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More than 5 trillion dinars value auctions
1/13/2015 0:00
2015
BAGHDAD - Mustafa al-Hashemi
At a time when the Iraqi Central Bank announced its plan to issue Hawwalath of the order of 91 days for this year worth more than 5 trillion dinars, a banking consultant confirmed that the sale of remittances represents one means of monetary policy taken by the bank to deal with the levels of liquidity on a temporary basis, as well as it represents an investment-free risks making them play an active role in the secondary market.
Said Dr. Essam Mahouelle "said the central bank keen on the implementation of monetary policy and invest their tools, including the Iraqi economy in general serve."
He Mahouelle told the "morning": "The sale of the Central remittances of monetary policy aimed at the money supply outside the banking sector absorption, transformation and directed to the banking system tools for intervention credits granted by banks to serve the country's economy and contribute actively in the development process."
And "The remittances is a bond between the two due to the repayment of between three months and full year which leaves non-interest bearing, but sold a certain discount to their face value and gives the government the relatively low interest cash compared to the price prevailing on the bank loan interest rates because of the severity of the liquidity of these stemming from the possibility of cases deducted before the date of maturity at commercial banks. "
To the Iraqi Central Bank announced its plan to issue Hawwalath the 91-day auctions organized in the bank's headquarters in the Bank conducted the first auction for the sale of Hawwalath type C of the 91-day and $ 200 billion dinars for issuance under the plan during the current year.
A source at the bank "morning" completed auctions bank sold 140 billion and 750 million dinars at the price of a multi-benefit and highest discount rate (5 percent).
Remittances to order
He explained: participated in the auction 5 beneficiaries represented by four banks in addition to the care of minors circle, indicating that the circuit won Basdaria amounts provided.
He stressed that the central bank announced its plan to issue Hawwalath for 91-day terms included an auction at a rate of 26 auctions in every month except for the months of March and September, which is scheduled to witness the establishment of three auctions to sell money orders.
He pointed out that the amount of remittances emissivity 200 billion dinars for each auction, indicating that the total amount of the total Asdaria 5 trillion and 200 billion dinars.
The sale transfers the central bank to the government departments and banks, one of the monetary policy pursued by the central organization of liquidity tools and control, as well as the achievement of financial benefit to government departments to participate in these auctions through interest and discount those Alhawwalat.kma prices, the Central Bank sold Hawwalath to private banks and the amounts ranging between 100 to 150 billion dinars, or the duration of a week more than that, and the price of a multi-utility highest discount rate of 5 percent for the purpose of controlling the levels of liquidity.
The central bank last year carried 26 auction also mentioned the same value, as it should be noted that the auction remittances C is a uniform price auction with a nominal value of 200 billion dinars.
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1/13/2015 0:00
2015
BAGHDAD - Mustafa al-Hashemi
At a time when the Iraqi Central Bank announced its plan to issue Hawwalath of the order of 91 days for this year worth more than 5 trillion dinars, a banking consultant confirmed that the sale of remittances represents one means of monetary policy taken by the bank to deal with the levels of liquidity on a temporary basis, as well as it represents an investment-free risks making them play an active role in the secondary market.
Said Dr. Essam Mahouelle "said the central bank keen on the implementation of monetary policy and invest their tools, including the Iraqi economy in general serve."
He Mahouelle told the "morning": "The sale of the Central remittances of monetary policy aimed at the money supply outside the banking sector absorption, transformation and directed to the banking system tools for intervention credits granted by banks to serve the country's economy and contribute actively in the development process."
And "The remittances is a bond between the two due to the repayment of between three months and full year which leaves non-interest bearing, but sold a certain discount to their face value and gives the government the relatively low interest cash compared to the price prevailing on the bank loan interest rates because of the severity of the liquidity of these stemming from the possibility of cases deducted before the date of maturity at commercial banks. "
To the Iraqi Central Bank announced its plan to issue Hawwalath the 91-day auctions organized in the bank's headquarters in the Bank conducted the first auction for the sale of Hawwalath type C of the 91-day and $ 200 billion dinars for issuance under the plan during the current year.
A source at the bank "morning" completed auctions bank sold 140 billion and 750 million dinars at the price of a multi-benefit and highest discount rate (5 percent).
Remittances to order
He explained: participated in the auction 5 beneficiaries represented by four banks in addition to the care of minors circle, indicating that the circuit won Basdaria amounts provided.
He stressed that the central bank announced its plan to issue Hawwalath for 91-day terms included an auction at a rate of 26 auctions in every month except for the months of March and September, which is scheduled to witness the establishment of three auctions to sell money orders.
He pointed out that the amount of remittances emissivity 200 billion dinars for each auction, indicating that the total amount of the total Asdaria 5 trillion and 200 billion dinars.
The sale transfers the central bank to the government departments and banks, one of the monetary policy pursued by the central organization of liquidity tools and control, as well as the achievement of financial benefit to government departments to participate in these auctions through interest and discount those Alhawwalat.kma prices, the Central Bank sold Hawwalath to private banks and the amounts ranging between 100 to 150 billion dinars, or the duration of a week more than that, and the price of a multi-utility highest discount rate of 5 percent for the purpose of controlling the levels of liquidity.
The central bank last year carried 26 auction also mentioned the same value, as it should be noted that the auction remittances C is a uniform price auction with a nominal value of 200 billion dinars.
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