Rus News Journal

Results of the auctions short money

Bankers have shown interest to the new monetary market

Yesterday on Russian international currency - to stock exchange during session
board of directors have been summed up trade short money for 1 - j
quarter 1993 more than once wrote about occurrence in structure Russian
the monetary market of new sector - trade short-term interbank
credits. As show the figures resulted during yesterday`s council
of directors, the new kind of operations in the financial market has taken place - for first three
month of regular trade short money the total amount of operations has exceeded
1 mlrd rbl.

Trade in short-term interbank credits has been organised at
active participation Russian international currency - stock exchange and
the Cash union, and last has represented itself as a financial settlements centre for
banks - participants of trade short money . Experts are inclined
to assume, what exactly the adjusted system of calculations day - in - day has allowed
to realise the project of creation of the market of short-term interbank credits.
that this market has taken place, the figures resulted
by analytical department of a stock exchange testify. In March volume of operations in the market short money
has doubled in comparison with February, the total amount of operations for 1 - j quarter 1993
(as of March, 23rd) has made 1,1 mlrd rbl. Number of banks - participants
trade short money has exceeded two ten. Among the most active
participants of new sector of the monetary market - banks Eurospace
the Credit - Moscow Capital Tepkobank, the Moscow branch AvtoVaZbanka.
Experts notice that dynamics of the interest rate following the results of the auctions
short money sensitively enough reflects a situation on Russian
the monetary market. So, in March the interest rate named on accepted in world
of terminology MIBOR (Moscow Interbank Offered Rate), on 14 - tidnevnym to credits
to the middle of month has risen to 121 % annual (or on 5 percentage points above
than on the beginning of February), however by the end of month has considerably decreased and in the middle
the third decade varied in steady limits 115 - 118 % annual.

SERGEY - ASPIN