Banking Sector Forint Liquidity up in January
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Forint liquidity of the domestic banking sector rose in January, indicated by an increase in the average stock of central bank bills and lenders' current account deposits, the National Bank of Hungary (MNB) said in a monthly data release on its website yesterday.
The average stock of MNB bills stood at HUF 3.712 trillion in January, rising by HUF 232 billion from the previous month. Credit institutions' average current account balances rose by HUF 414 bln to HUF 10.352 tln.
The average stock of variable rate deposits of lenders fell by HUF 176 bln to HUF 514 bln. The monthly average reserve account balance reached HUF 10.924 tln in January, rising from HUF 10.578 tln in the previous month.
The reserve requirement was HUF 3.847 tln during the month.
The MNB phased out its O/N deposits offered at quick tenders last October, making reserve accounts the main instrument for sterilizing liquidity.
The average currency stock in circulation stood at HUF 8.104 tln in January, falling by HU F 114 bln from the previous month.
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