Short-term interbank rates close steady on Bank Negara operations
Before, the primary bank held a traditional marketplace auction for money, two auctions for Qard, and two auctions for reverse repos. - Image by Hari Anggara
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On Monday, August 14, 2023, at 5:00 PM Malaysian Time (MYT),
KUALA LUMPUR, August 14 — The short-term interbank rates remained steady today due to Bank Negara Malaysia's (BNM) efforts to decrease the surplus liquidity in the financial system.
The amount of available funds in the traditional system increased to RM40.23 billion from RM38.56 billion earlier today, while the availability of Islamic funds decreased to RM15.69 billion from RM19.48 billion before.
Before, the primary bank carried out a traditional financial marketplace offer, two Qard offers, and two reverse repurchase offers.
In addition, it stated that a range of financial options are now accessible, including reverse repo, purchase and resale contracts, and collateralized commodity Murabahah facilities for durations of one to three months.
The BNM updated the usual overnight tender amount from RM39.6 billion to RM39.9 billion.
In the afternoon, the main bank requested a conventional money market tender worth RM39.9 billion and a Murabahah money market tender worth RM15.70 billion, both for a duration of one day.
On August 11th, the Malaysia Islamic Overnight Rate (MYOR-i) was recorded at 3.00%, according to Bernama.
