SHORT-TERM RATES TO REMAIN STABLE ON BANK NEGARA INTERVENTION

12 Jul 2013 11:19

KUALA LUMPUR, July 12 (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 RM23.57 billion in the conventional system and RM4.23 billion in Islamic funds. The BNM will call for four conventional tenders -- RM2 billion for seven days and 31 days -- and RM1 billion for 14 days and 21 days.

It will also undertake a RM300 million repo tender for 123 days and three Al-Wadiah tenders -- RM400 million for seven days, RM200 million for 14 days and RM1 billion for 26 days. At 4 pm, the BNM will conduct a conventional overnight tender of up to RM17.3 billion and a RM3.1 billion Al-Wadiah overnight tender.

-- BERNAMA

NHIZ NHIZ TOM