following increased business activities. But the call money rate remained at its low level, fund managers said.
The overnight money rate touched its high at 6.00 per cent and low at 4.50 per cent when reverse repo stood at 5.25 per cent and 91-day treasury bills at 5.28 per cent, central bank officials said.
Janata Bank, Sonali Bank, Basic Bank, AB Bank, Agrani Bank, Rupali Bank, IFIC Bank, Eastern Bank, The City Bank, One Bank, Meghna Bank, Prime Bank and Southeast Bank, among others, remained the major lenders of the market over the last few days, central bank officials said.
More than 12 nonbank financial institutions took part in call money operations Monday and borrowed money at higher rates of the day as banks refused them to lend money at competitive market rates.
More than 45 banks were under pressure with surplus funds and such banks invested money in call money market to minimize the costs of deposits. Credit flow to private sector remained stagnant since long which has piled up a huge amount of surplus funds.

Editor : Iqbal Sobhan Chowdhury
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