Liquidity down significantly

Liquidity down significantly



16 січня 2015 года
ICU

Broader banking sector liquidity fell UAH3.08bn to UAH58.82bn yesterday after setting a record high on Wednesday. Banks' correspondent accounts with the NBU fell UAH3.34bn to UAH31.10bn and total local currency debt repayments scheduled for the next 30 days declined UAH0.70bn to UAH5.81bn. Total CDs outstanding rose UAH0.96bn to UAH21.91bn yesterday. KyivPrime interest rates slightly diverged: the KyivPrime ON interest rate slid 27bp to 10.40% while the KyivPrime 1M interest rate rose 20bp to 18.20%.

Investment implications: Despite the MoF repaying UAH0.70bn in local currency on Wednesday and the NBU issuing an additional UAH0.69bn in 13-days loans to seven banks, liquidity fell significantly yesterday, possibly as a result of the NBU requesting pre-payment of some loans to decrease liquidity in the banking system. Liquidity should fall once more today after yesterday's primary auction (see comment below) if the NBU did not support this demand via domestic QE.

Источник: ICU

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