The government has raised more than 300 billion from the sale of OVHZ since the beginning of the war
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Since the beginning of the full-scale war, the government of Ukraine has attracted 203.7 billion UAH, 1.97 billion dollars and 1 billion euros from the placement of OVZZ at auctions. UAH 222.39 billion, $2.79 billion and EUR 662.6 million were sent to repay domestic debt securities for the same period. This is evidenced by the data of the depository of the National Bank.
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In January, the borrowing of the Ministry of Finance on the domestic debt market by UAH 44.9 billion (equivalent) exceeded its payments on bonds of the domestic state loan.
It is noted that the National Bank, together with the government, is making efforts to activate the hryvnia segment of the domestic debt market.
In particular, for this purpose, from January 11, 2023, the National Bank provided an opportunity for banks to cover up to 50% of the total required reserves at the expense of the benchmark OVHZ with the international identification number (ISIN) UA4000227045.
In addition, from February 11, banks will have the opportunity to include two additional issues of benchmark OVHZ with ISIN UA4000227094 and UA4000227102 in the coverage of mandatory reserves,” the message says.
Read also: The National Bank approved two new benchmarks-OVHZ
For its part, the Ministry of Finance is raising rates on hryvnia OVHZ. In particular, if at the beginning of October 2022 the maximum rate for hryvnia military OVHZ was 16% per annum, then in January 2023 it increased to 19.7% per annum.
Who has the biggest portfolio?
The largest volume of these securities is concentrated in banks — primary dealers. The second largest in terms of volume is the portfolio of military bonds owned by citizens and businesses of Ukraine.
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21.42 billion hryvnias or 21.3% of the total volume of acquired hryvnia military OVHZ (as of January 1 — 20,248.8 million hryvnias or 20.2%);
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$344.1 million or 32.0% of the total volume of military OVHZ, nominated in dollars. USA (as of January 1 — $300.5 million or 29.1%);
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92.4 million euros or 17.4% of the total volume of OVHZ denominated in euros (as of January 1 — 86.8 million euros or 17.3%).
The volume of military bonds of the internal state loan owned by non-residents amounts to UAH 8.2 billion and $9 million.
Author: 
News feed editor Anna Nedogybchenko. She writes on the following topics: Finance, banks, economy, investments
Source: Ministry of Finance
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