Liquidity down further

Liquidity down further



29 січня 2015 года
ICU

Broader banking sector liquidity fell UAH1.66bn to UAH61.10bn yesterday despite the NBU compensating banks for funds spent at Tuesday's primary bond auction. Banks' correspondent accounts with the NBU declined UAH1.46bn to UAH29.05bn yesterday and the NBU decreased total CDs outstanding UAH0.19bn to UAH23.87bn. At the same time, total local currency debt repayments scheduled for the next 30 days remained steady at UAH8.17bn yesterday. KyivPrime interest rates slightly rose: the KyivPrime ON interest rate rose 38bp to 11.63% while the KyivPrime 1M interest rate rose 25bp to 18.50%, the same level seen on Monday.

Investment implications: The NBU purchased UAH3.32bn of bonds on Tuesday, which is UAH0.37bn more than the MoF sold at the primary auction (bonds outstanding), compensating banks for funds spent at the primary auction. However, this inflow did not cover other outflows, namely month-end tax payments and FX purchasing, causing liquidity to decline.

Источник: ICU

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