ICU: Daily Insight -- Liquidity up

​The Treasury paid UAH6.33bnof the VAT refund on the first two days of this month, leaving UAH0.50bn remaining on Friday morning. Last Thursday, the UAH4.09bn payment pushed liquidity up UAH4.52bn to UAH112.3bn, just UAH0.53bn below this year's record high at the beginning of January. Banks increased the amount of CDs after it purchased UAH3.46bn of CDs more than it redeemed last Thursday, favoring 14-day CDs. Banks' correspondent accounts with the NBU rose a less significant UAH1.07bn. Non-monetary operations added UAH4.33bn of funds into the banking system, with a UAH0.41bn increase in cash and UAH3.91bn of net inflows from the Treasury, mainly from the VAT refund.