|Rate, % per annum||6.50|
Quotations of Participants
|Halyk Savings Bank of Kazakhstan JSC||5.00||6.00|
|Eurasian Bank JSC||5.50||6.50|
|Bank CenterCredit JSC||5.50||6.50|
KazPrime indicator shows average rate of offering of money on the Kazakhstan inter-bank deposit market. The indicator is calculated by KASE daily before 12:00 ALT on the basis of quotes submitted from 10:00 a.m. through 11:30 a.m. ALT to the KASE trading system by members of the KazPrime indicator construction agreement. Trend shows a difference between the current value and that of the previous trading day.
The minimum quotation volume is KZT150 m. If corresponding orders of other members of the Agreement are available, members of the Agreement must conclude deals in accordance with the quotations parameters announced thereby within 30 minutes after the KazPrime indicator is fixed.
Current members of the KazPrime agreement are Halyk Savings Bank of Kazakhstan JSC, ATFBank JSC, Eurasian Bank JSC, Bank CenterCredit JSC, Kazkommertsbank JSC.
The new indicator of interbank market of deposits KazPrime was put into action in Kazakhstan
KazPrime is an index of the average interbank deposit rates in Kazakh Tenge (KZT) of prime banks in the Kazakh market for predefined terms. KazPrime is calculated on a daily basis using quotations submitted by Participant Banks to the trade system of the Kazakhstan Stock Exchange (KASE) before 11.30 a.m. (Almaty time). KazPrime is calculated as an average of offer rate quotations submitted by Participants and published to two decimal places.
Commercial banks acting on the territory of the Republic of Kazakhstan may act as Participant Banks in the KazPrime. Every Participant should be active and have an excellent reputation in the interbank market of the Republic of Kazakhstan, and should be of a credit standing acceptable to the other Participants.
The following Participants have signed the Agreement at the time of the launch of the KazPrime:
- Halyk Savings Bank of Kazakhstan JSC
- ATFBank JSC
- Eurasian Bank JSC
- Bank CenterCredit JSC
- Kazkommertsbank JSC
The interest rate calculation day count convention will be Actual/360. The value date for deposits shall be the quotation date.
A quotation is the rate at which each participant will offer a deposit to the other participants for a minimum quotation volume of KZT 150 million within 30 minutes of the KazPrime fixing, and/or to receive a deposit in such volume at a rate of no more than 100 basis points below KazPrime.
The standard term of interbank deposits at the moment is three months (KazPrime-3M). Participants may later agree to set quotations for different terms including "overnight", 7 days, 1, 6, 9 and 12 months.
The rate is published at 11:35 am AT on page [KAZPRIME1] (Reuters).