Turnovers on the Money Market: 7–11 April 2003

The Czech National Bank surveys the average daily turnovers on the money market twice a year - in April and in October.

The results of the most recent survey, conducted in the week of 7-11 April 2003, suggest in particular a halt in the decline in total turnover on the money markets. In April 2002 the total turnover had been 25.4% down from the previous period, and in October 2002 it had been a further 7.5% lower, at CZK 44.889 billion. In the latest survey, the average turnover was a comparable CZK 44.856 billion.

The biggest decrease relative to October 2002 (from CZK 498 million to CZK 149 million) was registered by repos. Conversely, deposits with maturities of over three months showed sharp growth (rising by 33.3%, from CZK 1.005 billion to CZK 1.340 billion). Transactions with non-residents recorded an increase, whereas transactions with residents declined.

The survey also reveals that bank do not use repos with maturities of over three months.

Alice Frišaufová
CNB spokesperson