As of 10 August 2022, the NBU will estimate and publish derived measures of the Ukrainian OverNight Index Average (UONIA), namely a compounded UONIA index and compounded UONIA average rates estimated for the tenors of one, three, and six months.
“War poses a major challenge for the entire financial system. But even under these conditions the NBU continues to look into the future and take measures not only targeting day-to-day challenges, but also laying out groundwork for active development of financial markets after winning the war,” noted Yuriy Heletiy, NBU Deputy Governor.
According to the NBU, estimating and publishing UONIA indicators will foster the development of Ukrainian market of floating-rate instruments and derivatives. This will expand the option to apply UONIA as the base rate for financial products and allow maintaining secure pricing of agreements between banks and customers.
Introducing these estimates and respective releases corresponds with the best global practices, including approaches of ECB and Bank of England.
Starting from 10 August 2022, compounded UONIA index and compounded UONIA average rates will be released daily on the NBU official website in the “Financial Markets” section (Money Market: UONIA Trend widget).
NBU Board Decision No. 390 On Approval of the Procedure for Estimating and Publishing Compounded UONIA Indicator dated 4 August 2022 came into effect on the same date.