Liquidity down despite inflows

Liquidity down despite inflows



13 лютого 2015 года
ICU

Banking sector liquidity remained highly volatile yesterday, falling significantly after it increased on Tuesday, with broader banking sector liquidity down UAH2.10bn this month's low of UAH55.01bn. Banks' correspondent accounts with the NBU declined UAH2.42bn to UAH26.71bn while total CDs outstanding recovered UAH0.32bn to UAH22.13bn. Total local currency debt repayments scheduled for the next 30 days remained steady at UAH6.17bn. KyivPrime interest rates slightly rose: the KyivPrime ON interest rate rose 57bp to 13.57% while the KyivPrime 1M interest rate rose 67bp tp 21.67%.

Investment implications: Liquidity significantly fell yesterday despite at least UAH2.0bn of inflows from the NBU and no absorption from the MoF at the primary bond auction held on Tuesday. Although the NBU increased ON loans by UAH0.91bn to UAH1.36bn and also increased its bond portfolio by UAH1.24bn, these inflows were insufficient to keep liquidity stable. As a result, liquidity was highly volatile over the last few days, falling significantly despite NBU attempts to provide support.

Источник: ICU

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