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ECONOMIC BRIEFS

Central Bank lends financial sector 2.5 billion crowns

The National Bank of Slovakia (NBS) intervened on the money market with a refinancing repo tender April 26, lending the banking sector 1 billion crowns for two weeks at 9.26 % annual interest on average. The next day, National Bank of Slovakia (NBS) lent the banking sector an additional 1 billion SKK for two weeks at 9.01 percent p.a. on average. The minimum accepted bid amounted to 8.91 percent p.a. and the ceiling achieved 9.17 percent p.a. Bank bids in the repo tender totalled 1.57 billion crowns.

On April 28, an additional repo tender of 500 million crowns was lent. In the words of dealers, the central bank's intervention was to calm down the atmosphere before the end of the second April evaluation period and psychologically support an auction of government bonds. Prices of crown deposits did not react on the central banks' intervention.

In the April 27 auction of two-year government bonds the Finance Ministry accepted the volume, identical with bids of the banking sector, of 770 million crowns at a single interest yield of 15.8 percent annually.

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