Repo at KASE - KZT8,994.8m

/IRBIS, Apr 16, 02/ - On April 16, at Kazakhstan Stock Exchange (KASE) 57 deals were made at the repo floors (including automatic repo sector) amounting to KZT8,994.8m. 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 7.50 7.41 7.70 3,643.1 19 Open* 2 7.00 7.20 7.07 7.33 250.0 3 Open 3 4.50 4.50 4.50 4.60 55.0 1 Open* 7 7.40 7.50 7.48 7.76 150.0 3 Open* 14 6.30 6.50 6.49 6.70 90.0 3 --------- -------- ---- ---- ------- --------- ------- -------- Subtotal: 4,188.1 29 --------- -------- ---- ---- ------- --------- ------- -------- Close 1 3.99 7.50 6.76 7.00 3,070.0 18 Close 7 5.00 6.00 5.59 5.74 230.2 4 Close 28 6.50 6.50 6.50 6.70 100.5 1 Close 43 5.05 5.05 5.05 5.16 120.7 1 Close 56 6.01 6.01 6.01 6.17 1,285.3 4 --------- -------- ---- ---- ------- --------- ------- -------- Subtotal: 4,806.7 28 --------- -------- ---- ---- ------- --------- ------- -------- TOTAL: 8,994.8 57 ---------------------------------------------------------------------- By counter trade method (in automatic repo sector) a volume of 45 deals has amounted to KZT7,126.2m, including 25 (KZT3,865.0m) repo opening deals and 20 (KZT3,261.2m) repo closing deals. Indicator TONIA according to trades' results has been fixed at the level of 7.47% APR and grew relative to previous trade day by 0.68. 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 ---------- ----------- -------------- ----- 1 7.41 6.71 +0.70 7 7.48 6.33 +1.15 14 6.49 6.33 +0.16 ---------------------------------------------- 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). National Bank increased its position in autorepo market by 55.8%. At that it was working only with STB using "overnight" repo and repo for 7 days. Pension market subjects: -+71.6% (KZT715.0m), 9 participants. Second tier banks (STB): - +KZT4,128.1m (borrowing, 5 banks), -KZT268.1m (lending, 1 bank); - in direct deals - +KZT55.0m, in open counter trade sector (auto repo) +KZT3,805.0m; - resulting balance +KZT3,860.0m (on previous day it was equal to +KZT4,355.0m). In banking sector there is still a lack of short-term liquidity. The main volume of money was lent by one bank, which was today the most active seller of dollar at KASE. Therefore, stability of tenge rate to dollar was mainly conditioned by this factor. Being noticed growth of repo rates was caused by the same factor. It can be supposed that the mentioned factor is a local and its impact on the market will stop soon. It's worth mentioning that unusually high activity at the exchange market of corporate bonds today (deals volume reached 9.2m dollars) IRBIS specialists are prone to explain by a need of the abovementioned bank in the short money. [2002-04-16]