The State Financial Holding placed 100 million KGS at a deposit auction on the KSE

Following the results of the auction for placing funds in commercial bank deposits, held on February 13 on the Kyrgyz Stock Exchange, 100 million KGS were placed. The funds were raised for a term of 36 months.

The weighted average interest rate at the end of trading was 13.3% per annum, with a maximum rate of 13.5%. The starting rate of the auction was set at 13%.

The funds placed belonged to the State Financial Holding, which announced the auction among state and commercial banks. As a result, the placement took place in the form of competitive bidding.

Thus, the State Holding used a market mechanism to manage free liquidity.

It should be noted that the practice of deposit auctions in Kyrgyzstan was launched by the Ministry of Finance last fall on the Kyrgyz Stock Exchange platform. At that time, the Ministry of Finance placed funds from the mitigation account in commercial banks through an auction mechanism for the first time in the country's history. The total amount placed was 24 billion KGS, of which 20.3 billion KGS were distributed at market rates.

Later, the Russian-Kyrgyz Development Fund (RKDF) joined the mechanism, announcing the availability of 100 million KGS.