CBA attracts $700M from deposit auctions in 2018

Baku. 15 February. REPORT.AZ/ In 2018, the Central Bank of Azerbaijan (CBA) held 53 deposit auctions on attracting of funds in national currency, 50 auctions on notes placement, Report informs citing CBA.

The funds were attracted for 14 days, notes for 28 days. As at the end of the reporting period, the remaining of funds attracted through auctions and notes placement amounted to AZN 1.71 billion, up 8.2% in comparison to early 2018.

Of this, AZN 700 million were attracted through deposit auctions, AZN 1,008,000,000 through notes placement.

The demand exceeded the supply 2.7-fold in deposit auctions, 2.6-fold in notes placement: "This shows that excess liquidity in the banking system remains high."