SHORT-TERM RATES TO REMAIN STABLE ON BANK NEGARA INTERVENTION

12 Jul 2013 11:19

KUALA LUMPUR, July 4 (Bernama) -- Short-term interbank rates are expected to remain stable today as Bank Negara Malaysia (BNM) intervenes to absorb excess liquidity from the financial system. The central bank estimated today's liquidity at RM26.357 billion in the conventional system and RM8.405 billion in Islamic funds.

BNM will call for four conventional tenders; RM2 billion for seven days, RM1 billion for 14 days, RM1 billion for 21 days and RM2 billion for 28 days.

The central bank will also conduct a RM400 million repo tender for 92 days, as well as four Al-Wadiah tenders comprising RM750 million for seven days, RM500 million for 14 days, RM500 million for 21 days and RM1.5 billion for 28 days. At 4 pm, BNM will conduct up to RM20 billion in conventional overnight tenders and a RM5.5 billion Al-Wadiah overnight tender. -- BERNAMA FBP FBP VMD