Hibapress
The liquidity requirement of banks stood at 124.1 billion dirhams (MMDH) on a weekly average in June, compared to 102.1 MMDH a month earlier, according to Bank Al-Maghrib (BAM).
Under these conditions, BAM increased the overall volume of its injections to 138.8 billion dirhams, including 54.4 billion dirhams in the form of 7-day advances, 51.7 billion dirhams through 1 and 3-month repurchase agreements and 32.7 billion dirhams intended for long-term guaranteed loans, the Bank emphasizes in its recent monthly review of the economic, monetary and financial situation.
On the interbank market, the average daily trading volume amounted to 3.3 billion dirhams and the weighted average rate stood at 2.96% on average, against 3% the previous month, following the decision of the Bank’s Board to reduce the key rate by 25 basis points (bp) to 2.75%, taken at its meeting of June 25, 2024.
On the Treasury bond market, rates remained almost stable in June, both on the primary and secondary markets.
As for credit rates, they recorded increases of 11 bp to 2.51% for 6-month deposits and 7 bp to 3.03% for one-year deposits in May. The minimum interest rate for passbook accounts was set for the second half of 2024 at 2.48%, down 25 bp compared to the first half.
As for lending rates, the results of the BAM survey of banks relating to the first quarter of 2024 indicate a quasi-stability of the overall average rate at 5.40%.
By institutional sector, rates on loans to individuals increased by 15 bp to 6.09%, with in particular an increase of 4 bp to 7.22% for consumer loans and a decrease of 2 bp to 4.81% for housing loans.
Regarding the rates applied to business loans, they fell by 4 bp to 5.26% with declines of 5 bp to 5.30% for cash flow facilities, 30 bp to 5.19% for real estate development loans as well as an increase of 21 bp to 5.11% for equipment loans.
