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Abu Dhabi: Liquidity conditions were tight at UAE banks during the third quarter of the years as banks' current account with the central bank rose and Certificate of Deposits, or CDs, they held declined, according to a UAE Central Bank report.
The main liquidity indicator monitored at the central bank is banks' excess reserves, i.e., their current account at the central bank and their holdings of CDs.
Banks' current account at the central bank rose from Dh17.3 billion at the end of the second quarter to Dh17.7 billion at the end of the third quarter while CDs held by banks decreased from Dh101.3 billion to Dh97.4 billion during the same period.
Total bank liquidity, including reserve requirements and highly-rated government and public sector debt, decreased from Dh282.8 billion at the end of second quarter to Dh280.1 billion at the end of the third quarter.
Central bank's foreign currency assets at the end of the third quarter were Dh267.1 billion against Dh274.6 billion in the second quarter, excluding $10 billion Dubai government bonds.
haseeb@khaleejtimes.com
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