NBM Recommences Providing Monetary Market with Liquidity
OREANDA-NEWS. March 15, 2012. Open market operations will be intensified, NBM informs. Besides certificates placement operations, liquidity will be injected into the banking system. According to NBM, liquidity of the banking system of Moldova is sufficient now, with the excessive liquidity being about 4 bln. leis.
At the same time, taking into consideration slow rates of the domestic demand and changes in the dynamics of the global economy activity, the National Bank of Moldova has resolved to carry out operations to provide the market with liquidity within 2 year by REPO operations at a flat rate fro 28 days during which NBM will buy state securities from banks which have to but them back in a certain period of time and at a price established in the moment of the deal.
The National bank has announced that the operations will be transparent and carried out via auctions every week. Providing liquidity is expected to raise the trust to the financial system and to be an additional support for banks in their liquidity administration, which will improve conditions banks lend to the economy on.
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