₩10.9 Trillion in Fiscal Inflow, Surplus in Reserve Funds Expected on 14th

On the 14th, a fiscal inflow of ₩10.9 trillion into the domestic short-term money market is expected to result in a surplus in reserve funds, significantly surpassing the collection of revenue and the retrieval of government surplus funds. The factors contributing to the increase in reserves include ₩10.9 trillion from fiscal inflow, ₩400 billion from public funds, and ₩500 billion from the maturity of adjustment deposits. The factors leading to a decrease are estimated at ₩500 billion from revenue, ₩700 billion from the retrieval of government surplus funds, ₩400 billion from non-competitive purchases of government bonds, and ₩500 billion from adjustment deposits. The fiscal inflow includes ₩8.5 trillion from local consumption tax, ₩300 billion from the Ministry of Education, and ₩300 billion from national tax refunds. The total increase factor for the day is ₩11.8 trillion, while the total decrease factor is ₩2.1 trillion. Reserve funds are the money that banks hold at the Bank of Korea to prepare for deposit withdrawals and payment settlements, and when a surplus occurs, the pressure for ultra-short-term funding decreases. In the call market, the reserve fund balance is expected to show a positive trend, indicating that there will not be significant matching of normal interest rate transactions. The repo market is also expected to start with a surplus. On the 13th, the reserve surplus was ₩2.6538 trillion, and the reserve fund balance was ₩10.559 trillion in surplus. The one-day call rate was recorded at 2.769%, with a trading volume of ₩12.5921 trillion.

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