SBP to publish banks’ reserves weekly data

State Bank of PakistanKARACHI: In order to bring more efficiency in the money market operations of banks, State Bank of Pakistan has decided to publish the weekly data of Excess Cash Reserves maintained by Commercial Banks over and above the minimum required Cash Reserve Requirement.

Excess cash reserve not only adversely impacts smooth functioning of the interest rate corridor but also has implications on banks own liquidity management. State Bank of Pakistan expects that dissemination of this data will bring more transparency and efficiency in the domestic money market. – Nation