Mar 2, 2018 - Banks closed with an eleven-day average position of UGX 90.07 billion long .... G. DAILY SECONDARY MARKET
MONEY MARKET REPORT FOR FRIDAY 02 MARCH 2018 DOMESTIC MONEY MARKET LIQUIDITY POSITION Banks closed with an eleven-day average position of UGX 90.07 billion long Liquidity forecast position for March 05, 2018 ( Billions of Ugx) Expected Opening Excess Reserve position *Projected Injections *Projected Withdrawals Expected Closing Excess Reserve position before Policy Action
(1.15) 42.42 (24.36) 16.91
Outturn for March 02, 2018 Opening Position Total Injections Total Withdrawals Closing position
43.59 32.80 (77.54) (1.15)
*The current day projections may deviate on account of changes in autonomous factors such as Government cash flows mainly EFTs and taxes; other autonomous factors such as commercial bank cash deposits, fees, funds' transfers, instructions may deviate the projected balances. This therefore changes the Expected Closing Excess Reserve position. A summary of the outturn of the day giving actual inflows and withdrawals and closing position shall be given the following day.
Ai. WEIGHTED AVERAGE INTERBANK RATES (%) WED THUR FRI TENOR 21-FEB-18 22-FEB-18 23-FEB-18
CURRENT CBR EFFECTIVE 13th FEBRUARY 2018 is 9.00% MON 26-FEB-18
TUE 27-FEB-18
WED 28-FEB-18
THUR 01-MAR-18
FRI 02-MAR-18
9.00 7.45 9.43
9.00* 6.23 9.40
9.10 7.94 9.48
9.10 6.84 9.48
7 DAYS O/N 7 DAYS (IND)
9.15* 8.08 9.50
9.30 7.74 9.55
9.30* 7.75 9.54
9.28 8.66 9.53
7 DAYS O/N
9.59
10.78 9.67
9.88
9.49
*=No executed 7-Day trades on the day. WAR carried forward from previous day. Bi.
DAILY INTERBANK MONEY MARKET TRANSACTIONS (Excl. REPO Transactions) By Time, by Rate, by Tenor, by Funds in BN & from source to destination TIME
RATE (%)
TR
AMT (BN)
9:53 AM 9:55 AM 9:57 AM 9:57 AM 10:18 AM 10:46 AM 11:03 AM 1:06 PM
9.10 7.00 8.50 8.00 7.50 8.50 8.50 6.50 a.
7 1 1 1 1 1 1 1
5.00 3.00 5.00 5.00 5.00 2.00 3.00 5.00
FROM
TO
TIME
RATE (%)
TR
AMT (BN)
1:42 PM 1:45 PM 2:01 PM 2:39 PM 2:39 PM 3:33 PM 3:13 PM 3:47 PM
6.50 6.50 5.75 8.00 8.00 7.50 6.00 6.00
1 1 1 1 1 1 1 1 T/T
5.00 5.00 15.00 5.00 5.00 10.00 20.00 7.00 105.00
VALUE DATE
Ci. SECURITY COUPON/ MAT DATE
DR
02-MAR
0.000% 10-MAY-2018
9.332
9.500
9.873
5,200,000
5,108,261
02-MAR
0.000% 24-MAY-2018
8.241
8.398
8.675
250,000,000
245,315,000
02-MAR
0.000% 14-FEB-2019
8.540
9.300
9.318
1,000,000,000
918,340,000
02-MAR 02-MAR 02-MAR 02-MAR 02-MAR 02-MAR 02-MAR 02-MAR
0.000% 14-FEB-2019 0.000% 28-FEB-2019 0.000% 28-FEB-2019 0.000% 28-FEB-2019 0.000% 28-FEB-2019 0.000% 28-FEB-2019 0.000% 28-FEB-2019 13.750% 11-JUL-2019
8.709 8.638 8.596 8.596 8.680 8.646 8.286
9.500 9.450 9.400 9.400 9.500 9.460 9.031
