Turnovers on the money market in the week of 18-22 October 2004

In the week of 18-22 October 2004 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 twice a year with participation of all domestic banks dealing on the money market.

As compared with the results from October 2003 and April 2004 the daily average turnover declined to CZK 44.6 bln thus reaching the lowest figure since 1999. The most significant decline of 30 %, among all instruments, was seen in deposits traded with nonresidents with the maturity under 3 months.

On the contrary, volume of deposits under 3 months traded with residents rose by 20 %. Both these groups are the most significant on the money market and they comprise 97 % share of the total turnover. Other instruments are used rarely. In particular, volume of repo trades is still very low (CZK 44 mio.). Repos with nonresidents and repos with the maturity over 3 months are not traded at all.