/IRBIS, May 20, 02/ - On May 20, at Kazakhstan Stock Exchange (KASE) 75 deals were made at the repo floors (including automatic repo sector) amounting to KZT9,461.0m. Results of trades are given in a table. Repo opening transactions, which are made only through counter-trade method, are marked with asterisk.

----------------------------------------------------------------------
                                   Repo rate, % APR
                     ------------------------------
Type of    Calendar                Weighted average   Volume
Repo         Terms,              ------------------      KZT    Number
deal           Days   Min   Max  nominal  effective        m  of deals
---------  --------  ----  ----  -------  ---------  -------  --------
Open              1  4.50  5.00     4.52       4.62  1,721.3        16
Open              2  5.00  5.50     5.27       5.42    515.0         5
Open*             3  5.20  5.20     5.20       5.34    800.0         4
Open              7  5.00  5.75     5.28       5.42  1,009.6        10
Open*            14  5.75  5.75     5.75       5.91    220.0         1
Open*            28  6.50  6.50     6.50       6.70    200.0         2
---------  --------  ----  ----  -------  ---------  -------  --------
Subtotal:                                            4,465.9        38
---------  --------  ----  ----  -------  ---------  -------  --------
Close             3  4.00  5.50     4.71       4.82  1,320.5        13
Close             4  5.20  5.50     5.23       5.36    575.3         3
Close             5  5.00  5.50     5.18       5.31    505.4         3
Close             7  5.00  5.25     5.07       5.20  1,291.3         9
Close             8  5.00  5.00     5.00       5.12    740.8         4
Close            14  5.50  5.50     5.50       5.65    200.0         2
Close            28  6.50  7.00     6.58       6.79    361.8         3
---------  --------  ----  ----  -------  ---------  -------  --------
Subtotal:                                            4,995.1        37
---------  --------  ----  ----  -------  ---------  -------  --------
TOTAL:                                               9,461.0        75
----------------------------------------------------------------------

By counter trade method (in automatic repo sector) a volume of 64 deals has amounted to KZT8,650.0m, including 32 (KZT4,075.0m) repo opening deals and 32 (KZT4,575.1m) repo closing deals. Indicator TONIA according to trades' results has been fixed at the level of 4.52% APR and fell relative to previous trade day by 0.03.

Dynamics of repo rates (on opening transactions for comparable terms) is characterized with following parameters:

----------------------------------------------
  Calendar      Today's  Previous day's
term, days  rate, % APR     rate, % APR  Trend
----------  -----------  --------------  -----
         7         5.28            6.49  -1.21
        14         5.75            6.50  -0.75
        28         6.50            6.50      0
----------------------------------------------

Positions of major categories of participants in the market looked in the following way (based on net positions of opening transactions; in volumes "+" - borrowing, "-" - lending; trends in percents relative to previous trading day).

Pension market subjects: +248.9% (KZT3,785.0m), 8 participants.

Second tier banks (STB):

• +KZT3,554.6m (borrowing, 5 banks), -KZT320.9m (lending, 3 banks);
• in direct deals sector -KZT118.7m, in open trade market (auto repo) +KZT3,115.0m;
• resulting balance +KZT3,233.7m (on previous day it was equal to +KZT2,264.8m).

National Bank decreased on net position its participation in autorepo market by 54.5% relative to previous trading day working only on money borrowing as well on lending. Counteragents of the National Bank on deals were pension market players only. Liquidity regulations instruments were 7-day repo and "overnight" repo.

[2002-05-20]