SBP allows DFIs to participate in OMO

By MG News | June 07, 2022 at 01:05 PM GMT+05:00

0:00

June 07, 2022 (MLN): In the latest development, the State Bank of Pakistan has decided to allow Development Finance Institutions (DFIs) to participate in Open Market Operations (OMOs) with a view to facilitate them in their liquidity management.

As per the circular issued by SBP today, DFIs would be eligible to participate in OMOs as per instructions and procedure for OMOs stipulated in the master circular.

Meanwhile, all other instructions regarding OMO in the master circular will remain unchanged, the notice said.

SBP, as part of its monetary policy implementation, conducts OMO to keep the money market overnight repo rate close to the SBP Target “Policy Rate”.

Earlier, only Schedule Banks and Primary Dealers were allowed to participate in these OMOs.

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