CBA gets AZN 17.5B from deposit auctions and note placement

Baku. 26 November. REPORT.AZ/ In January-September 2018, the Central Bank of Azerbaijan (CBA) held 41 deposit auctions on raising funds in national currency and 37 auctions on note placements.

Report informs citing CBA that the funds were raised through deposit operations within 14 days, notes were placed for 28 days.

Total remainder of the funds raised through deposit auctions and note placement made up AZN 1.75 billion: "Of this, AZN 700 million was raised through deposit auctions, AZN 1,050,000,000 through note placement. Remainder of the funds raised through deposit auctions and note placement dropped by 9.7% compared to early 2018. Despite the fact that the reduction in lower limit of the corridor led to decline in profitability on sterilization operations, the supply exceeded the demand by 2.6-fold in deposit auctions, 2.4-fold in note placement. This shows that excess liquidity in the banking system is high."