Bonds: Liquidity recovers slightly

Bonds: Liquidity recovers slightly



14 жовтня 2014 года
ICU

After falling significantly last week, banking sector liquidity slightly recovered yesterday as last Friday's deals were accounted in today's NBU statistics. Banks' correspondent accounts with the NBU rose UAH2.76bn to UAH29.08bn yesterday while total CDs outstanding fell UAH0.61bn to UAH11.79bn and total local currency debt repayments scheduled for the next 30 days remained steady at UAH4.29bn. As a result, broader banking sector liquidity increased UAH2.14bn to UAH45.17bn. KyivPrime interest rates slightly declined: the KyivPrime ON interest rate slid 5bp to 8.75% and the KyivPrime 1M interest rate fell 17bp to 15.63%.

Investment implications: As the NBU issued only UAH0.19bn of new ON loans for four banks, these injections probably had little impact on the liquidity increase. Instead, the NBU supported banks in purchasing bonds at the primary auctions held last Friday and yesterday (see comment below). However, no updated statistics were reported on bondholders' portfolios.

Источник: ICU

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