Liquidity slightly absorbed

Liquidity slightly absorbed



15 січня 2015 года
ICU

The NBU continued to absorb liquidity yesterday as total CDs outstanding rose UAH0.56bn to UAH20.95bn while banks' correspondent accounts with the NBU declined UAH0.44bn to UAH34.44bn. Total local currency debt repayments scheduled for the next 30 days remained steady at UAH6.41bn. As a result, broader banking sector liquidity rose a mere UAH0.10bn to UAH61.90bn, a record high since the beginning of October 2014. KyivPrime interest rates continued to decline: the KyivPrime ON interest rate fell 146bp to 10.67% while the KyivPrime 1M interest rate declined a less significant 50bp to 18.00%.

Investment implications: Banking sector liquidity significantly rose since the beginning of the year, and the NBU likely decided to absorb extra liquidity from banks accounts and keeping ON loans at a low level. Although high liquidity reduced money market indicative interest rates significantly, they remained too high, above 10.0%.

Источник: ICU

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