Liquidity recovers above UAH60.0bn



10 червня 2015 года
ICU

Broader banking sector liquidity increased UAH2.67bn yesterday to UAH60.41bn, this month's high. Banks' correspondent accounts with the NBU rose UAH1.36bn to UAH20.76n and total CDs outstanding increased a mere UAH0.0.13bn to UAH34.47bn. Total debt repayments scheduled for the next 30 days rose UAH1.07bn to UAH5.19bn. KyivPrime interest rates slightly diverged: the KyivPrime ON interest rate slid 3bp to 21.10% while the KyivPrime 1M interest rate rose 5bp to 27.80%.

Investment implications: Liquidity recovered after falling last Friday, per data reported by the NBU This increase once more confirmed that the decline was caused by a one-time significant outflow. The NBU provided no significant support as it issued only UAH0.03bn of new ON loans while it absorbed UAH0.13bn of funds via CDs. Although total CDs outstanding rose, banks notably decreased investments in ON CDs to UAH4.17bn from UAH6.62bn the day before, while UAH3.16bn of CDs were sold with maturities from one week to one month. This could indicate that banks invested in CDs do not have large problems with ON liquidity and do not anticipate liquidity to decline until the end of this week. There should be significant outflows during the last week of the month due to month-end tax payments. While only 10% of CDs are scheduled for redemption by the end of the month, nearly half of CDs are to be repaid this week. Meanwhile, rollovers of short-term CDs should continue, setting redemptions for the last week of the month or in July.

Источник: ICU

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