NBKR Notes  

(February 2007) 

In February there was lessening of demand at the primary market of the NBKR notes: out of eight announced auctions six auctions were not held due to the insufficient number of participants. Meanwhile the lessening of demand was noted in the segment of the 28-day notes while the demand slightly increased in the segment of the 14-day notes. At the two auctions on the placement of the 14-day notes that were held in the first and third week of February their average weighted yield decreased by 0.2 percentage points to 3.3 per cent.  

The average weekly demand volume for the NBKR notes reduced by 35.2 per cent and amounted to Som 39.7 million, and the volume of the notes sales was Som 16.0 million on the average per week having reduced by 33.3 per cent.  

The volume of outstanding NBKR notes declined by 50.0 per cent to Som 16.0 million as of end of the reporting period. Meanwhile the number of holders of the NBKR notes reduced from 6 to 2 banks, and the banking portfolio concentration index of the NBKR notes increased from 0.25 to 0.51 in February that is equivalent to the presence of 2 participants with the equal shares at the market and indicates the high concentration level.