The liquidity needs of banks recorded a slight attenuation during the month of August 2022, compared to the previous month, according to the Department of Studies and Financial Forecasts (DEPF) under the Ministry of Economy and Finance.
In this context, the Central Bank slightly reduced the volume of its liquidity injections which stood at a weekly average of 104.9 billion dirhams (MMDH) after 107.6 billion in July, indicates the DEPF in its note of situation of September 2022.
Bank Al-Maghrib’s interventions focused mainly on 7-day advances on calls for tenders (39.5 billion dirhams after 44.9 billion in July), repurchase agreements (38.9 billion dirhams after 38 billion in July), guaranteed loans granted as part of support programs for the financing of VSMEs (26.5 billion dirhams after 24.2 billion in July).
As for the average weighted overnight interbank rate (TIMPJJ), this has remained, since June 18, 2020, in almost stable evolution, aligned with the key rate at 1.50%, notes Management.
Regarding the average volume of interbank transactions, it increased compared to the previous month by 4.3% to stand at 3.3 billion dirhams.
Regarding the evolution of lending rates in the second quarter of 2022, the overall weighted average rate almost stagnated compared to the previous quarter, standing at 4.29% after 4.28%, said the same source, explaining this evolution by the joint effect of the rise in equipment loan rates (+26 bp to 4.56%), real estate (+5 bp to 4.65%) and cash (+2 bp to 3, 92%), mitigated by the fall in consumer credit rates by 20bp to 6.30%.