Liquidity down slightly

9 февраля 2016 года

Banking sector liquidity declined UAH2.30bn to UAH116.59bn yesterday as banks' correspondent accounts with the NBU fell UAH1.80bn to UAH35.43bn while total CDs outstanding decreased UAH0.50bn to UAH81.16bn. A slight increase in FX trading was likely the main reason for the liquidity decline.

Investment implications: Despite minor outflows from liquidity, banking sector liquidity remains high. At the same time, the NBU will not absorb funds via 3-month CDs starting this week as it transferred this maturity to the MoF which extended its offering of new 3-month bonds scheduled for today through the following weeks in February. This policy change could increase demand for short-term CDs and possibly have an impact on demand for local currency bonds which, with longer maturities, have higher yields.

Источник: ICU

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