RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of August 9, 2013 No. 315

On regulation of the monetary market

Having analyzed dynamics of macroeconomic and monetary indicators in January - July, 2013, the Board of the National Bank of Ukraine notes preserving price stability in the state and continuation of positive tendencies in development of the monetary market.

The indicator of surplus of consumer price index in annual measurement in January - July, 2013 fluctuated ranging from "minus" % 0,8 (in March and April) to zero value (in July).

Such price dynamics promoted improvement of market expectations and strengthening of trust to national monetary unit of Ukraine. Confirmation of it, in particular, is steady domination of hryvnia as stores of value and improvements of urgent structure of deposits of banks.

So dynamics of deposits of the population in national currency in the current year was characterized by monthly surplus which for January - July constituted 25, %. At the same time foreign currency deposits increased only by % 1,0. As a result the indicator of dollarization of deposits for this period decreased with % 43,7 to % 39,6.

The specific weight of long-term deposits in their total amount for January - July, 2013 increased by 4,4 of percent point - to % 39,1.

Due to the expansion of resource base of banks their liquidity increased and the cost of borrowing facilities fell. So daily average I will eat around corresponding accounts of banks in the National Bank of Ukraine for January - July, 2013 constituted 25, 3 billion UAH in comparison with 19,6 of one billion last year.

The weighted average interest rate on domestic currency loans in July, 2013 decreased to % 15,7 with % 17,6 in December of last year, in the interbank credit market - to % 2,7 with % 8,1 respectively.

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