5,000,000,000 1,200,000,000 1,120,000,000 80,000,000 4,600,000,000 180,000,000 709,000,000 4,000,000,000
4,583,650,000 1,096,908,000 1,024,251,200 73,160,800 4,202,928,000 164,521,800 650,571,310 4,271,320,000
02-MAR
11.000% 23-JAN-2020
9.519 9.453 9.402 9.402 9.502 9.462 9.033 9.800 10.950
1,500,000,000
1,517,235,000
02-MAR 02-MAR
11.000% 23-JAN-2020 16.750% 28-OCT-2021
10.250 11.451
200,000,000 200,000,000
204,666,000 241,990,000
1|Page
FROM
DAILY SECONDARY MARKET TRADES OF GOVERNMENT SECURITIES MMY YTM AMOUNT AMOUNT SELLER (%p.a) (FV) (COST)
TO
BUYER
02-MAR 02-MAR 02-MAR 02-MAR 02-MAR 02-MAR 02-MAR 02-MAR
15.375% 13-MAY-2022 15.375% 13-MAY-2022 14.125% 07-JUL-2022 12.500% 28-NOV-2022 12.500% 28-NOV-2022 12.500% 28-NOV-2022 12.500% 28-NOV-2022 16.000% 06-MAY-2027
13.650 12.650 12.500 12.550 12.550 12.450 12.450 13.269 TOTAL M/Total
4,000,000,000 2,000,000,000 3,000,000,000 1,500,000,000 2,000,000,000 5,000,000,000 5,000,000,000 80,000,000 42,624,200,000 86,866,500,000
4,522,720,000 2,261,360,000 3,217,140,000 1,541,990,219 2,055,986,958 5,157,500,000 5,157,500,000 95,099,200
D.
MONETARY POLICY OPERATIONS & TREASURY SECURITIES MATURITIES PROFILE:(9 MAR 2018 – 29 MAR 2018) FRI THUR THUR TUE THUR TOTALS 9 MAR 2018 15 MAR 2018 22 MAR 2018 27 MAR 2018 29 MAR 2018 REPO 445,376,821,918 0 0 0 0 445,376,821,918 DEPO AUCT 368,216,410,685 53,376,588,493 732,136,444,383 0 168,337,954,521 1,322,067,398,082 T-BILL 9,959,729,617 146,872,470,118 9,960,526,396 0 142,555,713,541 309,348,439,672 T-BOND 0 0 223,912,765,944 0 0 223,912,765,944 COUPON 89,667,500,513 0 62,627,613,838 14,782,834,375 0 167,077,948,726 TOTALS 913,220,462,733 200,249,058,611 1,028,637,350,561 14,782,834,375 310,893,668,062 2,467,783,374,342 Total O/S Deposit Auction Amount up to 26 April 2018: UGX 1,890,500,000,000 Total O/S of Repo & Deposit Auction Amount : UGX 2,335,000,000,000 NB- O/S – outstanding
F. POLICY RATES CBR Rediscount Rate Bank Rate Margin for RR Margin for BR CBR Band Upper band Lower band
BBUG CRDU DFCU SCBU STBB RODA Av. Bid Av. Ask Av YTM BestBid BestAsk
2
FEB 2017 11.50
APR 2017 11.00
JUN 2017 10.00
AUG 2017 10.00
DEC 2017 9.50
FEB 2018 9.00
CURRENT CBR FEB 2018 9.00
15.50
15.00
14.00
14.00
13.50
13.00
13.00
16.50
16.00
15.00
15.00
14.50
14.00
14.00
4.0 5.0 +/-3% 14.50 8.50
4.0 5.0 +/-3% 14.00 8.00
4.0 5.0 +/-3% 13.00 7.00
4.0 5.0 +/-3% 13.00 7.00
4.00 5.00 +/-3% 12.50 6.50
4.00 5.00 +/-3% 12.00 6.00
4.00 5.00 +/-3% 12.00 6.00
