Georgia acts on liquidity shift

The National Bank of Georgia has altered the way in which it pumps funds into the banking system on the back of changes in liquidity conditions.

The central bank said Friday that it would temporarily cease conducting its weekly seven-day certificate of deposit operations due to a lack of short-term liquidity. Instead, it will conduct seven-day refinancing operations similar to those operated by the European Central Bank (ECB) and the Federal Reserve, where government and central bank securities

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