Govt sells Treasury bills worth Rs267b
The Federal government sold Rs267.371 billion worth of market treasury bills last Thursday, exceeding the auction target of Rs100 billion. However, the amount raised was lower than the bids received of a sum of Rs554.722 billion. On May 26, the State Bank of Pakistan injected Rs209.0 billion into the banking system, at a rate of return of 5.79 pc. The amount offered was Rs231 billion. The OMO was for eight-day tenor. According to the weekly statement of position of all scheduled banks for the week ended May 13, 2016, deposits and other accounts of all scheduled banks increased 0.25pc to Rs9,691.947 billion, from Rs9,667.623 billion a week ago. Compared with last year's corresponding figure of Rs8781.146 billion, it was higher by 10.37pc. Deposits and other accounts of all commercial banks inched up to Rs9,653.191b from Rs9,628.808 billion the preceding week.
Total assets of all scheduled banks jumped 1.10pc to Rs13,579.689 billion from Rs13,431.807b the previous week. It was higher by 14.12pc compared to last year's corresponding figure of Rs11,899.844b.