G. DAILY SECONDARY MARKET QUOTES (Based on-the–run TREASURY SECURITIES –End of Day Quotes) T-BILLS TBONDS 91 DR 182 DR 364 DR 2YR YTM 3YR YTM 5YR YTM 10YR YTM 15YR YTM 0.000% 0.000% 0.000% 11.000% 18.375% 14.125% 14.125% 14.375% 31-MAY-2018 30-AUG-2018 28-FEB-2019 23-JAN-20 18-FEB-2021 07-JUL-22 13-JAN-28 03-FEB-2033 BID/ASK BID/ASK BID/ASK BID/ASK BID/ASK BID/ASK BID/ASK BID/ASK 8.25 8.15 8.30 8.20 8.60 8.50 11.00 10.90 11.30 11.20 12.60 12.50 14.00 13.90 14.45 14.35 8.30 8.20 8.50 8.40 8.80 8.70 11.00 10.90 11.30 11.20 12.60 12.50 14.10 14.00 14.40 14.30 8.35 8.25 8.40 8.30 8.70 8.60 11.20 11.10 11.30 11.20 12.50 12.40 14.10 14.00 14.50 14.40 8.30 8.20 8.40 8.30 8.65 8.55 11.00 10.90 11.20 11.10 12.50 12.40 14.00 13.90 14.40 14.30 8.25 8.35 8.30 8.40 8.60 8.70 11.00 11.10 11.20 11.30 12.50 12.60 14.00 14.10 14.40 14.50 8.25 8.15 8.35 8.25 8.50 8.40 11.00 10.90 11.25 11.15 12.55 12.45 14.00 13.90 14.40 14.30 8.283 8.375 8.642 11.033 11.258 12.542 14.033 14.425 8.217 8.308 8.575 10.967 11.192 12.475 13.967 14.358 8.423 8.704 9.417 11.000 11.225 12.508 14.000 14.392 8.25 8.30 8.50 11.00 11.20 12.50 14.00 14.40 8.35 8.40 8.70 11.10 11.30 12.60 14.10 14.50
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STOCK OF TREASURY SECURITIES
On-the-run T-BILLS T-BILL AUC: 0.000% 0.000% 0.000%
LAST TBIILS ISSUE DATE: 01-MAR-2018 MAT. DATE O/S T-BILL STOCKs 31-05-18 91D 55.24 BN 30-08-18 182D 215.00 BN 28-02-19 364D 3,127.00 BN 3397.240 (01-MAR-2018) On-the-run T-BONDS Coupon*No.Reopen MAT. DATE O/S T-BONDSTOCKs 11.000%*3 23-01-20 2 YR 343.914 BN 18.375%*2 18-02-21 3 YR 888.537 BN 14.125%*1 07-07-22 5 YR 3,782.903 BN 14.125% 13-01-28 10YR 2,761.874 BN 14.375% 03-02-33 15YR 1,513,.364 BN 9,290.592 (01-MAR-2018) TOTAL TBILL & TBOND STOCK- UGX 12,687.832 BN * = no. of RE-OPENINGS O/S=Outstanding
3
MAT
WA DR
Chge in WA DR (%)
91 182 364 2YR 3YR 5YR 10YR 15YR
8.235 8.373 8.632
-0.008 0.026 0.090
YTM (%) Range
YTM (%) AT WAP
Chge in YTM (%)
8.676 8.929 9.435 11.049 11.263 12.572 14.044 14.432
0.009 0.030 0.108 0.138 0.046 -0.129 -0.498 0.089
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MONETARY POLICY MARKET OPERATIONS (VERTICAL REPOS, REV-REPOS & DEPOSIT AUCTIONS)
OMO REPO DAUT DAUT RREPO REPO DAUT DAUT REPO DAUT DAUT REPO REPO REPO DAUT DAUT REPO DAUT DAUT REPO DAUT DAUT REPO
DATE 25-JAN 25-JAN 25-JAN 29-JAN 01-FEB 01-FEB 01-FEB 08-FEB 08-FEB 08-FEB 12-FEB 14-FEB 15-FEB 15-FEB 15-FEB 22-FEB 22-FEB 22-FEB 26-FEB 01-MAR 01-MAR 01-MAR
AMT (153.0) (70.25) (687.5) 271.0 (186.0) (43.25) (81.50) (370.0) (47.00) (81.00) (141.0) (233.0) (380.0) (53.00) (177.00) (170.0) (34.00) (118.00) (231.50) (85.00) (229.50) (444.50)
WAR 9.500 9.750 9.854 9.500 9.500 9.750 9.864 9.500 9.734 9.853 9.500 9.000 9.000 9.263 9.367 9.000 9.287 9.392 9.000 9.272 9.389 9.000
RANGE
TENOR 7.0 28.0 56.0 3.0 7.0 28.0 56.0 7.0 29.0 56.0 3.0 1.0 7.0 29.0 56.0 7.0 29.0 56.0 3.0 28.0 56.0 8.0
