CBB Implements Inter-Bank Repo Using Conventional SecuritiesSource: www.export-egypt.com 12/9/2018, Location: Middle East |
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As part of the ongoing efforts towards the development of the banking sector and promoting liquidity management for conventional retail banks, the Central Bank of Bahrain (CBB) launched a new liquidity management tool ‘Interbank Repurchase’ (Inter-bank Repo) for the Government of Bahrain conventional securities denominated in Bahraini Dinars.
Through an Inter-bank Repo transaction, the bank which requires liquidity can sell its government of Bahrain securities to the bank which provides liquidity for a pre-defined period and an agreed price. On the Repo closing date, the system will automatically execute the closing leg to return securities to the original Deliverer and funds to the original Receiver (Payee). The transfer and settlement of securities and the transfer and settlement of funds occurs through the Scripless Securities Settlement (SSS) System and the Real Time Gross Settlement System (RTGS) operated by the Central Bank of Bahrain. This tool will help conventional retail banks borrow from the local market at lower interest rates and with the guarantee of the securities as a collateral. This tool will also allow for investing excess liquidity at a lower risk. Offering this type of liquidity management tool will help in improving the money market and liquidity in the domestic market. |
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