Contact us (+ 7 (921) 446-25-10)
×
Texting is available for authorized users.
Please register or log in at the website.
×
Your request for online training has been sent. Cbonds managers will be in touch with you shortly. Thank you!

UkrSibbank Research: Volatility in O/N rates may grow as new NBU’s regulation takes effect

August 28, 2012 | Cbonds

The balance of the banking system accounts started this week with growth, as widely expected, as MinFin made UAH1.2bn of amortization and coupon payments from the VAT-OVDP on Monday (over UAH0.7bn of payments are to be executed today).
According to our estimations, not more than 25% of these VAT-bonds are held by foreign investors (the total amount being below UAH0.5bn). We thus do not think that the abovementioned debt redemption will result in any sizable amount of funds being converted into dollars and leaving the banking system.
O/N rates currently fluctuate around 18% and we expect them to stay close to the current levels in the near future, excluding only the last day of the month (when we usually see one day hike in rates).
However, volatility in O/N rates may increase, as the NBU’s one month ban on currency purchases for banks which breach reserve requirements came into effect on Aug 23. We think it may increase demand for short-term resources from small banks.


Company: UkrSibbank

Full company namePJSC "UkrSibbank"
Country of riskUkraine
Country of registrationUkraine
IndustryBanks

Share:

Similar news:
minimizeexpand
Cbonds is a global fixed income data platform
  • Cbonds is a global data platform on bond market
  • Coverage: more than 170 countries and 250,000 domestic and international bonds
  • Various ways to get data: descriptive data and bond prices - website, xls add-in, mobile app
  • Analytical functionality: bond market screener, Watchlist, market maps and other tools
×