Previously, the OVGZ rate was fixed, and the Ministry of Finance did not change it after raising the National Bank discount rate.
The government has decided to change the fixed rate of war bonds to a floating one, according to Cabinet Resolution No. 659.
If earlier the rate was fixed at 11% per annum, now it is tied to the discount rate of the National Bank.
According to the decision, a floating rate will work on military bonds, calculated based on the average discount rate of the NBU for the summer period, which will end on the first day of the month before the month of regular coupon payment and will begin on the first day of the same month last year.
Earlier, the NBU explained the decision to raise the discount rate from 10% to 25% by saying that it will help maintain a stable hryvnia exchange rate and protect the income and savings of citizens from depreciation.
Also, the NBU expects that due to the increase in the discount rate, rates on government bonds should rise. But the Ministry of Finance refused to raise the rate, due to which the volume of bond placement fell to UAH 800 million from UAH 2.6 billion.
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Source: korrespondent
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