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Money Market Indicators (In Percentage)

Money Market Indicators (In Percentage)
  2008
Month October November December
Inter-Bank Call Rate 14.09 15.77 12.17
Minimum Rediscount Rate (MRR)
Monetary Policy Rate (MPR) 9.75 9.75 9.75
Treasury Bill Rate 7.72 6.90 5.61
Savings Deposit Rate 2.79 2.78 2.92
1 Month Deposit Rate 12.42 12.33 11.65
3 Months Deposit Rate 12.94 12.79 12.26
6 Months Deposit Rate 13.15 12.98 12.45
12 Months Deposit Rate 13.08 12.84 12.41
Prime Lending rate 14.81 14.58 15.26
Maximum Lending Rate 19.19 20.45 21.15
       

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Note: The Bank replaced MRR with MPR on December 11, 2006

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Facts : 1/1/1990
Guidlines for Licensed Banks:In 1990, the CBN introduced a set of Prudential guidelines for licensed banks which were complimentary to the capital adequacy requirement and statement of accounting standards. The guidelines spelt out the criteria to be adopted by banks in classifying non-performing loans.
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