Autonomous factors of Banking liquidity (AFBL)
Liquidity needs arise from two different sources: the autonomous factors and surpluses or shortages related to the reserve requirements.
Deficiencies or excess in reserves are defined as the difference between the end-of-day balance averages in the settlement central accounts made by the banks and the level of their required reserves.
Autonomous factors refer to all balance sheet items of Bank Al-Maghrib excluding the accounts of banks whose change is independent of the direct control of the central bank. The change in all these items impacts directly and independently banks’ liquidity level.
The most important autonomous factors in terms of volume and fluctuation are the net foreign assets of BAM, currency in circulation and the Treasury current account with the central bank.
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