Central Bank of the UAE sets new overnight deposit facility – ZAWYA

Central Bank of the UAE sets new overnight deposit facility – ZAWYA

Central Bank of the UAE sets new overnight deposit facility | ZAWYA MENA Edition HomeEconomyGCCArticleCentral Bank of the UAE sets new overnight deposit facility The ODF will replace the issuance of a one-week Certificate of Deposits    UAE -  The Central Bank of the UAE (CBUAE) has launched a new deposit facility knowns as Overnight Deposit Facility (ODF), according to a press release on Monday.The facility aims to encourage the conventional banks operating in the UAE to deposit their surplus liquidity at the CBUAE on an overnight basis.The ODF, which will replace the issuance of a one-week Certificate of Deposits, will also manage surplus liquidity in the UAE banking sector before launching the Monetary Bills Programme.The facility aims to encourage the conventional banks operating in the UAE to deposit their surplus liquidity at the CBUAE on an overnight basis.UAE -  The Central Bank of the UAE (CBUAE) has launched a new deposit facility knowns as Overnight Deposit Facility (ODF), according to a press release on Monday.The ODF, which will replace the issuance of a one-week Certificate of Deposits, will also manage surplus liquidity in the UAE banking sector before launching the Monetary Bills Programme.The new facility is part of the