Volume of overnight transactions makes AMD 750mln over five
stock-exchange business days
April 9, 2010 – 18:27 AMT 13:27 GMT
PanARMENIAN.Net –
Based on results of five stock-exchange business days, the volume of
overnights provided to (and, accordingly, received by)
banks-participants of the auctions totaled AMD750mln, the weighted
average interest rate made 6.2% per year, CEO of NASDAQ OMX Armenia
Armen Melikyan told a PanARMENIAN.Net correspondent.
`Taking into consideration the fact that this instrument of
stock-exchange is aimed at securing not only the transparency of the
process of establishment of interest rates for overnight credits, but
also at assisting banks in more efficient administration of financial
resources, the stock exchange expects further increase in the volume
of transactions at this platform,’ noted he.
The CEO added that the stock-exchange commissions for transactions at
the credit market are set at the minimum level not to affect the cost
of credit resources.
Financial Director of HSBC Bank Armenia Gevorg Tarumyan reported that
the bank is in process of signing an agreement on this instrument
usage. `We plan to sign an agreement with NASDAQ OMX Armenia next
week,’ noted he.
Mr. Tarumyan also noted that this instrument will allow decreasing the
inter-bank interest rates during a short period of time.
The platform for inter-bank overnight credits was launched by NASDAQ
OMX Armenia stock-exchange on April 2, 2010.