The National Bank approved two new OVHZ benchmarks. The Ministry of Finance will post one of them today
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The National Bank approved two more benchmarks-OVHZ, which allowed banks to take into account up to 50% of their mandatory reserves, which are formed under the funds attracted by the population and business.
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What is known
The benchmarks are approved by NBU decision No. 40-rsh with the following identifiers:
- UA4000227094 — the first placement of this type of OVHZ took place last Tuesday, January 24, 2023, for UAH 6.32 billion at 19.59% per annum with a maturity date of December 4, 2024;
- UA4000227102 — the first placement of this type of OVHZ took place last Tuesday, January 24, 2023, for UAH 4.89 billion at 19.75% per annum with a maturity date of May 21, 2025. One of these papers will also be placed by the National Bank today, January 31 — for 2.3 years, with maturity on May 21, 2025.
The Ministry of Finance expects that it will be in high demand from banks, which will want to build up to 50% of the required reserves in OVHZ.
Read also: The National Bank named the first privileged OVHZ, which will be included in the ego benchmark Three benchmarks
Now banks have three benchmarks for reserving. The first benchmark OVHZ was approved by the NBU in the first days of 2023, and it became OVHZ for 1.7 years with maturity on August 8, 2024 (UA4000227045) at 19.25%, which the Ministry of Finance placed for UAH 20 billion at the request of banks for UAH 45.4 billion.
Decision of the National Bank No. 40-rsh will enter into force on February 10. And since February 11, the NBU has increased the required reserves for the current accounts of individuals and legal entities by 5%:
- from 5% to 10% — on funds in national currency;
- from 15% to 20% — for funds in foreign currency.
Read also: The National Bank of Ukraine has again raised the requirements for mandatory reserves of banks
The regulator’s official announcement states that, in connection with this, it expects to increase the amount of mandatory reserves by approximately UAH 73 billion. Moreover, they were previously estimated at an average of UAH 70 billion.
Author: 
Elena Lysenko is a financial journalist
Source: Ministry of Finance
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