Rise of the key rate increases the price of NBU loans significantly

Rise of the key rate increases the price of NBU loans significantly



4 березня 2015 года
ICU

Yesterday, the NBU increased of its key rate from 19.5% to 30%, effective today March 4. This will have the most severe impact on banks heavily dependent on NBU loans - Privatbank (with UAH20.6bn in NBU loans, or 11.3% of total liabilities, as of January 2015), Oschadbank (UAH20bn; 18.4%), UkrEximbank (UAH5.3bn; 4.7%), Financial Initiative (UAH9.3bn; 30.4%), Finance and Credit (5.0bn; 15.8%). A significant share of these loans is at an interest rate equal to the NBU key rate plus 1.5%. NBU has made a waver for the existing stabilization loans - interest rate for them would be fixed until June 1st 2015 at the existing level (21%). The banks should aim to reduce their outstanding NBU debt and offer depositors higher (up to 5ppt) interest rates. While most banks currently have been experiencing a significant run on deposits, the NBU earlier offered commercial banks the chance to profile their NBU-originated debts to prevent any further drain on liquidity.

Источник: ICU

Другая макроэкономика от ICU


Компании

все компании