The National Bank of the Kyrgyz Republic introduced overnight deposits on Feb. 17.
The new instrument of monetary policy allows the commercial bank to deposit funds in the NBKR at a particular interest rate for one night.
The committee on monetary regulation of the National Bank of the Kyrgyz Republic set the overnight deposit rate at 1 percent as of Feb. 13.
The new instrument is expected to help strengthen the interest rate transmission channel of the monetary policy, which is geared toward achieving and supporting stability of prices.
The instrument will allow commercial banks to revise the interest rate policy on their demand deposits. They can also revise interest rates on current accounts for clients and allows banks to further increase the inflow of funds into the banking system by decreasing the use of cash.
The National Bank of the Kyrgyz Republic determines the monetary policy of the Kyrgyz Republic. It also exercises regulation and supervision over banks and financial institutions. It develops and conducts the uniform currency policy and also has sole responsibility over the issue of banknotes. The bank also promotes effective functioning of the payment system and establishes rules of conducting banking operations, accounting and reporting for the banking system.
- ARDSHININVESTMENTBANK - ARMENIA: Ardshinbank continues to offer tools for reconstruction and refinancing of problematic loan commitments
- ANELIK BANK - ARMENIA: The results of the draw have been summed up at IDBank's Vanadzor branch
- THE BLACK SEA TRADE AND DEVELOPMENT BANK: BSTDB Acts as Anchor Investor in the First Corporate Bond Issue in Moldova
- GOVERNMENT OF ARMENIA: Deputy Prime Minister Tigran Avinyan Received the US Ambassador
- THE WORLD BANK: Urgent Structural Reforms Can Revive Pakistan’s Economic Growth
- TBC BANK - GEORGIA: TBC Bank's GEL 103 mln Loan Funded by FMO Won Best Local Currency Loan Award in CEE
- EUROPEAN INVESTMENT BANK: EIB to help protect 1,400km roads in rural Lao PDR from climate change
- CENTRAL BANK OF UZBEKISTAN: Republicanization of the Balance of the Republic of Uzbekistan, the position of investment position and the debts of debt
- THE BLACK SEA TRADE AND DEVELOPMENT BANK: New BSTDB Secretary General Assumes Duties
- AG BANK: 30% discount on "Royal Gallery Home Collection" stores with AGBank's cards!