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Banks' demand for 12-month NBU refinancing down to UAH 170 mln this week

KYIV. May 3 (Interfax-Ukraine) – The National Bank of Ukraine (NBU) provided only UAH 170 million in the only one-year refinancing tender last week on Friday, April 29, compared to UAH 1.358 billion a week earlier, according to information on its website.

According to it, at the same time, the demand for the purchase of overnight NBU deposit certificates by banks remained record high for almost the entire week – 60-62 banks purchased deposit certificates for UAH 185.3-187.8 billion.

Only on Friday, the demand for them dropped to UAH 168.1 billion.

The National Bank has not yet published data for Friday on the number of banks that formed the demand for both refinancing loans and the purchase of deposit certificates.

As reported, on April 16, the National Bank indicated that it would hold tenders for refinancing for up to a year once a week – every Friday instead of every day, as it was before.

It was clarified that, if necessary, the National Bank may announce tenders for the provision of refinancing loans on other days of the week.

The NBU, on the day Russia began the war against Ukraine on February 24, announced the refinancing of banks to maintain liquidity for up to a year with the possibility of prolongation for another year, while earlier their period was limited to 28 days.

The rate on refinancing loans is 11% per annum, while deposit certificates are placed at 9% per annum.

In total, since the beginning of the war, the National Bank has provided liquidity support for a period of a year for a total amount of just over UAH 72 billion, including UAH 42 billion in blank. At the same time, according to the NBU, the majority of blank loans were repaid ahead of schedule, and the debt on them decreased to less than UAH 9 billion.