/IRBIS, July 31, 00/ - On August 1, KASE will start publication of indicators
of Kazakhstan interbank deposit market.
As it had been informed before, on July 11, 2000, professional participants of
the Kazakhstan financial market, such as major banks, made a decision to
create a generally accepted indicator of interbank deposit market in
Kazakhstan, which could be the Kazakhstan analogue of LIBOR based on its
computation method. For this purpose Memorandum on creation of
interbank deposit market indicator (Memorandum) was developed
(
http://www.kase.kz/GenInfo/NormBase/memo_int.asp).
Following banks have been already determined and joined the
Memorandum: Bank TuranAlem OJSC, CITIBANK KAZAKHSTAN CJSC,
Halyk Bank of Kazakhstan OJSC, Bank CenterCredit OJSC, Subsidiary bank
ABN AMRO Bank Kazakhstan CJSC, KAZKOMMERTSBANK OJSC, Almaty
merchant bank CJSC, Demir Kazakhstan Bank OJSC, Eurasian bank CJSC,
TEMIRBANK OJSC.
The participants of the Memorandum commissioned Kazakhstan stock
exchange (KASE) with collection of the deposit rates from the participants of
the project and computation of the indicator.
Beginning form July 24 the participants of the project began to put out
deposit quotations in the trade system of KASE in a test mode. It could be
noted that at present the system works well.
The participants will regularly quote deposits in tenge: 1 week term
(instrument code KZT007D), 2 weeks (KZT014D), 1 month (KZT030D), 2
months (KZT060D) and 3 months (KZT090D). The Exchange plans to
create three indicators for each deposit:
- KIBOR - average of offering rates;
- KIBID - average of bid rates;
- KIMEAN - average of bid and offering rates.
The process of putting out the quotations and the computation method of the
indicators are regulated by a new internal document of KASE "Interbank
deposit market indicator creation method".
(
http://www.kase.kz/GenInfo/NormBase/kibor.asp).
Information on indicators will be regularly published on web-site of KASE
(
http://www.kase.kz/) as KASE news of IRBIS financial markets informational
agency (
http://www.kase.kz/Market/KASENews/). After completion of
software development, indicators will be published on a title-page of KASE
site. Besides, the Exchange plans to open special web-page on the site
devoted to information on indicators. KASE also hopes for REUTERS regular
publication of the indicators.