Liquidity down slightly

Обзор облигаций 25.01.2016 Banking sector liquidity slid UAH0.30bn to UAH118.81bn last Friday as banks' correspondent accounts with the NBU declined UAH5.36bn to UAH43.36bn while total CDs outstanding rose UAH5.07bn to UAH75.45bn. Investment implications: Liquidity was mostly reallocated to CDs, back from Wednesday's reallocation to banks' accounts. A slightly improved FX market and postponement of tax payments for this week made purchasing of CDs a better decision than keeping funds at banks' accounts at the NBU.