Interbank call rates, the rates at which banks borrow short-term funds from each other, were trading flat at Thursday’s close of 7.70/7.75%, but higher compared to repo level of 7.50% as demand remained higher at the first week of reporting cycle since most of the banks prefer borrowing for their mandated requirements in the first half of reporting fortnight.
The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 19237 crore via three days repo window on May 22, 2015, while they borrowed Rs 16543 crore via repo window and parked Rs 1008 crore via reverse repo window on May 21, 2015.
The overnight borrowing rates touched a high and low of 7.80% and 6.75% respectively.
According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was at 7.59% on Friday and total volume stood at Rs 22796.81 crore, so far.
As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was at 7.66% on Friday and total volume stood at Rs 34327.65 crore, so far.
The indicative call rates which closed at 7.70/7.75% on Thursday 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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