TEHRAN, Iran, May.18
Trend:
Central Bank of Iran (CBI) has agreed to inject $673 million liquidity to banks by a 19.8 percent rate, the CBI public relations stated.
Following the announcement for the sale of the government's debt securities in open market operation, five banks and one non-bank credit institute would send the orders for the sale of securities to the Central Bank of Iran via the interbank system, Trend reports citing IRNA.
In regards to the Central Bank of Iran's prediction of liquidity situation in the interbank market, the CBI approved injecting liquidity by redemption of 14-day credit.
In addition to open market operation, three banks have used the redemption agreement valued at $4.5 billion in recent weeks. Banks and non-bank credit institutes can receive credit from the Central Bank of Iran by providing collateral in the condition that they own the government's debt securities.
A total of $73 million government debt securities that belonged to the Central Bank of Iran were sold in the secondary market by the brokerage.