Erste Research: Згортання ліквідності на банківському ринку

Ерсте Банк, 2011/08/15

Дані місячної давності. Але є що почитати, над чим подумати…

Money Market
The banking system has suffered a significant liquidity outflow. With liquidity draining from the banking system and interest rates soaring, the NBU had no incentive to continue its policy of monetary tightening seen in recent weeks. It is even quite likely that it already had to engage in providing separate banks with credit lines, for the first time since 2009.

Debt market
Demand for new bonds has dropped with the liquidity crunch in the banking system. There are almost no buyers of new bonds at primary auctions. Taking into account the risks to the global financial system, the prime minister pledged to cut the budget deficit in 2012 ‘to a minimum’, promising to create reserves in case of potential economic problems.

FX Market
Counter-intuitively, the recent turmoil (with US and Eurozone debt problems) has helped hryvnia stability, especially since the end of July. The population has been losing confidence in its favorite savings and safety resort – USD and EUR cash.

Дослідження UA Fixed Income Monthly у форматі  пдф

 

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