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Emkaynomics |
Fortnightly round up of key banking and economic indicators |
n The growth in non food credit has moved up to 22.9% for the week ended Dec 03, 2010 however growth in deposit mobilisation remained low at 15.1%
n The CD ratio has expanded to 74.3% for the week ended Dec. 03, 2010 with TTM CD ratio moving past 100%. The incr. CD ratio also remained worryingly steep at 100%+
n Money supply growth has moderated further to 16.1% and the money multiplier remained stable at 4.93x
n Call money rates remained stable for the last fortnight at 6.45% on average suggesting that the infusion of liquidity from RBI has calmed the short term money market
n The shortage of liquidity in the system was to the tune of Rs388bn. The net repo balances stood at ~ Rs1.43tn for the week ended Dec 16, 2010.
n The spread between the long and short end OIS has increased and stand at 39bps as opposed to 20 bps last fortnight partly factoring the liquidity infusion by the RBI.
n However, if the spreads continue to move up, it would imply that the bond markets are expecting some more positive news on liquidity from the RBI
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