NBU absorbs extra liquidity

NBU absorbs extra liquidity



27 квітня 2015 года
ICU

With UAH9.86bn in CD redemptions last Thursday, banks could receive extra liquidity for month-end tax payments conclude. But as the NBU sold UAH11.94bn of new CDs last Thursday, including UAH3.54bn with maturities ranging from seven to 29 days, total CDs outstanding rose UAH2.10bn to UAH26.82bn. After UAH1.22bn of funds was absorbed, banks' correspondent accounts with the NBU declined to UAH25.06bn. Total local currency debt repayments scheduled for the next 30 days remained steady at UAH9.49bn, and broader banking sector liquidity rose UAH0.88bn to UAH61.37bn. KyivPrime interest rates slightly diverged: the KyivPrime ON interest rate slid 13bp to 21.67% while the KyivPrime 1M interest rate rose by the same 13bp to 27.83%.

Investment implications: Last Friday's increase in the indicators should be short-lived as the NBU could sell a fewer CDs than it must repay. Month-end tax payments will continue to be the main reason that liquidity declines this week.

Источник: ICU

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