Cbank: Banks sell 62 bln rbl of OFZ federal bonds in September

MOSCOW, Oct 10 (PRIME) -- Russian banks acted as the largest sellers of the OFZ federal bonds on the secondary market by selling a total of 62 billion rubles of the bonds in September, the central bank said in a research note late on Monday.

The average daily trade in the OFZs on the secondary market grew to 25 billion rubles in September from 21.5 billion rubles in August, but systemically important banks reduced their sales to 36.8 billion rubles from 48 billion rubles and other banks to 16.8 billion rubles from 40.8 billion rubles. Subsidiaries of foreign banks also sold 8.4 billion rubles of the bonds in the month.

Individuals and non-credit financial institutions acted as the main buyers on the OFZ market with net purchases standing at 28.1 billion rubles and 25.8 billion rubles, respectively.

The amount of money raised by the Finance Ministry through OFZ auctions contracted to 90.3 billion rubles in September from 245.8 billion rubles in August, reaching 70% of the amount it planned to raise in July–September.

(101.3598 rubles – U.S. $1)

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