October 10, 2016 / 8:46 AM / 9 months ago

Croatia banks roll over funds at cenbank weekly repo auction

2 Min Read

ZAGREB, Oct 10 (Reuters) - Demand and interest rate remained
unchanged at Croatia's reverse weekly repo auction on Monday,
the central bank said.
    The central bank said it had accepted all bids worth 540
million kuna ($80.63 million), flat from last week, at an
interest rate of 0.3 percent.
    Market participants said they expected the short-term
liquidity to improve and demand for the kuna funds to subside in
the coming days following the beginning of a new period of
setting aside funds for mandatory reserves requirement.
    The overnight interbank rate was quoted at 0.70
percent on Friday and the one-week spot rate at 0.62
percent. The rates are updated daily at 0900 GMT.
    Together with the weekly auctions, the central bank also
holds four-year repo auctions roughly quarterly to boost
longer-term liquidity. One such auction is expected by the end
of the year.
    Here are the details of Monday's auction:
    
              Auction date                      Previous action
                10/10/16                           03/10/16
    
 Yield          0.3 pct                             0.3 pct
 Bids           540 mln HRK                        540 mln  
 Assigned       540 mln                            540 mln 

($1 = 6.6972 kuna)

 (Reporting by Igor Ilic; Editing by Angus MacSwan)

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