Liquidity Deficit in Moroccan Banks Reaches 143.3 Billion Dirhams as of February 12, 2026
Liquidity Deficit Expands
As of February 12, 2026, the liquidity deficit in Moroccan banks has escalated to 143.3 billion dirhams. This development is attributed to a significant increase in the seven-day advances from Bank Al-Maghrib (BAM), which rose by 10.3 billion dirhams, bringing the total to 60.6 billion dirhams.
Treasury Placements Increase
In parallel, Treasury placements have shown positive movement, reaching a daily maximum of 11.5 billion dirhams, compared to 9.4 billion dirhams the previous week. This uptick reflects a growing confidence in government securities.
Interest Rates Show Minor Declines
The weighted average rate (TMP) has experienced a slight decrease, now standing at 2.25%. Additionally, the Moroccan Overnight Index Average (MONIA), which is calculated based on repo transactions secured by Treasury bills, has also fallen to 2.21%.
Future Monetary Policy Expectations
Looking ahead, it is anticipated that Bank Al-Maghrib will reduce the pace of its interventions in the money market. Projections suggest that the volume of seven-day advances will be adjusted to 55.2 billion dirhams, down from the current 60.6 billion dirhams.
