3 Trillion Won Inflow into the Public Fund, Surplus Flow of Reserves Continues on the 25th

On the 25th, the surplus flow of reserves continued in the domestic short-term money market. Although the issuance of government bonds and tax revenues absorbed liquidity, the surplus from the previous trading day and the inflow of public funds limited the borrowing demand from banks. On this day, the factors contributing to the increase in reserves were calculated to be 1.9 trillion won from the government, 3 trillion won from public funds, and 500 billion won from the maturity of adjustment deposits. The inflow of government funds included 500 billion won from tax refunds, 800 billion won from the Ministry of Health and Welfare, and 300 billion won from the Ministry of Finance. The factors contributing to the decrease in reserves were 2.1 trillion won from tax revenues, 3 trillion won from the issuance of 5-year government bonds, 600 billion won from the issuance of 91-day treasury bills, and 500 billion won from adjustment deposits. On that day, the outflow exceeded the inflow by 800 billion won. However, the fact that both reserves and reserve requirements from the previous trading day showed a positive balance formed the basis for the assessment of supply and demand on this day. On the 24th, reserves showed a surplus of 1.2612 trillion won, while reserve requirements had a surplus of 35.9257 trillion won. The overnight call rate was recorded at 2.765%, with a trading volume of 19.0833 trillion won. In the repo market, the inflow of public funds is acting as a major variable, and market sentiment may vary depending on the scale of public fund management.

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