Reference banks to reduce Sk standard listed volume

In January, eight reference banks (ING, IRB, Istrobanka, Tatra Banka, VÚB, Poľnobanka, ČSOB, and SLSP) decided to take matter into their own hands with the fluctuating interbank interest rates by reducing the standard listed volume of Sk deposits (with a maturity of two or three months) from 100 to 50 million Sk. For deposits with a maturity of four, five, or six months, the reduction was from 50 to 25 million Sk. "Most of the banks consider that the interest rates' instability so far has not been overcome," said Vladimír Kubrický from Istrobanka after a meeting on February 18 of the eight reference banks. "Thus, we agreed to stick to the reduced volumes."