National Bank of Kazakhstan has characterized the Republic's GS market as of June 1 of 2004

/IRBIS, Assel Omarova, June 11, 04/ - According to the data of the National Bank of Kazakhstan, which were given in its monthly press-release dedicated to the current situation at the financial market, issue volume of government securities (GS) of the Ministry of finance fell down in May 2.4 times to KZT7.8 bn., at that total volume of securities in circulation grew (by 1.8%) to KZT189.9 bn.. Volume of repayment (including interest payment) in May equaled to KZT5.7 bn. During May Ministry of Finance held auctions on 6- and 12-month MEKKAM, no middle term bonds were auctioned. Yield of 6-month MEKKAM bonds remained unchanged and equaled 4.95%, yields of 12-month bonds fell from 5.11% (April 12, 2004) to 5.06%. Issue volume of National Bank's notes decreased in May by 48.3% to KZT27.9 bn., whereas their yield fell from 5.04% to 5.00%. Volume of National Bank's notes repayment was about KZT18 bn., and their volume in circulation rose within the month by 3.6% to KZT305.3 bn. Volume of deals on National Bank's direct repo transactions fell in May by 16.1% to KZT55.8 bn (In January - 61.1 bn; In February - 59.4 bn, March - 71.0 bn). Reverse repo transactions were not held. [2004-06-11]