On December 28, the National Bank starts calculating the Ukrainian Index of Interbank Rates – UIIR), Minfin reports.

The UIIR calculation is made daily (based on the results of each working day). For this purpose there was used the information on all transactions on allocation of UAH resources, which were concluded by banks on the interbank market of Ukraine on the corresponding day, and the information, which was provided/registered at the moment of calculation of UIIR index in:

$1-         System of provision of bank information on deals of purchase and sale of loan resources in national currency on the interbank credit market;

$1-         System of confirmation of agreements on the interbank currency market of Ukraine (in terms of transactions on USD purchase under swap terms).

UIIR is calculated as per two categories of interbank transactions: “unsecured loans and deposits” and “swap agreements”. Meanwhile, as per each category the calculation is made under transactions with different terms: overnight, one week, two weeks, one month, three months.

UIIR for each term of each category is calculated only if during the corresponding day the information on at least five agreements of the corresponding term and category, the contractors as per which were not less than three different banks, was reflected/registered. Meanwhile, in order to achieve more objective meaning of UIIR, when calculating it for each term of each category, 20% of agreements from total number with highest rates and 20% of agreements from total number with lowest rates are not taken into consideration.  Based on other transactions UIIR is calculated as a common arithmetical average.

The promulgation of UIIR index for the corresponding working day is made till 10 a.m. of the next working day on the NBU official site.

UIIR is the national analog of British Libor rate and European EURIBOR (London Interbank Offered Rate and European Interbank Offered Rate).