Liquidity down due to tax payments

Liquidity down due to tax payments



2 грудня 2014 года
ICU

As last Friday was the last day of month-end tax payments, banking sector liquidity significantly fell a substantial UAH3.30bn to UAH44.92bn yesterday as banks' correspondent accounts with the NBU declined UAH1.90bn to UAH25.15bn and total CDs outstanding were downUAH1.39bn to UAH14.96bn. Total debt repayments scheduled for the next 30 days remained steady at UAH4.82bn. KyivPrime interest slightly diverged: the KyivPrime ON interest rate rose again yesterday, up 20bp to 11.40%, while the KyivPrime 1M interest rate remained steady at 17.00%.

Investment implications: The NBU significantly decreased CDs outstanding to support banks' correspondent accounts with the NBU to bolster liquidity from too steep of a decline.

Источник: ICU

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