Liquidity recovers due to inflows

Liquidity recovers due to inflows



10 грудня 2014 года
ICU

Banks' correspondent accounts with the NBU recovered UAH3.82bn to UAH29.76bn yesterday, having received a significant injection from the NBU via bond purchases and minor CD redemptions. Total CDs outstanding declined UAH0.31bn to UAH13.58bn while total debt repayments scheduled for the next 30 days rose UAH0.97bn to UAH5.74bn. As a result, broader banking sector liquidity increased UAH4.48bn to this month's record high of 49.07bn. KyivPrime interest rates rose once more yesterday, as the liquidity increase was unavailable to the money market: the KyivPrime ON interest rate rose 74bp to 14.00% while KyivPrime 1M interest rate rose 63bp to 18.63%.

Investment implications: The NBU purchased UAH3.31bn on Monday and repaid UAH0.31bn of CDs, while it decreased ON loans by UAH1.79bn. As a result, the NBU only injected UAH1.83bn, or only half of the increase in banks' correspondent accounts.

Источник: ICU

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