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Refinancing remains at historical high in Azerbaijan

Refinancing remains at historical high in Azerbaijan

18 February 2009 14:34 (UTC +04:00)

Baku. Vahab Rzayev â€“ APA-Economics. Refinancing still remains at a historical high in Azerbaijan, said the National Bank of Azerbaijan.
The central bank said the volume of refinancing stood at AZN 229 million as at January 1, up 2.4 times on a year ago.

* year-end data

Refinancing transactions are carried out as part of the regulation of liquidity in banking system.
The national bank widely uses repo transactions as an instrument to regulate liquidity.
Repo is a one-day transaction while refinancing is medium-term one.
The increase in refinancing shows a decrease in liquidity of banks.
However, AZN 229 million is not so great amount.

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