Bank liquidity: the deficit widens by 1.24%

Barlamane.com
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21:22 – 12 mars 2023

The bank liquidity deficit widened slightly by 1.24% to stand at 107.5 billion dirhams (MMDH), during the week running from March 2 to March 8, indicates BMCE Capital Global Research (BKGR).

This situation comes at a time when the 7-day advances of Bank Al-Maghrib (BAM) increase by only 60 million dirhams (MDH), indicates BKGR in its recent note “Fixed Income Weekly”.

For its part, the Treasury continues to strengthen the level of investments of its surpluses, posting an average daily outstanding amount of 32.5 billion dirhams ( once morest 32.9 billion dirhams the previous period).

Under these conditions, the weighted average rate (TMP) stabilized at 2.50% while the MONIA (Editor’s note, Moroccan Overnight Index Average: overnight benchmark monetary index, calculated on the basis of repurchase transactions having as collateral Treasury bills) fell slightly to 2.406%.

Over the next period, BAM should significantly reduce its intervention on the Money Market with the injection of only 14.2 billion dirhams in the form of 7-day advances once morest 39.9 billion dirhams the previous week, BKGR forecasts.