Bonds: Liquidity rose above UAH50.0bn due to NBU support

Bonds: Liquidity rose above UAH50.0bn due to NBU support



16 жовтня 2014 года
ICU

Broader banking sector liquidity recovered further yesterday and rose above UAH50.0bn after having fallen significantly last Friday to UAH43.21bn. Banks' correspondent accounts with the NBU rose UAH082bn to UAH29.96bn while total CDs outstanding rose only UAH0.14bn to UAH13.82bn and total local currency debt repayments scheduled for the next 30 days remained steady at UAH6.64bn. As a result, broader banking sector liquidity rose UAH0.96bn to UAH50.42bn. Despite the increase in liquidity, KyivPrime interest rates slightly rose: the KyivPrime ON interest rate rose 15bp to 9.75% and the KyivPrime 1M interest rate rose 45bp to 15.75%.

Investment implications: The NBU purchased UAH4.0bn of government bonds since last Friday, buying UAH1.60bn on Friday, UAH1.70bn on Monday, and UAH0.70bn on Tuesday. These injections were UAH1.0bn more than the MoF issued at the primary auctions. As yesterday's indicators reflected this additional inflow, the market's reaction by increasing yields was due to the specific source of the recovery in liquidity.

Источник: ICU

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