Volume of hryvnia cash down for first time since start of war - NBU Council head
The liquidity of the banking system (in the form of balances on correspondent accounts and in deposit certificates of the National Bank of Ukraine) is about UAH 190 billion, or 3.5 times more than the norm, which is enough to fulfill the payment orders of customers, Head of the NBU Council Bohdan Danylyshyn said.
"It is noteworthy that at the end of last week, the volume of hryvnia cash outside the banking sector decreased for the first time since the outbreak of hostilities, which indicates a decrease in the degree of anxiety of economic agents, he said on Facebook, without specifying indicators.
Danylyshyn pointed out that because of the war in February, the volume of hryvnia deposits in banks decreased by 3.2% in corporate and 2.6% in retail segments, and the decline occurred after the outbreak of hostilities.
According to him, deposits in foreign currency also decreased by 7.1% in corporations and 3.4% - individuals.
"Given that deposits are the main source of funding for banks, during the period of martial law in the structure of the resource base of banks, the share of loans from the National Bank will increase," the head of the NBU Council believes.
He clarified that since the beginning of the war on February 24, the National Bank, at tenders to maintain liquidity, has provided banks with loans in the amount of UAH 74.4 billion, of which UAH 65.5 billion for a year. This increased the total debt of solvent banks to the NBU on tender loans to UAH 136.6 billion.
At the same time, as indicated in the information of the National Bank, after March 11, the liquidity support tender was held only once. On it, four banks received UAH 3.03 billion for a year, five banks - UAH 1.02 billion for 28 days at a standard rate of 11% per annum.
At the same time, the demand for deposit certificates all these days was UAH 132.5-142.3 billion, and on March 21-22 it rose to UAH 149.4-152 billion. The number of banks investing at 9% in these securities has reached 52-53.
Earlier, on March 17, Danylyshyn announced that the outflow of hryvnia into non-bank cash circulation since the beginning of the war had exceeded UAH 35.5 billion.