became more favorable to Pay penalties to the exchange, than to fulfill obligations on currency sale. In reply penalties lifted five times.
National Clearing Centre (NKTs, is included into group of the Moscow exchange) increased penalties for transfer of performance of obligations on currency swaps from 2% to 10% per annum on dollar and 7,75% for euro. These are actually protecting penalties, the treasurer told daily business newspaper "Vedomosti" banks.
Because of demand for currency in the last days of a year of a rate of dollar swaps at the separate moments exceeded 30% per annum (on December 29, at the end of the last auctions 2017, made 34,6%, according to the Moscow exchange), the executive director on the monetary and currency market tells PUBLIC JOINT-STOCK COMPANY BANK "FK OTKRYTIE" Smirnov Sergei. According to him, in the last days of December it was more favorable to pay a penalty, than to fulfill obligations. "The penalty has to be such that there was no temptation to replace normal operations by such penalties which are very inconvenient to organizers of auctions, to the regulator" — Smirnov Sergei speaks.
In the last trading day 2017 of NKTs were recorded by a number of very large not fulfilled obligations to it on payments in dollars, Aleksey Khavin confirmed preboards. As during the first auctions this year demand for dollar liquidity remains abnormally high to avoid percentage arbitration, NKTs decided to increase penal rates, he explained.
"At situation normalization with currency liquidity we will return to a question of decrease in penal rates" — Aleksey Khavin promised.
Abnormal demand for currency while remains, the currency dealer "Alba Allianz" Artem Roshchin speaks. In the end of the year the turnover of swaps reached 17 billion dollars, and on Tuesday, January 9 — over 15 billion dollars, was on the average 6 — 7 billion dollars a day in the summer.