Call rates edge higher with fresh reporting fortnight

Interbank call rates were trading higher at 8.00/05% from its previous close of 7.90/80% on Friday, as demand picked up with the start of fresh reporting cycle as banks mostly prefer to cover for their mandated requirements in the first week of the reporting cycle.

The banks via Liquidity Adjustment Facility (LAF) borrowed Rs 64,755 crore through repo window on August 13, 2012, while, the banks via second LAF borrowed Rs 26,780 crore via repo window on August 10, 2012 and parked Rs 590 crore via reverse repo window on the same date.

The overnight borrowing rates has touched a high of 8.15% and a low of 8.05%, so far.

According to the Clearing Corporation of India (CCIL), the weighted average rate (WAR) in the call money market was 8.04% on Monday and total volume stood at Rs 16,033.86 crore, so far.

As per CCIL data, WAR in the CBLO (Collateralized Borrowing and Lending Obligation) market was 8.00% on Monday and total volume stood at Rs 25,583.70 crore, so far.

The indicative call rates which closed at 7.90/80% on Friday 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.