OREANDA-NEWS. On 26 August 2009 was announced, that the NBU adopted the Resolution #415, which set the minimal interest rates on its secured and unsecured overnight loans. In particular, the interest rate on unsecured overnight loans of the NBU will be not less than the discount rate of the NBU (10.25%) plus 5 basis points. At the same time, the interest rate on secured NBU overnight loans should exceed 10.25% plus 3 basis points.

We consider that the NBU Resolution will increase the possibility of the commercial banks to be refinanced by the NBU, thus raising their instant liquidity. Meanwhile, previously the interest rates on secured and unsecured overnight loans stood at 15.5% and 17.0%, respectively.

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