Bank liquidity deficit widens by 2 billion dirhams in 1 week

The bank liquidity deficit widened slightly from one period to another to 93.4 billion dirhams billion dirhams at the end of the period from September 8 to 14 against 91.4 billion dirhams a week earlier, according to BMCE Capital Global Research (BKGR).

For their part, 7-day advances fell by 2.68 billion dirhams to settle at 36.19 billion dirhams, indicates BKGR in its recent weekly note “Fixed Income Weekly”.

Regarding Treasury investments, these are improving as indicated by the maximum daily outstanding amount of 8.45 billion dirhams as of September 14 (vs. a maximum daily outstanding amount of 1.2 during the previous period), the note indicates.

For its part, the TMP is still stabilizing at 1.50% while the MONIA (Editor’s note, Moroccan Overnight Index Average: overnight benchmark monetary index, calculated on the basis of repo transactions having as collateral the bonds of the Treasury) stands at 1.37%.

Over the next period, BKGR estimates that Bank Al-Maghrib should strengthen its intervention on the Money Market with the injection of 37.3 billion dirhams in the form of 7-day advances against 36.2 billion dirhams the previous week.

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