58 thousand billion tomans repurchase agreement in the implementation of open market operations
According to the report of the financial monetary news, citing the public relations of the central bank, the report of the implementation of the monetary policy – case (June 10, 1402) was published. In this report, the details have been explained by publishing a table.
In the framework of the liquidity management required by the Riyal interbank market, the Central Bank implements open market operations on a weekly and case-by-case basis. The operational position of this bank (buying or selling through existing tools) is announced based on the prediction of the liquidity situation in the interbank market and with the aim of reducing the fluctuations of the interbank market rate around the target rate, through the publication of a notice in the interbank market system. Following the aforementioned announcement, banks and non-bank credit institutions can send orders through the interbank market system by the specified deadline in order to manage their liquidity in the interbank market.
Banks and non-banking credit institutions can use regular crediting (receiving credit with collateral from the central bank) on Saturdays to Wednesdays, subject to the possession of government Islamic financial bonds and in the form of a repurchase agreement with the ceiling rate of interest rate (24%).