Only banks and financial institutions of category 'A', 'B' and 'C' licensed by the National Bank will be allowed to participate in the bidding.
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Nepal Rastra Bank is drawing 20 billion rupees in deposits on Sunday (today). After maintaining excess liquidity, the Nepal Rastra Bank is going to draw deposits again today through the deposit collection tool, BidBol, for 84 days.
The total deposits have now reached more than 75 trillion. The central bank has been drawing liquidity through deposit collection tools and fixed deposit facilities to manage the excess liquidity of the financial system and interest rates.
Only banks and financial institutions of category 'A', 'B' and 'C' licensed by the National Bank will be allowed to participate in the bidding.
While allocating the long-term deposit collection amount, the amount with the lowest bid will be distributed in order of priority according to the interest rates bid by the counterparties and the amount will be distributed gradually up to the called amount.
The deposit is being raised through the online purchase system today and the interest rate will be determined through the bidding. The Rastra Bank has informed that the principal and interest of the deposit collection tools that will be bid today will be paid on Chaitra 1, 2082. The amount that can be bid will be up to the total called amount, dividing it by a minimum of 100 million rupees and a maximum of 50 million rupees.
In particular, according to the central bank's open market transaction procedures, if there is a long-term excess liquidity situation in the financial market and to manage the market interest rate, the Transaction Operations Committee can use the long-term deposit collection tool for a maximum period of 6 months under the structural open market transaction on any day as needed. Based on this arrangement, the central bank has been using the deposit collection tool repeatedly.
