TASHKENT, Uzbekistan, February 20. Uzbekistan's commercial banks will be able to buy securities at an auction starting today, Trend reports.
This will allow them to ensure their stable operation and redistribute funds between banks.
The Central Bank of Uzbekistan will introduce changes in the operational mechanisms of monetary policy and money market operations on February 20 this year. In this decision, the Central Bank relied on the experience of advanced foreign countries and international financial markets, which moved to an inflation-targeting regime.
In particular, weekly repo auctions will be introduced. They will be held on Mondays at 11:00 (GMT+5) and will serve to ensure the liquidity of commercial banks during the week.
The auctions will be held at a floating interest rate (minimum - prime rate) in the amount determined on the basis of the liquidity forecast of the banking system.
Meanwhile, Uzbek commercial banks' assets amounted to 652.1 trillion soums ($52.9 billion) as of January 1, 2024.
The data from the Central Bank of Uzbekistan shows that the real growth of assets totaled 12 percent year-on-year.
Banks' assets in foreign currency exceeded 291.7 trillion soums ($23.6 billion) by the end of 2023.
