Short-term rates to remain stable on BNM’s operations

Short-term rates to remain stable on BNM’s operations

KUALA LUMPUR, Jan 4: Short-term rates are expected to remain stable today on Bank Negara Malaysia’s (BNM) operations to absorb surplus liquidity from the financial system.

Today’s liquidity is estimated at RM48.27 billion in the conventional system and RM29.43 billion in Islamic funds.

BNM will conduct one range maturity auction (RMA) money market tender worth RM8 billion for two days to 31 days, and one Islamic range maturity auction (iRMA) Qard tender worth RM4.5 billion for seven days to 31 days.

BNM also announced the availability of Reverse Repo, Sale and Buy Back Agreement (SBBA) and Collateralised Commodity Murabahah (CCM) facilities for tenors of one to three months.

BNM reserves the right to reject bank’s bids for overnight tender if liquidity position is not reported before 4pm.

At 4pm, BNM will conduct up to RM40.3 billion conventional overnight tender and RM24.9 billion for Murabahah overnight tender.- Bernama