/REPEAT/ FROM SEPTEMBER 23, 2020 KASE SUSPENDS CALCULATION OF INTER-BANK DEPOSIT MARKET INDICATOR KAZPRIME
23.09.20 09:22
/KASE, September 23, 2020, September 18, 2020 news repeat/ – Kazakhstan Stock
Exchange (KASE) announces that it is suspending the calculation and publication
on KASE'S website of the values of KazPrime – the indicator of Kazakhstan's
inter-bank deposit market.
The KazPrime indicator is an indicator of the value of money (Kazakh tenge) at
placement on deposits of the inter-bank market among banks of the best credit
quality in Kazakhstan.
The KazPrime indicator was put into effect on March 27, 2007 on the basis of the
Agreement on the formation of the KazPrime indicator (hereinafter – the
Agreement), which was signed on March 20, 2007 by KASE and commercial
banks operating in the Republic of Kazakhstan in accordance with the laws of the
Republic of Kazakhstan (hereinafter – Participants). According to the Agreement,
the Participants put their quotes (rates) in KASE's trading system for placing
and attracting their interbank deposit. The number of Parties to the Agreement
must be at least four and no more than ten. Said Agreement is valid as long as
at least four Participants participate in it.
At the time the KazPrime indicator was put into operation, six banks that signed
the Agreement participated in its formation. Currently, the number of
Participants has decreased to four.
The suspension of the calculation and publication of the KazPrime indicator on
KASE's website is due to the fact that on September 11, 2020, KASE received an
application from one of the Participants, whereby he notified KASE of his exit
from the Agreement from September 23, 2020.
Thus, the number of Parties to the Agreement has decreased to three, which
makes its further calculation contravening the terms of the Agreement.
In the near future, KASE will conduct a set of measures aimed at joining of the
Agreement by new participants and at restoring the formation of the KazPrime
indicator.
[2020-09-23]