National bank of Kazakhstan describes GS May 2008 market

/IRBIS, June 10, 08/ - The National Bank of the Republic of Kazakhstan in its regulative press-release on the state of the republic financial market cited information on the state of GS market in Kazakhstan in May 2008. Quotation start In May 2008 there were 3 auctions on offering of government securities of the Ministry of Finance. 12-months MEKKAM for amount of KZT13.7 bn, 2- years MEOKAM (KZT3.9 bn.) and 10-years MEUJKAM (KZT13.0 bn.) were offered for the total amount of KZT30.6 bn. Since the beginning of 2008, government securities of the Ministry of Finance were offered for the total amount of KZT158.7 bn. Effective yield on offered securities totaled: on MEKKAM - 7.58%, on MEOKAM - 8.68%, on MEUJKAM - 0.01% over inflation rate. The volume of GS of the Finance ministry in circulation as of end of May made KZT600.9 bn, having increased compared to previous month by 4.0% (since the beginning of year - by 17.6%). Issue volume of notes of the National bank in May 2008 compared to April 2008 increased by 62.3% to KZT259.0 bn. Since the beginning of the current year issue of notes made KZT876.4 bn. Yield of short-term notes decreased from 6.28% in April 2008 to 6.07% in May 2008. Volume of notes in circulation by the end of May 2008 totaled KZT229.2 bn. having decreased by 6.7% compared to April 2008 (since the year beginning - increase by 0.1%). Quotation end [2008-06-10]