Statistical news focuses on the latest figures and trends in Danmarks Nationalbank’s statistics. Statistical news is targeted at people who want quick insight into current financial data.
Stable turnover on the unsecured money market
The banks' mutual unsecured deposits in kroner were DKK 4 billion per day on average in the 2nd quarter. This is the same level as last year. The figure appears from Danmarks Nationalbank's annual money market survey, which includes the banks' mutual money market and interest rate derivatives transactions in the 2nd quarter.
Stable turnover with foreign banks on the unsecured money market
Note: Average daily turnover. Reporting banks’ borrowing turnover with foreign and domestic banks respectively on the unsecured money market.
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Foreign banks continue to place their krone liquidity with domestic banks, and they currently make up the majority of the daily turnover. However, turnover between domestic banks in the unsecured money market has fallen in recent years. The majority of turnover in the unsecured money market is in overnight deposits, on which the new reference rate in Danish kroner, DESTR, is based.1
DESTR follows Danmarks Nationalbank's interest rate changes
Danmarks Nationalbank has followed the European Central Bank's interest rate increases in 2022 in order to maintain the krone's value against the euro. DESTR has followed the interest rate increases closely and has therefore increased accordingly. It is important for the implementation of the fixed exchange rate policy that the monetary policy rates have a clear impact on market interest rates.
New statistics for the money and foreign exchange market
The money market survey has been an annual statistic, but this year's survey will be the last. Danmarks Nationalbank, in collaboration with the banking sector, will next year launch a new statistic for the money and foreign exchange market in Danish kroner. The statistic is based on the banks' reports of each individual transaction in the money and foreign exchange market. It provides a unique insight into the financial markets and strengthens Danmarks Nationalbank's monitoring of monetary policy transmission and financial stability. Data will be made publicly available at an aggregate level.