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Call rates edge higher; within central bank's emergency funding rate

31 Jul 2013 Evaluate

Interbank call rates were trading at 10.00/10.05% against its previous close of 9.00/9.10% on Tuesday, well within central bank's emergency funding rate of 10.25%, despite  being the first week of reporting cycle, where demand is usually higher.

The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 37699 crore through repo window on July 31, 2013, while banks, borrowed Rs 37954 crore through repo window and parked Rs 275 crore via reverse repo window on July 30, 2013.

The overnight borrowing rates touched a high and low of 10.25% and 9.90% respectively.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 9.99% on Wednesday and total volume stood at 9781.18 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 10.04% on Wednesday and total volume stood at Rs 54360.95 crore, so far.

The indicative call rates which closed at 9.00/9.10% on Tuesday 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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