Call rates unchanged on penultimate day of reporting fortnight

Interbank call rates were trading largely unchanged at 8.00/10% from its previous close of 8.00/8.05% on Wednesday, as banks adequately covered ahead of reporting fortnight. Signs of improved inter-bank liquidity conditions, in absence of a bond auction this week and the RBI's surprise announcement that it will purchase bonds via open market operations were also helping keep liquidity deficit under check.

The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 70,520 crore through repo window on June 14, 2012, while, the banks via LAF borrowed Rs 69,115 crore and parked Rs 50 crore via reverse repo window on June 13, 2012.

The overnight borrowing rates has touched a high of 8.00% and a low of 7.84%, so far.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 8.06% on Thursday and total volume stood at Rs 23,156.32 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 7.97% on Thursday and total volume stood at Rs 23,927.00 crore, so far.

The indicative call rates which closed at 8.00/10% on Wednesday 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 Bank, State Bank of India, Union Bank of India, ING Vysya Bank, BNP Paribas, HDFC Bank, P&S Bank.