NBB to provide liquidity to banks through auctions only till Sep 15, 2020
<p> MINSK, Aug 24 - PrimePress. The National Bank of Belarus (NBB) has temporarily suspended the constantly available operations to support the liquidity of banks from August 24 to September 15, 2020. Liquidity will be only provided through auctions, the National Bank said on 24 August. </p> <p> </p> <p> “Recently, there has been a significant increase in the banks’ loan portfolio in Belarusian rubles against the backdrop of the growing liquidity deficit in the banking system, which puts additional pressure on the domestic foreign exchange market,” reads the report. </p> <p> </p> <p> In order to reduce the pressure on the foreign exchange market, the National Bank will continue providing liquidity support to the banking system through open market auctions only. The NBB also expects that bilateral operations to support liquidity will take place between banks on the open market with account of measures taken to reduce its deficit. </p> <p> </p> <p> According to banki24.by, Belarusian banks began to experience a liquidity shortage due to the withdrawal of funds by their clients. The outflow of client funds intensified after the August 9 presidential election in Belarus, which caused the largest political crisis in the country in its recent history. End </p> <p> </p>
2020-08-25
Primepress
NBB to provide liquidity to banks through auctions only till Sep 15, 2020
MINSK, Aug 24 - PrimePress. The National Bank of Belarus (NBB) has temporarily suspended the constantly available operations to support the liquidity of banks from August 24 to September 15, 2020. Liquidity will be only provided through auctions, the National Bank said on 24 August.
“Recently, there has been a significant increase in the banks’ loan portfolio in Belarusian rubles against the backdrop of the growing liquidity deficit in the banking system, which puts additional pressure on the domestic foreign exchange market,” reads the report.
In order to reduce the pressure on the foreign exchange market, the National Bank will continue providing liquidity support to the banking system through open market auctions only. The NBB also expects that bilateral operations to support liquidity will take place between banks on the open market with account of measures taken to reduce its deficit.
According to banki24.by, Belarusian banks began to experience a liquidity shortage due to the withdrawal of funds by their clients. The outflow of client funds intensified after the August 9 presidential election in Belarus, which caused the largest political crisis in the country in its recent history. End