Banking Liquidity: Average Deficit Widens by 1.61% from September 25 to October 1

The average banking liquidity deficit has widened by 1.61% during the period from September 25 to October 1. This deficit comes as Bank Al-Maghrib's (BAM) 7-day advances decreased by 3.45 billion dirhams, settling at 54.86 billion dirhams, according to BKGR's recent note "Fixed Income Weekly." In contrast, Treasury placements have seen an increase, with a maximum daily outstanding amount of 15.4 billion dirhams, up from a maximum of 13.8 billion dirhams in the previous period. The weighted average rate has stabilized at 2.25%, while the Moroccan Overnight Index Average (MONIA) has risen to 2.458%. Looking ahead, BAM is expected to reduce the pace of its interventions in the money market, setting the volume of its 7-day advances at 66.6 billion dirhams, compared to 54.8 billion dirhams previously.