National Bank of Kazakhstan has characterized the Republic's GS market in September of 2002

/IRBIS, October 9, 02/ - National Bank of Kazakhstan, in its press-release, which was devoted to the current market situation, has briefly characterized Government securities market in September of 2002. In particular it is informed that issue volume of securities of the Ministry of finance of Kazakhstan in this month increased in comparison with August of 2002 3.0 times as much to KZT6.8bn. This caused increase of them in circulation by 6.4% to KZT103.9bn. During September short-term 12-month МЕККАМ and mid-term 3-year and 4-year МЕОКАМ were issued. In September there was decrease of yield on all types of securities. Thus, yield on 12-month МЕККАМ fell from 6.92% APR (on last auction, which was held on June 03 of 2002) to 6.90% APR, on 3-year МЕОКАМ - from 8.47% to 8.35%, on 4-year summer МЕОКАМ there was the most significant decrease - from 8.52% to 8.16% APR. Issue volume of National Bank's notes increased in comparison with August by 19.5% to KZT19.6bn, whereas there took place yield decrease on them from 5.94% APR to 5.75% APR. Volume of notes in circulation increased to KZT41.4bn (by 20.3%). In comparison with August volume of direct repo deals, which had been made by the National Bank in September, rose 3.0 times to KZT86.3. Reverse repo transactions were not conducted during September. [2002-10-09]