OMO Result: SBP injects Rs12.8tr

MG News | April 11, 2025 at 01:04 PM GMT+05:00

0:00

April 11, 2025 (MLN): The State Bank of Pakistan (SBP) conducted a reverse repo and Shariah Compliant Modarabah based Open Market Operation (OMO) today, in which it cumulatively injected a total of Rs12.82 trillion into the market of which Rs12.3tr were injected through reverse repo OMO.

Summary of OMO Result (Conventional)
		Amount (Rs in Million)		Rate (%)		Quotes
Tenor	Type	Offered	Accepted	High – Low	Accepted	Offered	Accepted
7D	Reverse Repo (Injection)	673,550	673,550	12.13 - 12.09	12.09	11	11
14D	Reverse Repo (Injection)	11,870,200	11,617,350	12.13 - 12.07	12.08	24	23
Total		12,543,750	12,290,900

Meanwhile, the remaining Rs550 billion was injected through Shariah-compliant Modarabah-based OMO.

Summary of OMO Result (Shariah)
		Amount (Rs in Million)		Rate (%)		Quotes
Tenor	Type	Offered	Accepted	High – Low	Accepted	Offered	Accepted
7D	Reverse Repo (Injection)	363,200	363,200	12.14 - 12.09	12.09	08	07
14D	Reverse Repo (Injection)	187,000	187,000	12.15 - 12.10	12.10	05	03
Total		550,200	550,200

Explanatory Note

Open Market Operation is a tool used by SBP to inject or mop-up funds, based on the liquidity requirements, from the banking system via the purchase or sale of eligible securities.

Operationally, in case of OMO (Injections), SBP lends funds to banks/Primary Dealers (PDs) against eligible collateral to address liquidity shortage in the system.

For OMO (Injections), marketable government securities, i.e. Market Treasury Bills (MTBs) and Pakistan Investment Bonds (PIBs) are eligible securities.

In OMO (Mop-up), SBP sells MTBs to banks against funds to remove surplus liquidity from the system.

Eligible collateral for OMO (Mop-up) includes selling MTBs (on repo or outright basis) to banks for removing excess liquidity from the system.

In case of Bai-Muajjal, a Shariah compliant tool for managing liquidity in the Islamic banking system, GOP Ijara Sukuk are eligible securities.

Banks and PDs are eligible counterparties to OMO transactions. For Bai Muajjal transactions, Islamic banks and specialized Islamic windows of conventional banks are eligible counterparties.

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