Turnovers on the money market in the week of 18 - 22 July 2011

In the week of 18 - 22 July 2011 a regular survey was conducted on the daily average turnovers on the money market. This survey is carried out by the Czech National Bank regularly four times a year – always in January, April, July and October.

As compared to April 2011 figures the daily average turnover of deposit operations slightly decreased from CZK 57.2 bln. to CZK 56.2 bln., which was driven mainly by decrease in trades with the maturity up to one week (except O/N maturity).

The most significant among deposit operations were those with the maturity up to 1 week (93.7 percent), in particular O/N operations comprising 80.5 percent share of the total turnover. The turnover of repo operations went down and their share on the total turnover decreased from 4.1 to 2.8 percent.

The turnover of derivative transactions IRS (Interest Rate Swap) and FRAs (Forward Rate Agreement) grew compared to the last survey. The volume traded on IRS increased by 83 percent when the most trades (84 percent) were traded with nonresidents. The volume of the turnover on FRAs were CZK 2,8 bln. (in the last survey the FRA were not reported at all).