SAMA to introduce two new money market instruments
Saudi Arabia Central Bank (SAMA) is planning to introduce seven- and 28-day repurchase agreements to lend money to banks when needed. Previously, the Central Bank has typically only used repurchase agreements with one-day maturities. SAMA had announced plans to inject SAR20bn (USD5.3bn) at commercial banks this week in the form of time deposits on behalf of government entities to support financial stability. (Reuters)
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