The NBU allowed banks to include two more issues of government bonds in their reserves
The National Bank of Ukraine agreed with the proposal of the Ministry of Finance and included the issues of domestic government bonds with maturities on December 4, 2024 (ISIN UA4000227094) and May 21, 2025 (ISIN UA4000227102) in the list of so-called benchmark bonds. This is reported by Business Censor with reference to “Interfax-Ukraine”.
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According to the decision of the board of the NBU No. 40 dated January 30, banks will be able to use these securities to form up to half of the required reserves from February 11.
Let’s remind
Since January 11, the National Bank of Ukraine has increased mandatory reserve requirements for current accounts (demand deposits) in hryvnias and foreign currencies by 5 percentage points. — in accordance with 5% and 15%, allowed to cover up to 50% of the total volume of mandatory reserves at the expense of the benchmark OVHZ.
As a result, the mandatory reserves increased by UAH 74.3 billion to UAH 144.1 billion, which means the limit for the purchase of benchmark OVHZ under reserves in the amount of UAH 72 billion for the period until February 10.
During this time, the National Bank established only one issue of benchmark OVHZ – with ISIN UA4000227045 and maturity on August 7, 2024. At auctions on January 3 and 10, the Ministry of Finance placed these securities for approximately UAH 21.6 billion at 19.25% per annum, while demand exceeded UAH 50 billion.
Source: Ministry of Finance
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