BAKU, Azerbaijan, October 3. The volume of interbank unsecured transactions through a special platform within the Bloomberg trading system in Azerbaijan reached 679 million manat ($399.4 million) in September 2022, Trend reports citing Central Bank of Azerbaijan (CBA).
"A total of 59 transactions in the amount of 679 million manat ($399.4 million) were carried out between banks within the framework of this platform in September. Some 97 percent of the deals were short-term (one to three days). A total of 21 deals for 48 million manat ($28.2 million) were concluded at the interbank repo market in September, of which 52 percent were for five to nine days," the CBA said.
The CBA notes that it will start placing short-term notes for one, two, six and nine months and, if necessary, repo and reverse repo transactions for seven days from October 3 in accordance with the schedule. According to the schedule, there will be four auctions per week in connection with the notes, the volume of supply, at which will depend on the situation on the money market and the liquidity position of the banking system.
The Central Bank launched in a new configuration of monetary policy instruments since September 22, including a special platform for unsecured transactions within Bloomberg trading systems.