At the Treasury bill auction held on August 13, State Bank of Pakistan received bids for 3 month bills, but there was no bid for 6 month. For 12 month paper bids of Rs51 million were received.

The SBP sold T-bills of 3-month for Rs35.9 billion at a cut off yield of 12.29 against 12.19 per cent in the entire auction. It received total bids of Rs39.257 billion.

According to the weekly statement of position of all scheduled banks for the week ended August 2, 2008, deposits and other accounts of the scheduled banks stood at Rs3,783.893 billion, higher by Rs6.308 billion over preceding week’s figure Rs3,777.585 billion. Commercial banks deposits showed a rise of Rs6.99 billion over the week to Rs3,771.856 billion, against preceding week’s Rs3,764.866 billion. Specialized banks deposits stood at Rs12.036 billion, against preceding week’s Rs12.718 billion, a fall of Rs0.682 billion.

Borrowings by all scheduled banks increased further during the week over preceding week’s figure. It rose to Rs378.862 billion over preceding week’s figure of Rs364.722 billion, a rise of Rs14.14 billion.

This was due to a rise in the borrowings by commercial banks, which rose to Rs297.355 billion against previous week’s Rs283.381 billion, or by Rs14.074 billion. Borrowings by specialized banks stood at Rs81.407 billion, against preceding week’s figure of Rs81.341 billion.

Gross advances stood at Rs2,852.855 billion in the week under review, a rise of Rs4.011 billion over preceding week’s figure of Rs2,848.844 billion. Advances by commercial banks rose to Rs2,754.250 billion against earlier week’s figure of Rs2,750.197 billion, or by Rs4.053 billion. Advances of specialised banks stood at Rs98.605 billion, smaller by Rs0.042 billion over earlier week’s figure of Rs98.647 billion.

Investments of all scheduled banks increased in the week by Rs6.01 billion to Rs1,066.406 billion against preceding week’s figure of Rs1,060.396 billion. Commercial banks investment rose to Rs1,052.154 billion, from earlier week’s Rs1,046.115 billion, or by Rs6.039 billion. Specialised banks investment stood at Rs14.252 billion, against preceding week’s Rs14.281 billion, smaller by Rs0.029 billion.

Cash and balances with treasury banks of all scheduled banks increased by Rs10.909 billion during the week to stand at Rs443.090 billion against earlier week’s Rs432.181 billion. The figure for commercial banks stood at Rs440.078 billion against preceding week’s figure of Rs429.081 billion, a rise of Rs10.997 billion, while of specialised banks it stood at Rs3.012 billion over previous week’s Rs3.100 billion.

Total assets of scheduled banks stood at Rs5,019.982 billion, higher by Rs26.985 billion, over preceding week’s figure of Rs4,992.997 billion.

Meanwhile, commercial banks assets stood at Rs4,892.819 billion, higher by Rs27.589 billion over previous week’s figure of Rs4,865.230 billion. Specialised banks assets fell to Rs127.163 billion, or by Rs0.604 billion over previous week’s Rs127.767 billion.