Bank Al-Maghrib reveals increased liquidity needs in October 2023

Bank Al-Maghrib reveals increased liquidity needs in October 2023

In October 2023, Bank Al-Maghrib (BAM) disclosed that the weekly average liquidity needs of banks rose to 94.9 billion dirhams, compared to the previous month’s 88.8 billion dirhams.

According to the Central Bank’s monthly review of the economic landscape, it intensified injections to 109.6 billion dirhams. This included 42.9 billion in 7-day advances, 40.3 billion through long-term pension operations, and 26.4 billion in long-term guaranteed loans.

On the interbank market, daily trading volume in October reached MAD 2.8 billion, with a weighted average rate of 3%. Treasury bill market rates experienced a slight decline, both in primary and secondary markets. Deposit rates increased by 15 basis points to 2.52% for 6-month deposits in September but decreased by 4 basis points to 2.49% for one-year deposits.

Lending rates, surveyed in the third quarter of 2023, showed an overall quarterly increase of 10 basis points to 5.36%. Business loan rates rose to 5.32%, specifically increasing for cash flow facilities (5.31%) and real estate development (5.71%). Home loan rates increased by 10 basis points to 4.74%, while rates for consumer loans decreased by 2 basis points to 7.25%.


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