Financial markets

This section contains information about the foreign exchange market, the money market and the Treasury securities market, including regulations relating to the financial market in the Czech Republic. The “Foreign exchange market” subsection gives information, for example, on foreign exchange market rates and exchange rates of other currencies, on foreign exchange transactions and on the volume and structure of the CNB’s international reserves. The “Money market” subsection provides information on interest rates announced by the CNB, money market turnovers and current banking sector liquidity and CNB open market operations. The “Treasury securities market” subsection contains an issuance calendar as well as the results of auctions of short-, medium- and long-term bonds, lists of participants and issues, and auction rules. Data starting from 1999 can be found in the “ Financial market inflation expectations” subsection.

In accordance with Act No. 6/1993 Coll., on the Czech National Bank (pdf, 150 kB), the Czech National Bank is authorised to keep a record of the securities issued by the Czech Republic and maturing within one year, a record of the securities issued by the Czech National Bank and a record of bonds maturing within one year, and is authorised to operate a settlement system for these investment instruments. These activities are performed via the short-term bond system (SKD). The SKD - Short-Term Bond System subsection contains relevant regulations, general information relating to the system, a brief description of SKD activities, and SKD statistics.

Technical parameters of the extraordinary interbank market support operations

The Bank Board of the Czech National Bank leaves the two-week liquidity-providing repo operations in place with no time restriction. The foreign exchange swaps that are used to provide koruna liquidity against the euro are also unchanged. The CNB has the option to adjust the parameters further in response to market developments.

Technical parameters:

Two-week liquidity-providing repo operations
Frequency of repo operation: once a week (Monday)
Banks’ bids satisfied at fixed rate: 2W repo rate + 10 b.p.

Note: The remaining parameters of liquidity-providing repo operations remain unchanged.

Foreign exchange swaps
Maximum maturity: two weeks
Haircut applied: 5%

Note: Foreign exchange swaps are conducted on the basis of a bank's request for the provision of koruna liquidity against the euro. For the purposes of the swap, the exchange rate is lowered by 5% to eliminate exchange rate risk. The other parameters (e.g. delivery after delivery settlement) remain unchanged.