Repo at KASE - KZT8,669.6m

/IRBIS, Jan 23, 02/ - On January 23 at Kazakhstan Stock Exchange (KASE) 61 deals were made in the repo sector (including automatic repo sector) amounting to KZT8,669.6m. Results of trades are given in the following table. Repo opening transactions, which are made only through counter- trade method (at automatic repo floor), are marked with asterisk. -------------------------------------------------------------------------- Repo rate, % APR --------------------------- Type of Calendar Currency Weighted average Volume repo terms, of repo ----------------- of deals, Number deals days deals min max nominal effective KZT m of deals --------- -------- -------- ---- ---- ------- --------- --------- -------- Open 1 KZT 3.00 5.50 4.67 4.78 953.2 9 Open* 2 KZT 5.00 5.50 5.47 5.63 1,065.0 7 Open* 5 KZT 5.15 5.75 5.64 5.80 1,335.0 6 Open* 7 KZT 5.75 5.75 5.75 5.92 70.0 1 Open* 28 KZT 7.00 7.00 7.00 7.23 150.0 1 --------- -------- -------- ---- ---- ------- --------- --------- -------- Subtotal: 3,573.2 24 --------- -------- -------- ---- ---- ------- --------- --------- -------- Close 1 KZT 3.00 7.02 4.91 5.03 1,908.4 18 Close 2 KZT 4.10 5.50 5.35 5.50 2,885.9 17 Close 28 KZT 9.26 9.26 9.26 9.67 302.1 2 --------- -------- -------- ---- ---- ------- --------- --------- -------- Subtotal: 5,096.4 37 --------- -------- -------- ---- ---- ------- --------- --------- -------- TOTAL: 8,669.6 61 -------------------------------------------------------------------------- In the automatic repo sector the volume of 57 deals has amounted to KZT8,161.1, including 23 (KZT3,470.0m) repo opening deals and 34 (KZT4,691.1m) repo closing deals. Indicator TONIA according to trades results has been fixed at the level of 4.63% APR and increased by 0.15 relative to previous trade day. It becomes apparent that there is enough free money on the market even without making an analysis of the banks' positions in repo sector. The clsoing volume exceeded similar figure of opening repos, and the rates for most of the terms declined. And the banks shifted their focus from one day to 2 and 5 days. Relative to Tuesday number of second tier banks (STB) borrowing money in repo sector of KASE fell from five to four. Two banks were offering the funds as they did yesterday. Total volume of STB money attractions today based on opening transactions net-positions is estimated by IRBIS at KZT3,483.2m whereas volume of floatation didn't exceed KZT133.2m. Resulting balance of STB at the floor - KZT3,350.0m in favor of attraction - increased substantially in comparison to Tuesday (KZT1,565.0m) more than 2 times. According to IRBIS specialists, big borrowing volume was caused by closing of big repo as the cost of short money keeps falling. The banks are restructuring their debt by stretching it and making it cheap.