The National Bank of Ukraine (NBU) at the 15th auction for placement of three-month certificates of deposit (CDs) at 25% per annum on Friday, July 14, sold them for UAH 26.07 billion, while the volume of redemption of CDs placed at the second auction on April 14 amounted to only UAH 8.87 billion.
As reported on the NBU website, as a result, the volume of three-month DCs in circulation began to grow again and reached a new maximum of UAH 175.44 billion.
The number of buyers, as a week ago, amounted to 43, the regulator specified.
The central bank pointed out that last Friday the volume of overnight DS sales amounted to UAH 355.71 billion, compared to UAH 373.92 billion a week earlier. On the other days of last week, the NBU placed them in the amount of UAH 331.1-337.8 billion.
As reported, the National Bank said on March 16 that from April 7 it decided to lower the rate on overnight certificates of deposit from 23% to 20%, but at the same time to place DCs for a period of three months at a discount rate of 25%, depending on the volume of deposits attracted by banks for a period of three months or more.
On the eve of the debut auction, the NBU set for banks individual initial limits for the purchase of three-month DC at the level of 70% of the balances of individuals’ deposits in the national currency in these financial institutions as of April 4, with an initial term of 93 days or more.
The regulator explained that to the initial limit is added the second dynamic part – multiplied by the multiplier “3.0” increase in the volume of such a portfolio of hryvnia deposits of individuals for 93 days after April 4.
Banks can apply for purchase of three-month DS both from the NBU and in the interbank market within the above limit. The National Bank places them weekly on Fridays.
In the inflation report, the NBU specified that as of April 4, term deposits in the national currency for a period of three months or more were worth the equivalent of UAH 154.5 billion, or 26.9% of all deposits, for a period of up to three months – UAH 40.4 billion, or 7%, while UAH 378.4 billion, or 66%, accounted for demand deposits.
According to the head of the National Bank Andriy Pyshnyy, the share of term deposits reached 35% at the end of May, while the share of deposits with maturities of 3 to 12 months in the total volume of new term deposits increased to 76%.
The NBU also said in mid-June that it plans to study the revision of 3-month deposit multiples in July.
Hong Kong authorities have decided to cancel the requirement for a coronavirus vaccination certificate for those arriving in the region, PCR tests are still required, according to the press service of China’s special district government.
“As of Feb. 6, the requirement for full vaccination for nonresidents of Hong Kong arriving from abroad is removed. Travelers do not need to be vaccinated and present a certificate of vaccination upon arrival in Hong Kong. Mandatory testing for coronavirus for those arriving from abroad remains in place,” the report said.
According to the government, the epidemic situation in Hong Kong remains stable despite an increase in the number of visitors.
In January-June of this year, the State Customs Service of Ukraine issued 80 certificates for the export of scrap metal to EU countries to enterprises dealing with ferrous scrap, according to the Ministry of Finance’s response to the letter of the Ukrainian Association of Secondary Metals (“UAVtormet”), dated July 23, 2022.
At the same time, the Ministry of Finance stated that the State Customs Service did not receive requests from subjects of foreign economic activity regarding problems in obtaining certificates.
In turn, “UAVtormet” sent a letter to the Ministry of Finance and the State Customs Service on June 20, 2022, a copy of which is in the possession of the “Interfax-Ukraine” agency, in which it pointed out the appeal of market participants regarding selectivity in the issuance of permits for export procedures, in particular, in the issuance of certificates for supply of scrap to the EU.
In the appeal of “UAVtormet” it was emphasized that the Ministry issued an order dated March 2, 2021 approving the procedure for issuing certificates. According to the Association, the procedure for obtaining a certificate is significantly complicated, it does not contain a complete list of necessary documents, and the procedure for a full or partial inspection of vehicles for product identification is used to delay the registration of export consignments.
UAVtormet believes that this creates corruption risks and causes financial losses to both the state and Ukrainian business.
The association asked the Ministry of Finance to hold an operational meeting on problematic issues in the export of scrap metal, with the involvement of experts from the ministry, the State Customs Service, the Chamber of Commerce and Industry, “UAVtormet” and “UAVtormetresurs”.
As reported, Ukrainian enterprises in January-June of this year reduced the export of ferrous metal scrap eightfold compared to the same period last year – to 28.74 thousand tons, in monetary terms, the export of scrap metal decreased by 6.8 times – to $12.24 million.
Scrap metal was exported in January-June 2022 mainly to Turkey (61.35%), Poland (12.49%) and Germany (9.45%).
In 2021, Ukraine increased the export of scrap metal by 17.2 times compared to the previous year – up to 615.69 thousand tons. In monetary terms, the export of scrap metal increased 25.2 times to $238.90 million.
Ukrainian Association of Secondary Metals (“UAVtormet”), Ukrainian Association of Scrap Metal Exporters (UAEM) and “Ukrainian Association of Secondary Metals and Resources” (“UAVtormetresurs”) operate in Ukraine.
CERTIFICATES, EU, EXPORT, SCRAP METAL, STATE CUSTOMS SERVICE
The State Customs Service will simplify the issuance of EUR.1 certificates for the export of goods for the period of martial law, the agency reported on its Telegram channel.
“For the period of martial law … the head of the State Customs Service instructed the heads of customs, under their personal responsibility, to ensure a simplified procedure for issuing certificates for the transport of EUR. relevant request from the customs administration of an EU country,” the agency said on Thursday.
Such certificates exempt from duties the import of goods into the EU, recalled the customs.
If there are any problematic issues regarding the issuance of these certificates, exporters can contact the relevant customs officers at (096) 133-22-79.
Ukraine and Switzerland have agreed on mutual recognition of COVID-19 vaccination certificates, Ukrainian Foreign Minister Dmytro Kuleba has said.
“I am also pleased to announce that we have agreed to recognize COVID-19 vaccination certificates for free and safe travel of citizens and businesses,” Kuleba said at a press conference following talks with Federal Adviser, Vice President and Chairman of the Federal Department of Foreign Affairs of the Swiss Confederation Ignazio Cassis in Kyiv on Thursday.
“The exchange of notes has already taken place, and I invite all citizens to the website of the Ministry of Foreign Affairs tripadvisor.mfa.gov.ua, where you will see updated information on the conditions of travel to Switzerland,” the head of the Ukrainian Foreign Ministry added.
The Ukrainian Foreign Minister stressed that the mutual recognition of certificates is a very important step. “First of all, this is a step of trust that exists between our countries,” Kuleba added.
Since October 11, citizens of Ukraine have the right to visit France, who have completed a full course of vaccination with Johnson and Johnson, AstraZeneca, Moderna, Pfizer, R-Pharm, and seven days have passed since the last dose was received (28 days Johnson and Johnson), the State Border Guard Service of Ukraine has said.
According tothe State Border Guard Service’s statement in the Telegram channel on Monday, the United Kingdom has recognized Ukrainian vaccination certificates and from October 11 will accept Ukrainian citizens who have completed a full course by Johnson and Johnson, AstraZeneca, Moderna and Pfizer medicines.
